Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Down – Time to Sell?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $101.35, but opened at $78.62. Sarepta Therapeutics shares last traded at $79.25, with a volume of 2,825,667 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SRPT. StockNews.com lowered shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating on the stock in a report on Wednesday. Piper Sandler cut their price objective on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $163.00 price objective on shares of Sarepta Therapeutics in a report on Tuesday. Finally, Royal Bank of Canada cut their price objective on shares of Sarepta Therapeutics from $165.00 to $161.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $168.55.

Sarepta Therapeutics Stock Performance

The company has a 50-day moving average price of $109.26 and a two-hundred day moving average price of $118.86. The stock has a market capitalization of $7.76 billion, a P/E ratio of 63.98 and a beta of 0.79. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93.

Insider Transactions at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total transaction of $248,203.24. Following the completion of the transaction, the director now owns 27,812 shares of the company’s stock, valued at approximately $2,771,187.68. The trade was a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Manchester Capital Management LLC grew its holdings 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 worth $29,000 after purchasing an additional 110 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Sarepta Therapeutics by 169.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock worth $30,000 after buying an additional 156 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in Sarepta Therapeutics by 446.2% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock worth $35,000 after buying an additional 232 shares in the last quarter. Huntington National Bank boosted its stake in Sarepta Therapeutics by 150.9% in the third quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock worth $36,000 after buying an additional 175 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Sarepta Therapeutics in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 86.68% of the company’s stock.

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.