Connective Portfolio Management LLC Takes $1.62 Million Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Connective Portfolio Management LLC purchased a new stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,000 shares of the biotechnology company’s stock, valued at approximately $1,624,000. Sarepta Therapeutics makes up about 1.8% of Connective Portfolio Management LLC’s holdings, making the stock its 11th biggest position.

Several other large investors have also made changes to their positions in SRPT. Riggs Asset Managment Co. Inc. grew its position in Sarepta Therapeutics by 33.3% in the second quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 75 shares in the last quarter. GAMMA Investing LLC increased its position in Sarepta Therapeutics by 37.0% during the first quarter. GAMMA Investing LLC now owns 322 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 87 shares during the period. EP Wealth Advisors LLC raised its position in shares of Sarepta Therapeutics by 2.1% in the second quarter. EP Wealth Advisors LLC now owns 4,899 shares of the biotechnology company’s stock valued at $774,000 after buying an additional 103 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Sarepta Therapeutics by 1.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,331 shares of the biotechnology company’s stock valued at $1,000,000 after acquiring an additional 120 shares during the period. Finally, Innealta Capital LLC bought a new position in Sarepta Therapeutics in the second quarter valued at approximately $31,000. Institutional investors own 86.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SRPT shares. UBS Group raised their target price on shares of Sarepta Therapeutics from $173.00 to $188.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Robert W. Baird raised their price objective on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Barclays decreased their price target on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets lifted their price target on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Finally, Piper Sandler lowered their price objective on Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $187.44.

Sarepta Therapeutics Price Performance

Shares of SRPT stock traded down $2.95 during trading hours on Wednesday, hitting $116.77. The stock had a trading volume of 63,461 shares, compared to its average volume of 1,267,029. The stock’s 50-day moving average price is $131.50 and its two-hundred day moving average price is $132.66. Sarepta Therapeutics, Inc. has a one year low of $55.25 and a one year high of $173.25. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 1,088.36 and a beta of 0.82. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.90 and a quick ratio of 3.19.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. The firm had revenue of $362.90 million for the quarter, compared to analysts’ expectations of $394.38 million. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. The business’s revenue was up 38.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.27) EPS. Equities analysts forecast that Sarepta Therapeutics, Inc. will post 1.45 EPS for the current year.

Insider Activity

In other news, Director Michael Andrew Chambers bought 37,038 shares of Sarepta Therapeutics stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $133.80 per share, for a total transaction of $4,955,684.40. Following the completion of the acquisition, the director now owns 284,034 shares of the company’s stock, valued at $38,003,749.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Sarepta Therapeutics news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $137.36, for a total transaction of $822,099.60. Following the sale, the chief financial officer now directly owns 33,946 shares of the company’s stock, valued at approximately $4,662,822.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Andrew Chambers purchased 37,038 shares of Sarepta Therapeutics stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average price of $133.80 per share, with a total value of $4,955,684.40. Following the completion of the transaction, the director now owns 284,034 shares of the company’s stock, valued at $38,003,749.20. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 7.70% of the company’s stock.

Sarepta Therapeutics 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; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.