Sarepta Therapeutics (NASDAQ:SRPT) Reaches New 12-Month Low – Here’s Why

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $72.17 and last traded at $73.38, with a volume of 770178 shares traded. The stock had previously closed at $76.33.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $202.00 target price on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Scotiabank reduced their price objective on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, March 20th. Royal Bank of Canada lowered their target price on shares of Sarepta Therapeutics from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $163.00 price objective on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating on the stock in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $167.41.

Sarepta Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 57.45 and a beta of 0.79. The stock has a 50-day moving average price of $104.51 and a 200 day moving average price of $116.77.

Insider Buying and Selling at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value of $248,203.24. Following the transaction, the director now owns 27,812 shares of the company’s stock, valued at approximately $2,771,187.68. The trade was a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

Several institutional investors have recently bought and sold shares of the company. Manchester Capital Management LLC boosted its stake in shares of Sarepta Therapeutics by 86.6% in the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 110 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Sarepta Therapeutics by 169.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 156 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Sarepta Therapeutics by 446.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 232 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in Sarepta Therapeutics in the 4th quarter worth about $36,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in Sarepta Therapeutics by 164.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 194 shares during the period. 86.68% of the stock is owned by institutional investors and hedge funds.

About Sarepta Therapeutics

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.