Spotlight Asset Group Inc. Invests $80,000 in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Spotlight Asset Group Inc. bought a new position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 700 shares of the biotechnology company’s stock, valued at approximately $80,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Sarepta Therapeutics by 14.9% during the 1st quarter. Wellington Management Group LLP now owns 2,933,612 shares of the biotechnology company’s stock worth $404,340,000 after acquiring an additional 379,548 shares in the last quarter. Bank of New York Mellon Corp increased its position in Sarepta Therapeutics by 27.1% in the second quarter. Bank of New York Mellon Corp now owns 2,432,768 shares of the biotechnology company’s stock worth $278,601,000 after purchasing an additional 518,050 shares during the last quarter. Geode Capital Management LLC raised its stake in Sarepta Therapeutics by 3.5% during the first quarter. Geode Capital Management LLC now owns 1,261,971 shares of the biotechnology company’s stock valued at $173,938,000 after purchasing an additional 43,239 shares in the last quarter. Pictet Asset Management SA lifted its position in Sarepta Therapeutics by 30.4% during the first quarter. Pictet Asset Management SA now owns 1,213,356 shares of the biotechnology company’s stock valued at $167,237,000 after purchasing an additional 282,713 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Sarepta Therapeutics by 92.9% in the 1st quarter. Two Sigma Advisers LP now owns 1,175,734 shares of the biotechnology company’s stock worth $162,051,000 after buying an additional 566,100 shares in the last quarter. 91.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Sarepta Therapeutics from $211.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 31st. Morgan Stanley lowered their price objective on Sarepta Therapeutics from $183.00 to $146.00 and set an “overweight” rating for the company in a research note on Tuesday, October 31st. Royal Bank of Canada dropped their target price on Sarepta Therapeutics from $217.00 to $148.00 and set an “outperform” rating for the company in a report on Tuesday, October 31st. Oppenheimer lowered Sarepta Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 31st. Finally, Mizuho reaffirmed a “buy” rating and set a $160.00 price objective on shares of Sarepta Therapeutics in a research note on Tuesday, September 26th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Sarepta Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $149.55.

Sarepta Therapeutics Trading Up 0.3 %

Sarepta Therapeutics stock opened at $79.67 on Tuesday. The company has a quick ratio of 4.90, a current ratio of 5.44 and a debt-to-equity ratio of 1.62. The company has a 50 day moving average price of $110.00 and a 200-day moving average price of $116.04. Sarepta Therapeutics, Inc. has a fifty-two week low of $55.25 and a fifty-two week high of $159.89.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported $0.37 EPS for the quarter, topping the consensus estimate of ($1.63) by $2.00. Sarepta Therapeutics had a negative return on equity of 46.23% and a negative net margin of 62.52%. The company had revenue of $331.80 million for the quarter, compared to the consensus estimate of $285.33 million. During the same period last year, the business posted ($2.94) EPS. Sarepta Therapeutics’s quarterly revenue was up 44.1% on a year-over-year basis. On average, equities research analysts forecast that Sarepta Therapeutics, Inc. will post -7.53 earnings per share for the current year.

Insider Activity at Sarepta Therapeutics

In other Sarepta Therapeutics news, Director Richard Barry bought 50,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were bought at an average cost of $78.81 per share, for a total transaction of $3,940,500.00. Following the acquisition, the director now directly owns 140,000 shares in the company, valued at $11,033,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Douglas S. Ingram purchased 25,225 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were acquired at an average cost of $79.36 per share, for a total transaction of $2,001,856.00. Following the acquisition, the chief executive officer now owns 390,307 shares of the company’s stock, valued at approximately $30,974,763.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard Barry acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were bought at an average price of $78.81 per share, with a total value of $3,940,500.00. Following the completion of the purchase, the director now directly owns 140,000 shares in the company, valued at $11,033,400. The disclosure for this purchase can be found here. 7.40% of the stock is currently owned by corporate insiders.

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; and AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene.