Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Sees Large Growth in Short Interest

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 6,100,000 shares, a growth of 25.8% from the March 15th total of 4,850,000 shares. Based on an average trading volume of 1,670,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 6.9% of the company’s stock are sold short.

Insider Activity

In other news, Director Claude Nicaise sold 2,491 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total value of $248,203.24. Following the sale, the director now directly owns 27,812 shares in the company, valued at approximately $2,771,187.68. This trade represents a 8.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System grew its holdings in Sarepta Therapeutics by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 26,500 shares of the biotechnology company’s stock valued at $3,222,000 after purchasing an additional 100 shares in the last quarter. EP Wealth Advisors LLC boosted its position in Sarepta Therapeutics by 2.2% in the 4th quarter. EP Wealth Advisors LLC now owns 4,988 shares of the biotechnology company’s stock valued at $606,000 after buying an additional 105 shares during the last quarter. Manchester Capital Management LLC grew its stake in shares of Sarepta Therapeutics by 86.6% during the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 110 shares in the last quarter. UMB Bank n.a. increased its holdings in Sarepta Therapeutics by 36.0% during the 4th quarter. UMB Bank n.a. now owns 521 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 138 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Sarepta Therapeutics by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 2,851 shares of the biotechnology company’s stock valued at $347,000 after buying an additional 139 shares during the last quarter. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

Sarepta Therapeutics Price Performance

SRPT stock opened at $55.23 on Tuesday. The stock has a 50-day moving average price of $81.12 and a two-hundred day moving average price of $107.25. The company has a market cap of $5.36 billion, a PE ratio of 44.18 and a beta of 0.93. 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 $48.01 and a 12-month high of $173.25.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $163.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Scotiabank dropped their price target on Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 20th. Morgan Stanley reduced their price objective on Sarepta Therapeutics from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. HC Wainwright reiterated a “neutral” rating and issued a $75.00 target price on shares of Sarepta Therapeutics in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company began coverage on shares of Sarepta Therapeutics in a research report on Friday, April 11th. They set an “overweight” rating and a $115.00 price target for the company. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Sarepta Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $158.70.

About Sarepta Therapeutics

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.