Simplify Asset Management Inc. Reduces Stock Holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Simplify Asset Management Inc. reduced its position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 83.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,779 shares of the biotechnology company's stock after selling 160,231 shares during the period. Simplify Asset Management Inc.'s holdings in Sarepta Therapeutics were worth $3,986,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SRPT. Janus Henderson Group PLC increased its holdings in Sarepta Therapeutics by 14.2% in the 3rd quarter. Janus Henderson Group PLC now owns 4,358,511 shares of the biotechnology company's stock worth $544,408,000 after acquiring an additional 543,143 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Sarepta Therapeutics by 32.3% during the 3rd quarter. Wellington Management Group LLP now owns 2,726,613 shares of the biotechnology company's stock valued at $340,527,000 after buying an additional 665,087 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Sarepta Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company's stock worth $211,910,000 after buying an additional 44,306 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Sarepta Therapeutics by 9.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 753,845 shares of the biotechnology company's stock worth $94,148,000 after buying an additional 63,437 shares in the last quarter. Finally, Erste Asset Management GmbH raised its holdings in Sarepta Therapeutics by 11.3% during the fourth quarter. Erste Asset Management GmbH now owns 708,248 shares of the biotechnology company's stock valued at $86,116,000 after acquiring an additional 72,183 shares during the period. Hedge funds and other institutional investors own 86.68% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms recently weighed in on SRPT. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $163.00 target price on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft cut their price objective on Sarepta Therapeutics from $124.00 to $99.00 and set a "hold" rating on the stock in a research report on Wednesday, March 19th. Royal Bank of Canada lowered their price target on Sarepta Therapeutics from $165.00 to $161.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. HC Wainwright reissued a "sell" rating and issued a $75.00 price objective on shares of Sarepta Therapeutics in a research note on Wednesday, March 19th. Finally, Piper Sandler decreased their price objective on Sarepta Therapeutics from $200.00 to $182.00 and set an "overweight" rating for the company in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.41.

Insider Activity

In other news, Director Claude Nicaise sold 2,491 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value of $248,203.24. Following the sale, the director now directly owns 27,812 shares in the company, valued at $2,771,187.68. This represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.70% of the company's stock.

Sarepta Therapeutics Price Performance

Shares of NASDAQ:SRPT traded down $2.72 during trading on Tuesday, hitting $73.61. 1,267,137 shares of the stock were exchanged, compared to its average volume of 1,314,942. The company has a fifty day moving average price of $106.35 and a two-hundred day moving average price of $117.47. The company has a market cap of $7.14 billion, a PE ratio of 58.89 and a beta of 0.79. Sarepta Therapeutics, Inc. has a 12-month low of $72.17 and a 12-month high of $173.25. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.