Sarepta Therapeutics Sees Unusually High Options Volume (NASDAQ:SRPT)

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) was the recipient of unusually large options trading on Thursday. Investors acquired 6,583 put options on the stock. This represents an increase of 246% compared to the average volume of 1,901 put options.

Sarepta Therapeutics Stock Down 7.1 %

Shares of NASDAQ SRPT opened at $54.43 on Friday. The stock has a market cap of $5.28 billion, a PE ratio of 43.54 and a beta of 0.79. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. Sarepta Therapeutics has a 12-month low of $54.26 and a 12-month high of $173.25. The company has a 50-day moving average of $96.95 and a 200 day moving average of $113.78.

Insider Buying and Selling

In related news, Director Claude Nicaise sold 2,491 shares of Sarepta Therapeutics stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total value of $248,203.24. Following the completion of the sale, the director now directly owns 27,812 shares in the company, valued at $2,771,187.68. This trade represents a 8.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Sarepta Therapeutics by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 623,749 shares of the biotechnology company’s stock valued at $75,842,000 after purchasing an additional 12,000 shares during the period. Geode Capital Management LLC grew its stake in shares of Sarepta Therapeutics by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company’s stock worth $211,910,000 after purchasing an additional 44,306 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Sarepta Therapeutics in the 4th quarter valued at about $3,829,000. Nordea Investment Management AB increased its stake 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 valued at $8,228,000 after acquiring an additional 10,815 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Sarepta Therapeutics by 16,717.7% during the 4th 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 period. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $163.00 price target on shares of Sarepta Therapeutics in a research report on Tuesday, March 18th. Royal Bank of Canada cut shares of Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $161.00 to $87.00 in a report on Monday, March 31st. Needham & Company LLC dropped their target price on Sarepta Therapeutics from $202.00 to $183.00 and set a “buy” rating on the stock in a research report on Thursday. Scotiabank lowered their price target on Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 20th. Finally, HC Wainwright upgraded Sarepta Therapeutics from a “sell” rating to a “neutral” rating and set a $75.00 price objective for the company in a research report on Wednesday. Six 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.18.

Sarepta Therapeutics Company Profile

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.