Simplify Asset Management Inc. Has $16.52 Million Holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Simplify Asset Management Inc. raised its position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 15.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 104,536 shares of the biotechnology company’s stock after purchasing an additional 14,013 shares during the period. Sarepta Therapeutics accounts for approximately 1.1% of Simplify Asset Management Inc.’s portfolio, making the stock its 12th largest position. Simplify Asset Management Inc. owned 0.11% of Sarepta Therapeutics worth $16,517,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SRPT. Principal Securities Inc. bought a new position in shares of Sarepta Therapeutics during the 4th quarter worth approximately $26,000. Mather Group LLC. bought a new position in Sarepta Therapeutics during the first quarter worth $28,000. Riggs Asset Managment Co. Inc. grew its holdings in Sarepta Therapeutics by 125.0% in the first quarter. Riggs Asset Managment Co. Inc. now owns 225 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 125 shares during the period. Innealta Capital LLC bought a new stake in Sarepta Therapeutics in the second quarter valued at $31,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of Sarepta Therapeutics during the first quarter valued at about $32,000. Institutional investors own 86.68% of the company’s stock.

Insider Activity at Sarepta Therapeutics

In other news, insider Bilal Arif sold 7,859 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $163.08, for a total value of $1,281,645.72. Following the completion of the transaction, the insider now directly owns 21,261 shares of the company’s stock, valued at $3,467,243.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Ryan Edward Brown sold 38,957 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $161.61, for a total transaction of $6,295,840.77. Following the completion of the transaction, the executive vice president now directly owns 17,129 shares in the company, valued at approximately $2,768,217.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bilal Arif sold 7,859 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the transaction, the insider now owns 21,261 shares of the company’s stock, valued at $3,467,243.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,801 shares of company stock worth $8,399,586. Corporate insiders own 7.70% of the company’s stock.

Sarepta Therapeutics Trading Up 1.7 %

Shares of SRPT opened at $127.10 on Friday. Sarepta Therapeutics, Inc. has a fifty-two week low of $55.25 and a fifty-two week high of $173.25. The business has a 50-day moving average of $138.26 and a 200 day moving average of $132.61. The firm has a market cap of $12.01 billion, a P/E ratio of 1,155.45 and a beta of 0.81. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.19 and a current ratio of 3.90.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. The firm had revenue of $362.90 million during the quarter, compared to the consensus estimate of $394.38 million. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. The company’s revenue was up 38.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.27) earnings per share. As a group, research analysts forecast that Sarepta Therapeutics, Inc. will post 1.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Robert W. Baird upped their price target on Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Evercore ISI raised shares of Sarepta Therapeutics from an “in-line” rating to an “outperform” rating and dropped their price target for the company from $185.00 to $179.00 in a research report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $235.00 price objective on shares of Sarepta Therapeutics in a report on Thursday, June 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $181.00 price objective on shares of Sarepta Therapeutics in a research note on Thursday. Finally, Bank of America lifted their target price on Sarepta Therapeutics from $166.00 to $213.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Three 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.39.

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.