Sarepta Therapeutics Inc. (SRPT) Sees Large Decrease in Short Interest
Sarepta Therapeutics Inc. (NASDAQ:SRPT) was the target of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 11,282,680 shares, a decrease of 21.0% from the September 15th total of 14,278,504 shares. Based on an average daily volume of 11,782,732 shares, the short-interest ratio is presently 1.0 days. Approximately 22.9% of the company’s shares are short sold.
Shares of Sarepta Therapeutics (NASDAQ:SRPT) opened at 54.19 on Friday. Sarepta Therapeutics has a one year low of $8.00 and a one year high of $63.73. The firm’s 50 day moving average is $44.27 and its 200-day moving average is $26.36. The firm’s market capitalization is $2.60 billion.
Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Tuesday, July 19th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.19) by $0.16. During the same quarter in the prior year, the company earned ($0.87) earnings per share. On average, equities research analysts predict that Sarepta Therapeutics will post ($4.23) earnings per share for the current fiscal year.
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In other Sarepta Therapeutics news, CEO Edward M. Md Kaye sold 40,179 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $60.00, for a total transaction of $2,410,740.00. Following the transaction, the chief executive officer now owns 117,162 shares in the company, valued at approximately $7,029,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David T. Howton sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $60.00, for a total value of $420,000.00. Following the transaction, the senior vice president now owns 28,453 shares in the company, valued at approximately $1,707,180. The disclosure for this sale can be found here. Company insiders own 10.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC boosted its position in Sarepta Therapeutics by 5.5% in the first quarter. TIAA CREF Investment Management LLC now owns 216,707 shares of the company’s stock worth $4,230,000 after buying an additional 11,334 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Sarepta Therapeutics during the first quarter worth approximately $13,506,000. BlackRock Fund Advisors raised its stake in shares of Sarepta Therapeutics by 2.2% in the first quarter. BlackRock Fund Advisors now owns 1,661,818 shares of the company’s stock worth $32,439,000 after buying an additional 36,371 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Sarepta Therapeutics by 2.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,068,913 shares of the company’s stock worth $20,865,000 after buying an additional 25,799 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Sarepta Therapeutics by 54.0% in the first quarter. State Street Corp now owns 2,467,376 shares of the company’s stock worth $48,168,000 after buying an additional 865,658 shares during the last quarter. 65.29% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the company. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $60.00 target price on shares of Sarepta Therapeutics in a report on Sunday, July 17th. Jefferies Group set a $58.00 target price on Sarepta Therapeutics and gave the company a “hold” rating in a research note on Sunday, October 2nd. JMP Securities reiterated an “underperform” rating and set a $10.00 target price on shares of Sarepta Therapeutics in a research note on Thursday, September 15th. Wedbush reiterated an “outperform” rating and set a $66.00 target price on shares of Sarepta Therapeutics in a research note on Tuesday, September 20th. Finally, Piper Jaffray Cos. set a $68.00 target price on Sarepta Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Sarepta Therapeutics currently has an average rating of “Buy” and a consensus target price of $58.44.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery and development of ribonucleic acid (RNA)-targeted therapeutics for the treatment of rare, infectious and other diseases. The Company operates in one segment: the development of pharmaceutical products on its own behalf or in collaboration with others.
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