Simplify Asset Management Inc. Trims Stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Simplify Asset Management Inc. cut its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 83.0% in the fourth quarter, HoldingsChannel reports. The fund owned 32,779 shares of the biotechnology company’s stock after selling 160,231 shares during the period. Simplify Asset Management Inc.’s holdings in Sarepta Therapeutics were worth $3,986,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Manchester Capital Management LLC increased its holdings in shares of Sarepta Therapeutics by 86.6% during the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 110 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings 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 valued at $30,000 after buying an additional 156 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in Sarepta Therapeutics by 446.2% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 232 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Sarepta Therapeutics in the fourth quarter worth about $36,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Sarepta Therapeutics by 164.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock opened at $74.10 on Friday. The business’s 50 day moving average price is $107.19 and its 200 day moving average price is $118.00. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 59.28 and a beta of 0.79. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84. Sarepta Therapeutics, Inc. has a one year low of $73.05 and a one year high of $173.25.

Insiders Place Their Bets

In other news, Director Claude Nicaise sold 2,491 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total transaction of $248,203.24. Following 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 7.70% of the company’s stock.

Analysts Set New Price Targets

SRPT has been the subject of a number of analyst reports. Scotiabank reduced their price target on Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday. HC Wainwright reiterated a “sell” rating and set a $75.00 target price on shares of Sarepta Therapeutics in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $202.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Cantor Fitzgerald restated an “overweight” rating and set a $163.00 price objective on shares of Sarepta Therapeutics in a research report on Tuesday, March 18th. Finally, Piper Sandler dropped their target price on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. One 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $167.41.

Sarepta Therapeutics 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.