Seven Eight Capital LP Has $1.07 Million Holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Seven Eight Capital LP lifted its stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 39.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,279 shares of the biotechnology company’s stock after acquiring an additional 2,330 shares during the quarter. Seven Eight Capital LP’s holdings in Sarepta Therapeutics were worth $1,072,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in Sarepta Therapeutics by 37.0% during the first quarter. GAMMA Investing LLC now owns 322 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 87 shares during the period. Vanguard Capital Wealth Advisors lifted its stake in shares of Sarepta Therapeutics by 3.8% in the fourth quarter. Vanguard Capital Wealth Advisors now owns 2,450 shares of the biotechnology company’s stock worth $236,000 after buying an additional 90 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Sarepta Therapeutics by 125.0% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 225 shares of the biotechnology company’s stock worth $29,000 after buying an additional 125 shares during the period. WCM Investment Management LLC grew its stake in Sarepta Therapeutics by 2.3% in the 1st quarter. WCM Investment Management LLC now owns 6,279 shares of the biotechnology company’s stock valued at $813,000 after buying an additional 142 shares during the last quarter. Finally, New York Life Investment Management LLC grew its stake in Sarepta Therapeutics by 1.7% in the 4th quarter. New York Life Investment Management LLC now owns 9,942 shares of the biotechnology company’s stock valued at $959,000 after buying an additional 166 shares during the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

Insiders Place Their Bets

In other news, insider Dallan Murray sold 3,635 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $140.00, for a total transaction of $508,900.00. Following the sale, the insider now directly owns 18,125 shares of the company’s stock, valued at $2,537,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Ryan Edward Brown sold 38,957 shares of Sarepta Therapeutics stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $161.61, for a total value of $6,295,840.77. Following the completion of the sale, the executive vice president now directly owns 17,129 shares in the company, valued at $2,768,217.69. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dallan Murray sold 3,635 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $140.00, for a total transaction of $508,900.00. Following the transaction, the insider now owns 18,125 shares in the company, valued at $2,537,500. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,451 shares of company stock valued at $8,086,386. Insiders own 7.70% of the company’s stock.

Wall Street Analyst Weigh In

SRPT has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and set a $205.00 price target on shares of Sarepta Therapeutics in a report on Monday, July 1st. Oppenheimer upgraded Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $180.00 target price for the company in a research note on Tuesday, May 14th. JPMorgan Chase & Co. dropped their price target on Sarepta Therapeutics from $177.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Evercore ISI increased their price objective on Sarepta Therapeutics from $139.00 to $185.00 and gave the company an “in-line” rating in a research report on Monday, June 24th. Finally, Barclays boosted their target price on shares of Sarepta Therapeutics from $185.00 to $226.00 and gave the stock an “overweight” rating in a research report on Friday, June 21st. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Sarepta Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $187.72.

Sarepta Therapeutics Price Performance

NASDAQ SRPT traded down $1.64 during trading hours on Wednesday, reaching $146.00. 575,122 shares of the company’s stock were exchanged, compared to its average volume of 1,384,695. The firm has a fifty day moving average of $136.92 and a 200-day moving average of $129.31. The company has a current ratio of 4.05, a quick ratio of 3.44 and a debt-to-equity ratio of 1.18. Sarepta Therapeutics, Inc. has a one year low of $55.25 and a one year high of $173.25. The stock has a market cap of $13.80 billion, a PE ratio of 1,329.64 and a beta of 0.89.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its earnings results on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.84. The company had revenue of $413.50 million during the quarter, compared to analyst estimates of $375.52 million. Sarepta Therapeutics had a return on equity of 2.20% and a net margin of 1.20%. The firm’s quarterly revenue was up 63.1% compared to the same quarter last year. During the same period last year, the company posted ($1.44) earnings per share. On average, equities research analysts predict that Sarepta Therapeutics, Inc. will post 3.76 earnings per share for the current fiscal year.

About Sarepta Therapeutics

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.