Empowered Funds LLC Invests $3.42 Million in Sarepta Therapeutics, Inc. $SRPT

Empowered Funds LLC purchased a new position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) during the 2nd quarter, HoldingsChannel reports. The fund purchased 190,586 shares of the biotechnology company’s stock, valued at approximately $3,425,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jefferies Financial Group Inc. purchased a new position in Sarepta Therapeutics in the 2nd quarter worth approximately $3,418,000. Capstone Investment Advisors LLC purchased a new stake in shares of Sarepta Therapeutics in the second quarter valued at approximately $282,000. One68 Global Capital LLC acquired a new stake in shares of Sarepta Therapeutics in the second quarter valued at approximately $284,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Sarepta Therapeutics during the second quarter worth approximately $173,000. Finally, Corient Private Wealth LP purchased a new position in Sarepta Therapeutics during the second quarter worth approximately $189,000. 86.68% of the stock is currently owned by institutional investors and hedge funds.

Sarepta Therapeutics Stock Performance

NASDAQ:SRPT opened at $21.33 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.62 and a current ratio of 4.42. The stock has a market capitalization of $2.25 billion, a P/E ratio of -7.36, a PEG ratio of 0.31 and a beta of 0.26. The company has a 50 day moving average price of $17.88 and a 200 day moving average price of $18.36. Sarepta Therapeutics, Inc. has a fifty-two week low of $14.68 and a fifty-two week high of $25.32.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.42. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The company had revenue of $401.25 million for the quarter, compared to analyst estimates of $366.39 million. During the same quarter in the previous year, the company earned $2.02 earnings per share. The firm’s quarterly revenue was down 34.3% compared to the same quarter last year. Equities research analysts forecast that Sarepta Therapeutics, Inc. will post 3.43 EPS for the current year.

Analyst Ratings Changes

SRPT has been the subject of several analyst reports. Zacks Research upgraded Sarepta Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Piper Sandler lowered their price target on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings lowered shares of Sarepta Therapeutics from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday, August 19th. Wolfe Research upgraded shares of Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research report on Thursday, July 9th. Finally, Wall Street Zen downgraded shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.06.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.