Bank of Montreal Can Cuts Stock Holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Bank of Montreal Can trimmed its position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPTGet Rating) by 77.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,596 shares of the biotechnology company’s stock after selling 373,770 shares during the quarter. Bank of Montreal Can’s holdings in Sarepta Therapeutics were worth $8,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Mackenzie Financial Corp purchased a new position in Sarepta Therapeutics during the 2nd quarter worth $281,000. Principal Financial Group Inc. raised its stake in shares of Sarepta Therapeutics by 22.6% during the 2nd quarter. Principal Financial Group Inc. now owns 21,395 shares of the biotechnology company’s stock worth $1,604,000 after purchasing an additional 3,941 shares during the period. Pictet Asset Management SA raised its stake in shares of Sarepta Therapeutics by 35.7% during the 2nd quarter. Pictet Asset Management SA now owns 119,187 shares of the biotechnology company’s stock worth $8,934,000 after purchasing an additional 31,331 shares during the period. Shell Asset Management Co. raised its stake in shares of Sarepta Therapeutics by 20.7% during the 2nd quarter. Shell Asset Management Co. now owns 6,616 shares of the biotechnology company’s stock worth $496,000 after purchasing an additional 1,135 shares during the period. Finally, Duality Advisers LP raised its stake in shares of Sarepta Therapeutics by 33.9% during the 2nd quarter. Duality Advisers LP now owns 11,716 shares of the biotechnology company’s stock worth $878,000 after purchasing an additional 2,965 shares during the period. 82.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SRPT has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered their target price on Sarepta Therapeutics from $193.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, November 3rd. Oppenheimer lifted their target price on Sarepta Therapeutics from $125.00 to $150.00 in a research note on Wednesday, August 3rd. StockNews.com initiated coverage on Sarepta Therapeutics in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Guggenheim boosted their price objective on Sarepta Therapeutics from $100.00 to $122.00 in a research note on Wednesday, August 3rd. Finally, Needham & Company LLC lowered their price objective on Sarepta Therapeutics from $162.00 to $158.00 and set a “buy” rating on the stock in a research note on Thursday, November 3rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Sarepta Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $143.91.

Sarepta Therapeutics Trading Up 2.5 %

Shares of SRPT opened at $114.74 on Friday. The business’s 50-day moving average price is $110.70 and its 200-day moving average price is $95.00. Sarepta Therapeutics, Inc. has a twelve month low of $61.28 and a twelve month high of $120.23. The stock has a market cap of $10.07 billion, a PE ratio of -13.98 and a beta of 1.09. The company has a quick ratio of 3.99, a current ratio of 4.36 and a debt-to-equity ratio of 3.58.

Sarepta Therapeutics (NASDAQ:SRPTGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The biotechnology company reported ($2.94) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($1.73). Sarepta Therapeutics had a negative net margin of 81.76% and a negative return on equity of 97.37%. The company had revenue of $230.30 million for the quarter, compared to the consensus estimate of $234.55 million. During the same quarter in the prior year, the company earned ($0.60) earnings per share. The company’s quarterly revenue was up 21.6% on a year-over-year basis. On average, equities analysts forecast that Sarepta Therapeutics, Inc. will post -8.17 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael Andrew Chambers purchased 57,100 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were purchased at an average cost of $104.43 per share, for a total transaction of $5,962,953.00. Following the completion of the transaction, the director now directly owns 108,178 shares in the company, valued at approximately $11,297,028.54. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Sarepta Therapeutics news, Director Michael Andrew Chambers acquired 57,100 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was bought at an average price of $104.43 per share, with a total value of $5,962,953.00. Following the completion of the acquisition, the director now owns 108,178 shares of the company’s stock, valued at $11,297,028.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen Mayo sold 858 shares of the business’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $109.92, for a total value of $94,311.36. Following the transaction, the director now directly owns 6,387 shares of the company’s stock, valued at approximately $702,059.04. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

About Sarepta Therapeutics

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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; and VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping.

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

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