The Manufacturers Life Insurance Company Takes Position in Sarepta Therapeutics, Inc. $SRPT

The Manufacturers Life Insurance Company bought a new stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 51,565 shares of the biotechnology company’s stock, valued at approximately $927,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Sarepta Therapeutics during the second quarter worth about $341,339,000. Vanguard Group Inc. boosted its position in shares of Sarepta Therapeutics by 9.2% in the fourth quarter. Vanguard Group Inc. now owns 11,810,729 shares of the biotechnology company’s stock worth $254,167,000 after buying an additional 993,283 shares during the period. AQR Capital Management LLC grew its stake in shares of Sarepta Therapeutics by 454.6% in the fourth quarter. AQR Capital Management LLC now owns 7,796,535 shares of the biotechnology company’s stock valued at $167,781,000 after buying an additional 6,390,860 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Sarepta Therapeutics by 107.6% in the first quarter. First Trust Advisors LP now owns 4,135,788 shares of the biotechnology company’s stock valued at $89,995,000 after buying an additional 2,143,211 shares in the last quarter. Finally, Erste Asset Management GmbH raised its holdings in shares of Sarepta Therapeutics by 1.6% during the 4th quarter. Erste Asset Management GmbH now owns 2,728,945 shares of the biotechnology company’s stock valued at $58,727,000 after buying an additional 43,000 shares during the period. 86.68% of the stock is owned by hedge funds and other institutional investors.

Sarepta Therapeutics Trading Down 2.1%

Shares of NASDAQ SRPT opened at $22.50 on Friday. The company has a quick ratio of 2.62, a current ratio of 4.42 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average price is $18.26 and its two-hundred day moving average price is $18.47. Sarepta Therapeutics, Inc. has a 52-week low of $14.68 and a 52-week high of $25.32. The stock has a market capitalization of $2.38 billion, a P/E ratio of -7.76, a PEG ratio of 0.32 and a beta of 0.27.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $366.39 million. During the same quarter last year, the firm earned $2.02 EPS. The business’s revenue was down 34.3% on a year-over-year basis. On average, analysts anticipate that Sarepta Therapeutics, Inc. will post 3.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wall Street Zen cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. HC Wainwright reaffirmed a “buy” rating on shares of Sarepta Therapeutics in a report on Tuesday, July 28th. Weiss Ratings downgraded shares of Sarepta Therapeutics from a “sell (d)” rating to a “sell (e+)” rating in a research note on Wednesday, August 19th. Piper Sandler cut their price objective on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Finally, Wolfe Research upgraded shares of Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a report on Thursday, July 9th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.06.

Sarepta Therapeutics Profile

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.