Oak Ridge Investments LLC Has $7.83 Million Position in Sarepta Therapeutics Inc (SRPT)
Oak Ridge Investments LLC cut its stake in Sarepta Therapeutics Inc (NASDAQ:SRPT) by 61.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,449 shares of the biotechnology company’s stock after selling 77,258 shares during the period. Oak Ridge Investments LLC owned 0.07% of Sarepta Therapeutics worth $7,825,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in SRPT. Waddell & Reed Financial Inc. bought a new stake in Sarepta Therapeutics in the second quarter valued at approximately $103,682,000. Millennium Management LLC boosted its holdings in Sarepta Therapeutics by 242.2% in the second quarter. Millennium Management LLC now owns 858,407 shares of the biotechnology company’s stock valued at $113,464,000 after acquiring an additional 607,588 shares during the last quarter. American Century Companies Inc. bought a new stake in Sarepta Therapeutics in the third quarter valued at approximately $65,705,000. Boxer Capital LLC bought a new stake in Sarepta Therapeutics in the second quarter valued at approximately $49,568,000. Finally, Macquarie Group Ltd. lifted its stake in Sarepta Therapeutics by 444.0% in the second quarter. Macquarie Group Ltd. now owns 383,093 shares of the biotechnology company’s stock valued at $50,637,000 after buying an additional 312,670 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.
Shares of NASDAQ:SRPT opened at $120.82 on Tuesday. The company has a current ratio of 8.85, a quick ratio of 7.84 and a debt-to-equity ratio of 0.65. Sarepta Therapeutics Inc has a twelve month low of $50.68 and a twelve month high of $176.50. The company has a market cap of $8.38 billion, a PE ratio of -73.67 and a beta of 1.59.
In other news, CFO Sandesh Mahatme sold 107,524 shares of the company’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $127.74, for a total transaction of $13,735,115.76. Following the transaction, the chief financial officer now directly owns 48,381 shares of the company’s stock, valued at $6,180,188.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas S. Ingram bought 16,695 shares of the stock in a transaction dated Tuesday, October 30th. The shares were purchased at an average cost of $120.39 per share, for a total transaction of $2,009,911.05. Following the completion of the transaction, the chief executive officer now directly owns 412,811 shares of the company’s stock, valued at $49,698,316.29. The disclosure for this purchase can be found here. 7.90% of the stock is owned by corporate insiders.
Several equities analysts have issued reports on the company. Citigroup boosted their price target on Sarepta Therapeutics from $174.00 to $188.00 and gave the company a “buy” rating in a research note on Tuesday, November 6th. BidaskClub lowered Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. Piper Jaffray Companies dropped their price target on Sarepta Therapeutics from $189.00 to $168.00 and set an “overweight” rating on the stock in a research note on Friday, October 26th. Zacks Investment Research raised Sarepta Therapeutics from a “hold” rating to a “buy” rating and set a $147.00 price target on the stock in a research note on Tuesday, October 16th. Finally, Sanford C. Bernstein assumed coverage on Sarepta Therapeutics in a research note on Friday, October 12th. They issued an “outperform” rating and a $170.00 price target on the stock. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $169.19.
Sarepta Therapeutics Profile
Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare neuromuscular diseases. The company offers EXONDYS 51, a disease-modifying therapy for the treatment of duchenne muscular dystrophy (DMD), which is a rare genetic muscle-wasting disease caused by the absence of dystrophin.
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