Marshall Wace North America L.P. reduced its stake in Sarepta Therapeutics Inc (NASDAQ:SRPT) by 44.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 156,739 shares of the biotechnology company’s stock after selling 123,102 shares during the quarter. Marshall Wace North America L.P. owned approximately 0.23% of Sarepta Therapeutics worth $25,315,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC raised its position in Sarepta Therapeutics by 1.4% in the 3rd quarter. FMR LLC now owns 9,887,230 shares of the biotechnology company’s stock valued at $1,596,887,000 after buying an additional 137,351 shares during the last quarter. Vanguard Group Inc. raised its position in Sarepta Therapeutics by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,384,899 shares of the biotechnology company’s stock valued at $869,715,000 after buying an additional 170,999 shares during the last quarter. BlackRock Inc. raised its position in Sarepta Therapeutics by 2.6% in the 3rd quarter. BlackRock Inc. now owns 4,808,259 shares of the biotechnology company’s stock valued at $776,581,000 after buying an additional 121,003 shares during the last quarter. FIL Ltd raised its position in Sarepta Therapeutics by 67.6% in the 3rd quarter. FIL Ltd now owns 1,793,701 shares of the biotechnology company’s stock valued at $289,701,000 after buying an additional 723,542 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Sarepta Therapeutics by 0.5% in the 3rd quarter. Jennison Associates LLC now owns 1,219,503 shares of the biotechnology company’s stock valued at $196,962,000 after buying an additional 5,604 shares during the last quarter. 90.85% of the stock is owned by institutional investors and hedge funds.
Shares of Sarepta Therapeutics stock opened at $121.38 on Friday. Sarepta Therapeutics Inc has a 1 year low of $50.68 and a 1 year high of $176.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 7.84 and a current ratio of 8.85.
A number of equities research analysts recently commented on the company. BidaskClub raised Sarepta Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 29th. Cantor Fitzgerald assumed coverage on Sarepta Therapeutics in a research report on Monday, October 1st. They issued an “overweight” rating and a $217.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target (up from $187.00) on shares of Sarepta Therapeutics in a research report on Wednesday, September 26th. BTIG Research set a $190.00 price target on Sarepta Therapeutics and gave the company a “buy” rating in a research report on Monday, September 24th. Finally, Needham & Company LLC lowered their price target on Sarepta Therapeutics to $196.00 and set a “buy” rating for the company in a research report on Monday, September 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $169.19.
In other news, CEO Douglas S. Ingram purchased 16,695 shares of the business’s stock in a transaction dated Tuesday, October 30th. The stock was bought at an average price of $120.39 per share, for a total transaction of $2,009,911.05. Following the purchase, the chief executive officer now owns 412,811 shares of the company’s stock, valued at $49,698,316.29. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hans Lennart Rudolf Wigzell sold 6,667 shares of the stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $140.50, for a total value of $936,713.50. Following the transaction, the director now owns 126,534 shares of the company’s stock, valued at approximately $17,778,027. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by corporate insiders.
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About Sarepta Therapeutics
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 neuromuscular diseases. The company offers EXONDYS 51, a disease-modifying therapy for the treatment of duchenne muscular dystrophy (DMD), which is a rare genetic muscle-wasting disease caused by the absence of dystrophin.
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