Quinn Opportunity Partners LLC Increases Stake in Sarepta Therapeutics, Inc. $SRPT

Quinn Opportunity Partners LLC boosted its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 29.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 376,244 shares of the biotechnology company’s stock after buying an additional 86,522 shares during the quarter. Quinn Opportunity Partners LLC owned 0.39% of Sarepta Therapeutics worth $7,250,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Entropy Technologies LP purchased a new position in Sarepta Therapeutics in the 3rd quarter valued at approximately $889,000. Invesco Ltd. increased its position in shares of Sarepta Therapeutics by 242.0% during the third quarter. Invesco Ltd. now owns 832,638 shares of the biotechnology company’s stock worth $16,045,000 after acquiring an additional 589,157 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Sarepta Therapeutics by 183.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,745,051 shares of the biotechnology company’s stock valued at $33,627,000 after acquiring an additional 1,129,610 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Sarepta Therapeutics by 71.3% in the third quarter. Mackenzie Financial Corp now owns 49,548 shares of the biotechnology company’s stock valued at $955,000 after purchasing an additional 20,616 shares during the period. Finally, Legal & General Group Plc grew its stake in Sarepta Therapeutics by 13.5% during the 3rd quarter. Legal & General Group Plc now owns 266,562 shares of the biotechnology company’s stock worth $5,137,000 after purchasing an additional 31,752 shares in the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Trading Down 3.8%

NASDAQ SRPT opened at $16.40 on Friday. The firm’s fifty day moving average price is $19.43 and its 200 day moving average price is $19.98. Sarepta Therapeutics, Inc. has a 12 month low of $10.41 and a 12 month high of $103.32. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.32 and a quick ratio of 1.48. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -1.94, a price-to-earnings-growth ratio of 0.25 and a beta of 0.42.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported ($3.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($2.71). The company had revenue of $442.93 million during the quarter, compared to analysts’ expectations of $390.95 million. Sarepta Therapeutics had a negative net margin of 38.34% and a negative return on equity of 50.74%. Sarepta Therapeutics’s revenue was down 32.7% on a year-over-year basis. During the same period last year, the firm earned $1.90 earnings per share. On average, sell-side analysts expect that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Sarepta Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Loop Capital set a $25.00 price objective on Sarepta Therapeutics in a research note on Tuesday, March 3rd. Royal Bank Of Canada boosted their price objective on Sarepta Therapeutics from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 8th. Jefferies Financial Group restated a “buy” rating and set a $30.00 target price on shares of Sarepta Therapeutics in a research note on Tuesday, March 3rd. Finally, Citigroup raised their target price on shares of Sarepta Therapeutics from $8.00 to $9.00 and gave the company a “sell” rating in a report on Tuesday. Nine investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, Sarepta Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $32.15.

Insider Activity

In other news, Director Stephen Mayo sold 7,239 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $17.02, for a total value of $123,207.78. Following the completion of the sale, the director directly owned 1,765 shares of the company’s stock, valued at approximately $30,040.30. The trade was a 80.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Ian Michael Estepan sold 13,187 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $22.31, for a total value of $294,201.97. Following the completion of the sale, the chief operating officer directly owned 193,300 shares of the company’s stock, valued at approximately $4,312,523. This trade represents a 6.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 7.60% of the stock is currently owned by insiders.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.