First Trust Advisors LP Has $38.34 Million Stake in Sarepta Therapeutics Inc (SRPT)

First Trust Advisors LP lifted its stake in Sarepta Therapeutics Inc (NASDAQ:SRPT) by 273.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 237,387 shares of the biotechnology company’s stock after acquiring an additional 173,782 shares during the period. First Trust Advisors LP’s holdings in Sarepta Therapeutics were worth $38,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the company. IFP Advisors Inc increased its stake in shares of Sarepta Therapeutics by 40.2% in the 3rd quarter. IFP Advisors Inc now owns 1,654 shares of the biotechnology company’s stock worth $267,000 after purchasing an additional 474 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Sarepta Therapeutics by 10.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 32,500 shares of the biotechnology company’s stock worth $5,249,000 after purchasing an additional 3,000 shares in the last quarter. Chevy Chase Trust Holdings Inc. purchased a new stake in shares of Sarepta Therapeutics in the 3rd quarter worth $242,000. First Quadrant L P CA purchased a new stake in shares of Sarepta Therapeutics in the 3rd quarter worth $130,000. Finally, Oakbrook Investments LLC purchased a new stake in shares of Sarepta Therapeutics in the 3rd quarter worth $319,000. Hedge funds and other institutional investors own 89.57% of the company’s stock.

SRPT opened at $133.76 on Thursday. Sarepta Therapeutics Inc has a 52 week low of $47.25 and a 52 week high of $176.50. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of -81.56 and a beta of 1.16. The company has a quick ratio of 9.89, a current ratio of 10.88 and a debt-to-equity ratio of 0.62.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Wednesday, October 24th. The biotechnology company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.29). Sarepta Therapeutics had a negative net margin of 89.46% and a negative return on equity of 22.76%. The company had revenue of $78.49 million for the quarter, compared to the consensus estimate of $78.84 million. On average, sell-side analysts forecast that Sarepta Therapeutics Inc will post -3.99 EPS for the current fiscal year.

In related news, CEO Douglas S. Ingram acquired 16,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The stock was acquired at an average price of $125.26 per share, with a total value of $2,004,160.00. Following the acquisition, the chief executive officer now directly owns 399,250 shares of the company’s stock, valued at $50,010,055. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sandesh Mahatme sold 107,524 shares of the stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $127.74, for a total transaction of $13,735,115.76. Following the transaction, the chief financial officer now directly owns 48,381 shares of the company’s stock, valued at approximately $6,180,188.94. The disclosure for this sale can be found here. 7.90% of the stock is owned by corporate insiders.

A number of equities research analysts have issued reports on SRPT shares. BidaskClub lowered Sarepta Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 27th. HC Wainwright set a $267.00 price target on Sarepta Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, September 4th. Citigroup started coverage on Sarepta Therapeutics in a research note on Tuesday, August 14th. They issued a “buy” rating for the company. Bank of America started coverage on Sarepta Therapeutics in a research note on Friday, September 14th. They issued a “buy” rating and a $199.00 price target for the company. Finally, Piper Jaffray Companies cut their price target on Sarepta Therapeutics from $189.00 to $168.00 and set an “overweight” rating for the company in a research note on Friday, October 26th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $168.37.

About Sarepta Therapeutics

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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Institutional Ownership by Quarter for Sarepta Therapeutics (NASDAQ:SRPT)

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