Sofinnova Investments Inc. Sells 31,636 Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Sofinnova Investments Inc. lessened its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 13.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 195,852 shares of the biotechnology company’s stock after selling 31,636 shares during the quarter. Sarepta Therapeutics comprises approximately 1.6% of Sofinnova Investments Inc.’s portfolio, making the stock its 18th biggest holding. Sofinnova Investments Inc. owned 0.21% of Sarepta Therapeutics worth $30,945,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SRPT. Riggs Asset Managment Co. Inc. boosted its holdings in Sarepta Therapeutics by 33.3% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock worth $47,000 after buying an additional 75 shares during the period. GAMMA Investing LLC lifted its position in shares of Sarepta Therapeutics by 37.0% during the first quarter. GAMMA Investing LLC now owns 322 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 87 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Sarepta Therapeutics by 1.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,331 shares of the biotechnology company’s stock worth $1,000,000 after acquiring an additional 120 shares during the period. WCM Investment Management LLC grew its position in shares of Sarepta Therapeutics by 2.3% in the first quarter. WCM Investment Management LLC now owns 6,279 shares of the biotechnology company’s stock valued at $813,000 after purchasing an additional 142 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Sarepta Therapeutics in the second quarter valued at $31,000. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays cut their target price on Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Citigroup reduced their price objective on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Sarepta Therapeutics in a research note on Friday, June 21st. Leerink Partners boosted their price target on shares of Sarepta Therapeutics from $165.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 price objective on shares of Sarepta Therapeutics in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Sarepta Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $186.22.

Insider Activity at Sarepta Therapeutics

In other Sarepta Therapeutics news, EVP Ryan Edward Brown sold 38,957 shares of Sarepta Therapeutics 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 of the company’s stock, valued at approximately $2,768,217.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Sarepta Therapeutics news, EVP Ryan Edward Brown sold 38,957 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 17,129 shares in the company, valued at $2,768,217.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $137.36, for a total transaction of $822,099.60. Following the sale, the chief financial officer now owns 33,946 shares of the company’s stock, valued at $4,662,822.56. The disclosure for this sale can be found here. Insiders sold 52,801 shares of company stock worth $8,399,586 in the last ninety days. 7.70% of the stock is owned by company insiders.

Sarepta Therapeutics Price Performance

Shares of Sarepta Therapeutics stock opened at $124.33 on Tuesday. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 1,130.27 and a beta of 0.81. The company has a fifty day moving average of $139.24 and a 200-day moving average of $132.69. Sarepta Therapeutics, Inc. has a 52-week low of $55.25 and a 52-week high of $173.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.19 and a current ratio of 3.90.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. The business had revenue of $362.90 million during the quarter, compared to analyst estimates of $394.38 million. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. The company’s revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.27) earnings per share. Equities research analysts expect that Sarepta Therapeutics, Inc. will post 1.47 EPS for the current year.

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.