Sarepta Therapeutics Inc (NASDAQ:SRPT) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. lowered its stake in Sarepta Therapeutics Inc (NASDAQ:SRPT) by 48.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,845 shares of the biotechnology company’s stock after selling 42,810 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Sarepta Therapeutics were worth $6,814,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SRPT. Janus Henderson Group PLC lifted its position in Sarepta Therapeutics by 44.9% in the first quarter. Janus Henderson Group PLC now owns 2,666,043 shares of the biotechnology company’s stock valued at $317,766,000 after buying an additional 826,449 shares during the last quarter. First Trust Advisors LP lifted its position in Sarepta Therapeutics by 788.0% in the second quarter. First Trust Advisors LP now owns 873,861 shares of the biotechnology company’s stock valued at $132,783,000 after buying an additional 775,458 shares during the last quarter. OppenheimerFunds Inc. lifted its position in Sarepta Therapeutics by 505.6% in the first quarter. OppenheimerFunds Inc. now owns 768,868 shares of the biotechnology company’s stock valued at $91,642,000 after buying an additional 641,904 shares during the last quarter. TimesSquare Capital Management LLC lifted its position in Sarepta Therapeutics by 27.1% in the first quarter. TimesSquare Capital Management LLC now owns 1,095,935 shares of the biotechnology company’s stock valued at $130,624,000 after buying an additional 233,345 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in Sarepta Therapeutics by 383,486.0% in the second quarter. Bessemer Group Inc. now owns 218,644 shares of the biotechnology company’s stock valued at $33,223,000 after buying an additional 218,587 shares during the last quarter. 95.57% of the stock is currently owned by institutional investors.

A number of research analysts have commented on SRPT shares. Citigroup decreased their target price on shares of Sarepta Therapeutics from $201.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Zacks Investment Research raised shares of Sarepta Therapeutics from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Wednesday, May 8th. ValuEngine cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. HC Wainwright set a $267.00 price target on shares of Sarepta Therapeutics and gave the stock a “buy” rating in a research report on Monday, June 17th. Finally, BidaskClub cut shares of Sarepta Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have assigned a buy rating to the company. Sarepta Therapeutics currently has an average rating of “Buy” and an average target price of $208.29.

In other news, CEO Douglas S. Ingram bought 16,252 shares of Sarepta Therapeutics stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $123.07 per share, with a total value of $2,000,133.64. Following the completion of the acquisition, the chief executive officer now directly owns 424,405 shares in the company, valued at $52,231,523.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hans Lennart Rudolf Wigzell sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the director now directly owns 21,717 shares in the company, valued at approximately $2,606,040. The disclosure for this sale can be found here. 6.60% of the stock is owned by company insiders.

Shares of SRPT traded down $2.84 during mid-day trading on Wednesday, hitting $123.06. 19,926 shares of the company’s stock were exchanged, compared to its average volume of 1,249,870. The company has a market capitalization of $9.38 billion, a P/E ratio of -22.42 and a beta of 2.01. Sarepta Therapeutics Inc has a fifty-two week low of $95.21 and a fifty-two week high of $165.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 11.15 and a current ratio of 12.17. The company has a 50-day moving average of $145.83.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($3.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.08) by ($2.66). The business had revenue of $94.67 million for the quarter, compared to analyst estimates of $91.05 million. Sarepta Therapeutics had a negative return on equity of 56.64% and a negative net margin of 165.52%. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.67) EPS. As a group, research analysts predict that Sarepta Therapeutics Inc will post -4.42 EPS for the current fiscal year.

Sarepta Therapeutics 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 diseases. The company offers EXONDYS 51, a disease-modifying therapy for duchenne muscular dystrophy (DMD). Its products pipeline include Golodirsen, a product candidate that binds to exon 53 of dystrophin pre-mRNA, which results in exclusion or skipping of exon during mRNA processing in patients with genetic mutations; and Casimersen, a product candidate that uses phosphorodiamidate morpholino oligomer (PMO) chemistry and exon-skipping technology to skip exon 45 of the DMD gene.

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

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