Sarepta Therapeutics Inc. (SRPT) Sees Large Decrease in Short Interest
Sarepta Therapeutics Inc. (NASDAQ:SRPT) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totalling 11,282,680 shares, a decline of 21.0% from the September 15th total of 14,278,504 shares. Currently, 22.9% of the shares of the company are sold short. Based on an average trading volume of 11,782,732 shares, the short-interest ratio is presently 1.0 days.
In related news, CEO Edward M. Md Kaye sold 24,557 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $30.00, for a total value of $736,710.00. Following the completion of the sale, the chief executive officer now owns 76,983 shares in the company, valued at $2,309,490. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David T. Howton sold 7,000 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $60.00, for a total transaction of $420,000.00. Following the completion of the sale, the senior vice president now owns 28,453 shares of the company’s stock, valued at approximately $1,707,180. The disclosure for this sale can be found here. 10.90% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the company. State Street Corp raised its stake in Sarepta Therapeutics by 54.0% in the first quarter. State Street Corp now owns 2,467,376 shares of the company’s stock worth $48,168,000 after buying an additional 865,658 shares during the period. Franklin Resources Inc. acquired a new position in Sarepta Therapeutics during the first quarter worth approximately $13,506,000. A.R.T. Advisors LLC acquired a new position in Sarepta Therapeutics during the first quarter worth approximately $7,461,000. Eagle Asset Management Inc. acquired a new position in Sarepta Therapeutics during the second quarter worth approximately $6,756,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Sarepta Therapeutics during the second quarter worth approximately $4,712,000. 65.29% of the stock is owned by hedge funds and other institutional investors.
Shares of Sarepta Therapeutics (NASDAQ:SRPT) opened at 54.19 on Friday. The firm’s market cap is $2.60 billion. Sarepta Therapeutics has a 52 week low of $8.00 and a 52 week high of $63.73. The stock has a 50 day moving average price of $44.27 and a 200 day moving average price of $26.36.
Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Tuesday, July 19th. The company reported ($1.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.19) by $0.16. During the same period last year, the firm posted ($0.87) earnings per share. Equities analysts expect that Sarepta Therapeutics will post ($4.23) earnings per share for the current year.
SRPT has been the subject of a number of research reports. Vetr upgraded shares of Sarepta Therapeutics from a “sell” rating to a “hold” rating and set a $17.28 target price for the company in a research report on Monday, June 20th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $60.00 price target on shares of Sarepta Therapeutics in a report on Tuesday, June 21st. Wedbush reiterated an “outperform” rating and set a $36.00 price target on shares of Sarepta Therapeutics in a report on Wednesday, June 22nd. Jefferies Group reiterated an “underperform” rating and set a $7.00 price target on shares of Sarepta Therapeutics in a report on Saturday, June 25th. Finally, William Blair restated a “market perform” rating on shares of Sarepta Therapeutics in a report on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $58.44.
Sarepta Therapeutics Company Profile
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery and development of ribonucleic acid (RNA)-targeted therapeutics for the treatment of rare, infectious and other diseases. The Company operates in one segment: the development of pharmaceutical products on its own behalf or in collaboration with others.
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