Wedbush Securities Inc. Increases Position in Sarepta Therapeutics Inc (NASDAQ:SRPT)

Wedbush Securities Inc. raised its position in Sarepta Therapeutics Inc (NASDAQ:SRPT) by 7.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,759 shares of the biotechnology company’s stock after purchasing an additional 200 shares during the quarter. Wedbush Securities Inc.’s holdings in Sarepta Therapeutics were worth $208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SRPT. Evolution Wealth Advisors LLC acquired a new position in shares of Sarepta Therapeutics in the second quarter worth $25,000. Trust Co. of Vermont grew its stake in shares of Sarepta Therapeutics by 2,125.0% in the second quarter. Trust Co. of Vermont now owns 178 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 170 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Sarepta Therapeutics in the second quarter worth $32,000. BSW Wealth Partners acquired a new position in shares of Sarepta Therapeutics in the second quarter worth $52,000. Finally, Coastal Investment Advisors Inc. grew its stake in shares of Sarepta Therapeutics by 57.4% in the second quarter. Coastal Investment Advisors Inc. now owns 425 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 155 shares in the last quarter. 95.06% of the stock is currently owned by institutional investors.

Shares of SRPT stock traded up $1.11 on Friday, reaching $84.64. 27,046 shares of the stock were exchanged, compared to its average volume of 1,481,875. The company has a current ratio of 8.81, a quick ratio of 7.84 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average price is $83.49 and its 200 day moving average price is $115.71. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -15.47 and a beta of 2.12. Sarepta Therapeutics Inc has a twelve month low of $72.05 and a twelve month high of $158.80.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported ($3.74) EPS for the quarter, missing analysts’ consensus estimates of ($1.08) by ($2.66). Sarepta Therapeutics had a negative return on equity of 55.37% and a negative net margin of 165.52%. The firm had revenue of $94.67 million for the quarter, compared to analyst estimates of $91.05 million. During the same quarter in the previous year, the firm posted ($1.67) EPS. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. Equities research analysts forecast that Sarepta Therapeutics Inc will post -4.94 earnings per share for the current year.

In related news, CEO Douglas S. Ingram acquired 16,252 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average price of $123.07 per share, for a total transaction of $2,000,133.64. Following the completion of the purchase, the chief executive officer now directly owns 424,405 shares of the company’s stock, valued at approximately $52,231,523.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Barry acquired 5,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was bought at an average price of $87.49 per share, with a total value of $437,450.00. Following the purchase, the director now directly owns 3,183,756 shares of the company’s stock, valued at $278,546,812.44. The disclosure for this purchase can be found here. Insiders acquired 35,752 shares of company stock valued at $3,940,114 in the last 90 days. 6.60% of the stock is currently owned by insiders.

SRPT has been the subject of several research reports. William Blair restated a “buy” rating on shares of Sarepta Therapeutics in a research note on Friday, August 9th. Evercore ISI restated a “buy” rating and issued a $200.00 price target on shares of Sarepta Therapeutics in a research note on Thursday, August 8th. ValuEngine upgraded shares of Sarepta Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 4th. Royal Bank of Canada set a $204.00 price target on shares of Sarepta Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Morgan Stanley dropped their price target on shares of Sarepta Therapeutics from $220.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $189.00.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare diseases. The company offers EXONDYS 51, a disease-modifying therapy for duchenne muscular dystrophy (DMD). Its products pipeline include Golodirsen, a product candidate that binds to exon 53 of dystrophin pre-mRNA, which results in exclusion or skipping of exon during mRNA processing in patients with genetic mutations; and Casimersen, a product candidate that uses phosphorodiamidate morpholino oligomer (PMO) chemistry and exon-skipping technology to skip exon 45 of the DMD gene.

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Institutional Ownership by Quarter for Sarepta Therapeutics (NASDAQ:SRPT)

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