Traders Buy Large Volume of Sarepta Therapeutics Put Options (NASDAQ:SRPT)

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) was the recipient of some unusual options trading on Thursday. Stock investors bought 6,583 put options on the company. This is an increase of approximately 246% compared to the average daily volume of 1,901 put options.

Sarepta Therapeutics Price Performance

Shares of SRPT stock traded down $4.20 during mid-day trading on Thursday, reaching $58.27. The company’s stock had a trading volume of 1,112,678 shares, compared to its average volume of 1,434,833. The firm’s 50-day moving average is $99.40 and its two-hundred day moving average is $114.66. The company has a market cap of $5.65 billion, a P/E ratio of 46.61 and a beta of 0.79. Sarepta Therapeutics has a 1-year low of $57.14 and a 1-year high of $173.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84.

Insider Activity at Sarepta Therapeutics

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of the company’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 directly owns 27,812 shares of the company’s stock, valued at $2,771,187.68. This represents a 8.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of SRPT. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sarepta Therapeutics by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 623,749 shares of the biotechnology company’s stock worth $75,842,000 after acquiring an additional 12,000 shares in the last quarter. Geode Capital Management LLC increased its position in Sarepta Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company’s stock valued at $211,910,000 after acquiring an additional 44,306 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Sarepta Therapeutics in the fourth quarter worth about $3,829,000. Nordea Investment Management AB lifted its position in shares of Sarepta Therapeutics by 19.1% during the fourth quarter. Nordea Investment Management AB now owns 67,546 shares of the biotechnology company’s stock worth $8,228,000 after purchasing an additional 10,815 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Sarepta Therapeutics by 16,717.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,434 shares of the biotechnology company’s stock valued at $10,602,000 after purchasing an additional 84,926 shares during the last quarter. Institutional investors own 86.68% of the company’s stock.

Wall Street Analysts Forecast Growth

SRPT has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $163.00 price objective on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Needham & Company LLC reduced their price target on shares of Sarepta Therapeutics from $202.00 to $183.00 and set a “buy” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft decreased their price target on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating for the company in a research note on Wednesday, March 19th. Royal Bank of Canada cut Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $161.00 to $87.00 in a research report on Monday. Finally, HC Wainwright raised shares of Sarepta Therapeutics from a “sell” rating to a “neutral” rating and set a $75.00 price objective on the stock in a report on Wednesday. Six investment analysts have rated the stock with a hold rating, seventeen 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.18.

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.