C WorldWide Group Holding A S reduced its stake in shares of Sarepta Therapeutics Inc (NASDAQ:SRPT) by 32.2% during the third quarter, Holdings Channel reports. The institutional investor owned 47,046 shares of the biotechnology company’s stock after selling 22,381 shares during the quarter. C WorldWide Group Holding A S’s holdings in Sarepta Therapeutics were worth $7,598,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in SRPT. Waddell & Reed Financial Inc. bought a new position in shares of Sarepta Therapeutics during the second quarter valued at about $103,682,000. Millennium Management LLC grew its stake in shares of Sarepta Therapeutics by 242.2% during the second quarter. Millennium Management LLC now owns 858,407 shares of the biotechnology company’s stock valued at $113,464,000 after buying an additional 607,588 shares during the last quarter. American Century Companies Inc. bought a new position in shares of Sarepta Therapeutics during the third quarter valued at about $65,705,000. Boxer Capital LLC bought a new position in shares of Sarepta Therapeutics during the second quarter valued at about $49,568,000. Finally, Macquarie Group Ltd. grew its stake in shares of Sarepta Therapeutics by 444.0% during the second quarter. Macquarie Group Ltd. now owns 383,093 shares of the biotechnology company’s stock valued at $50,637,000 after buying an additional 312,670 shares during the last quarter. 89.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SRPT opened at $137.18 on Wednesday. The company has a quick ratio of 7.84, a current ratio of 8.85 and a debt-to-equity ratio of 0.65. Sarepta Therapeutics Inc has a one year low of $50.51 and a one year high of $176.50. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of -83.65 and a beta of 1.59.
In other Sarepta Therapeutics news, Director Hans Lennart Rudolf Wigzell sold 6,667 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $140.50, for a total value of $936,713.50. Following the completion of the sale, the director now directly owns 126,534 shares in the company, valued at $17,778,027. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas S. Ingram acquired 16,695 shares of the stock in a transaction on Tuesday, October 30th. The stock was bought at an average price of $120.39 per share, with a total value of $2,009,911.05. Following the completion of the acquisition, the chief executive officer now directly owns 412,811 shares of the company’s stock, valued at $49,698,316.29. The disclosure for this purchase can be found here. Company insiders own 7.90% of the company’s stock.
A number of research analysts have recently issued reports on the company. Citigroup raised their price objective on Sarepta Therapeutics from $174.00 to $188.00 and gave the company a “buy” rating in a research note on Tuesday. BidaskClub lowered shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 31st. Piper Jaffray Companies dropped their target price on shares of Sarepta Therapeutics from $189.00 to $168.00 and set an “overweight” rating for the company in a report on Friday, October 26th. Zacks Investment Research upgraded shares of Sarepta Therapeutics from a “hold” rating to a “buy” rating and set a $147.00 target price for the company in a report on Tuesday, October 16th. Finally, Sanford C. Bernstein began coverage on shares of Sarepta Therapeutics in a report on Friday, October 12th. They set an “outperform” rating and a $170.00 target price for the company. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $169.19.
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Sarepta Therapeutics Company Profile
Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare neuromuscular diseases. The company offers EXONDYS 51, a disease-modifying therapy for the treatment of duchenne muscular dystrophy (DMD), which is a rare genetic muscle-wasting disease caused by the absence of dystrophin.
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