Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Short Interest Down 23.3% in July

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) saw a large drop in short interest in July. As of July 15th, there was short interest totalling 7,330,000 shares, a drop of 23.3% from the June 30th total of 9,560,000 shares. Based on an average trading volume of 1,860,000 shares, the days-to-cover ratio is currently 3.9 days.

Sarepta Therapeutics Price Performance

Shares of SRPT traded up $1.79 during trading hours on Monday, reaching $146.03. The stock had a trading volume of 1,373,504 shares, compared to its average volume of 1,381,422. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.44 and a current ratio of 4.05. The stock has a market capitalization of $13.80 billion, a PE ratio of 1,311.27 and a beta of 0.89. Sarepta Therapeutics has a 12 month low of $55.25 and a 12 month high of $173.25. The company’s 50-day moving average is $137.74 and its two-hundred day moving average is $129.99.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.84. Sarepta Therapeutics had a net margin of 1.20% and a return on equity of 2.20%. The firm had revenue of $413.50 million during the quarter, compared to analysts’ expectations of $375.52 million. During the same period in the prior year, the company posted ($1.44) EPS. The company’s revenue was up 63.1% on a year-over-year basis. Research analysts expect that Sarepta Therapeutics will post 3.76 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on SRPT shares. BMO Capital Markets upped their price target on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. Needham & Company LLC reiterated a “buy” rating and issued a $235.00 target price on shares of Sarepta Therapeutics in a research note on Thursday, June 27th. Robert W. Baird boosted their price target on Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Oppenheimer raised Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $180.00 price objective for the company in a research report on Tuesday, May 14th. Finally, SVB Leerink boosted their target price on Sarepta Therapeutics from $165.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $187.72.

Insider Activity

In other news, EVP Ryan Edward Brown sold 38,957 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $161.61, for a total value of $6,295,840.77. Following the sale, the executive vice president now owns 17,129 shares of the company’s stock, valued at $2,768,217.69. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Sarepta Therapeutics news, insider Dallan Murray sold 3,635 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $140.00, for a total value of $508,900.00. Following the completion of the transaction, the insider now directly owns 18,125 shares in the company, valued at $2,537,500. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ryan Edward Brown sold 38,957 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $161.61, for a total value of $6,295,840.77. Following the transaction, the executive vice president now directly owns 17,129 shares in the company, valued at approximately $2,768,217.69. The disclosure for this sale can be found here. Insiders have sold 50,451 shares of company stock worth $8,086,386 over the last ninety days. Insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SRPT. Capital International Investors increased its position in Sarepta Therapeutics by 160.0% during the 4th quarter. Capital International Investors now owns 4,741,485 shares of the biotechnology company’s stock valued at $457,221,000 after purchasing an additional 2,917,797 shares during the period. Farallon Capital Management LLC increased its position in shares of Sarepta Therapeutics by 102.8% during the first quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock worth $317,630,000 after buying an additional 1,243,427 shares during the period. Norges Bank bought a new position in Sarepta Therapeutics during the fourth quarter worth $80,697,000. Bank of Nova Scotia acquired a new position in Sarepta Therapeutics in the fourth quarter valued at $50,990,000. Finally, Avoro Capital Advisors LLC boosted its position in Sarepta Therapeutics by 7.9% during the fourth quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock valued at $418,935,000 after acquiring an additional 319,444 shares during the last quarter. 86.68% of the stock is owned by institutional investors and hedge funds.

Sarepta Therapeutics Company Profile

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.