C WorldWide Group Increases Stake in Sarepta Therapeutics by 95.9%

C WorldWide Group Holding A S significantly increased its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by an impressive 95.9% during the second quarter of 2023. According to a filing with the Securities and Exchange Commission, the firm now holds 490,329 shares of the biotechnology company, following the acquisition of an additional 240,000 shares. This investment amounts to approximately $8.39 million, representing about 0.50% of Sarepta’s total shares.

Other institutional investors and hedge funds have also made notable adjustments to their positions in Sarepta Therapeutics. For instance, Inspire Investing LLC acquired a new stake valued at $967,000 in the first quarter. Additionally, UBS Asset Management raised its holdings by 54.8%, now owning 463,342 shares worth $29.57 million after purchasing 164,041 shares during the same period.

Tempus Wealth Planning LLC made a substantial increase of 475.8% in its stake during the second quarter, acquiring 20,658 shares valued at $353,000. Similarly, Assenagon Asset Management S.A. boosted its holdings by 21.8%, now owning 867,939 shares worth $14.84 million. Finally, Trexquant Investment LP purchased a new stake in Sarepta valued at approximately $11.99 million. Collectively, institutional investors now hold around 86.68% of Sarepta’s stock.

Analyst Ratings and Stock Performance

Sarepta Therapeutics has been the focus of various research reports recently. On July 29, William Blair reaffirmed an “outperform” rating for the company’s shares. On August 9, Mizuho upgraded its rating from “neutral” to “outperform” and raised the price target from $19.00 to $26.00. Conversely, Robert W. Baird adjusted its price target down to $15.00 from $21.00, maintaining a “neutral” rating.

Additionally, Wall Street Zen upgraded Sarepta from a “sell” to a “hold” rating, while Royal Bank of Canada increased its price target from $14.00 to $16.00, assigning a “sector perform” rating. Currently, eight analysts rate the stock as a Buy, fifteen as Hold, and six as Sell. According to MarketBeat.com, the average rating is “Hold,” with a price target of $33.75.

On the trading front, Sarepta Therapeutics saw its stock price increase by 15.2% recently, opening at $18.67. The company has experienced a one-year low of $10.41 and a high of $138.81, with a current market capitalization of $1.82 billion. The price-to-earnings (P/E) ratio stands at -21.46, and the stock has a beta of 0.52. Key financial ratios include a debt-to-equity ratio of 0.84, a quick ratio of 1.81, and a current ratio of 2.89. The company’s 50-day simple moving average is $20.33, while the 200-day average is $26.23.

Recent Financial Results

Sarepta Therapeutics last released its quarterly earnings data on November 3, 2023. The company reported an earnings per share (EPS) of ($0.13), falling short of analyst expectations of $0.02 by ($0.15). The company recorded a negative net margin of 2.34% and a negative return on equity of 1.03%.

During the quarter, Sarepta generated revenue of $399.36 million, exceeding analyst estimates of $331.51 million. However, revenue decreased by 14.5% compared to the same period last year when it posted an EPS of $0.62. Analysts anticipate that Sarepta Therapeutics will post an EPS of 2.67 for the current fiscal year.

Sarepta Therapeutics, Inc. is a commercial-stage biopharmaceutical company that focuses on developing RNA-targeted therapeutics and gene therapies for rare diseases. Notable products include the EXONDYS 51 injection for Duchenne muscular dystrophy and other therapies addressing specific mutations in the dystrophin gene.

As the company continues to navigate the complexities of the biotechnology sector, its recent financial moves and institutional investments may play a pivotal role in shaping its future trajectory.