Avoro Capital Advisors LLC Sells 1,344,444 Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Avoro Capital Advisors LLC lessened its position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 30.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,000,000 shares of the biotechnology company’s stock after selling 1,344,444 shares during the quarter. Sarepta Therapeutics accounts for 6.3% of Avoro Capital Advisors LLC’s portfolio, making the stock its 5th largest position. Avoro Capital Advisors LLC owned approximately 3.17% of Sarepta Therapeutics worth $474,000,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Securities Inc. acquired a new position in shares of Sarepta Therapeutics in the 4th quarter valued at $26,000. Mather Group LLC. purchased a new stake in Sarepta Therapeutics during the 1st quarter worth approximately $28,000. Riggs Asset Managment Co. Inc. boosted its stake in shares of 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 acquiring an additional 125 shares during the last quarter. Innealta Capital LLC purchased a new position in Sarepta Therapeutics in the 2nd quarter valued at $31,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Sarepta Therapeutics during the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 86.68% of the company’s stock.

Insider Buying and Selling at Sarepta Therapeutics

In related news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction of $822,099.60. Following the completion of the sale, the chief financial officer now owns 33,946 shares in the company, valued at approximately $4,662,822.56. The sale was disclosed in a document filed 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 that occurred on Friday, August 30th. The stock was sold at an average price of $137.36, for a total transaction of $822,099.60. Following the completion of the sale, the chief financial officer now directly owns 33,946 shares of the company’s stock, valued at approximately $4,662,822.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ryan Edward Brown sold 38,957 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $161.61, for a total value 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 disclosure for this sale can be found here. 7.70% of the stock is owned by company insiders.

Analyst Ratings Changes

SRPT has been the subject of several analyst reports. William Blair upgraded Sarepta Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Needham & Company LLC reissued a “buy” rating and set a $235.00 price objective on shares of Sarepta Therapeutics in a research report on Thursday, June 27th. Leerink Partners lifted their target price on shares of Sarepta Therapeutics from $165.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, June 24th. Barclays decreased their target price on Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $181.00 price objective on shares of Sarepta Therapeutics in a report on Thursday. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sarepta Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $187.39.

Sarepta Therapeutics Stock Performance

Shares of SRPT opened at $127.21 on Monday. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 1.05. Sarepta Therapeutics, Inc. has a 52-week low of $55.25 and a 52-week high of $173.25. The stock has a 50 day moving average price of $137.26 and a 200 day moving average price of $132.75. The company has a market capitalization of $12.02 billion, a price-to-earnings ratio of 1,156.45 and a beta of 0.81.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. The company had revenue of $362.90 million for the quarter, compared to analyst estimates of $394.38 million. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.27) earnings per share. Research analysts predict that Sarepta Therapeutics, Inc. will post 1.47 EPS for the current fiscal year.

Sarepta Therapeutics Company 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.