Stock Traders Purchase Large Volume of Sarepta Therapeutics Put Options (NASDAQ:SRPT)

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) was the recipient of some unusual options trading activity on Thursday. Investors purchased 6,583 put options on the company. This is an increase of approximately 246% compared to the average volume of 1,901 put options.

Sarepta Therapeutics Stock Down 7.1 %

NASDAQ:SRPT opened at $54.43 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03. Sarepta Therapeutics has a 1-year low of $54.26 and a 1-year high of $173.25. The company has a 50-day moving average of $96.95 and a 200 day moving average of $113.78. The firm has a market cap of $5.28 billion, a PE ratio of 43.54 and a beta of 0.79.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SRPT. Deutsche Bank Aktiengesellschaft cut their price objective on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating for the company in a research note on Wednesday, March 19th. Royal Bank of Canada downgraded Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $161.00 to $87.00 in a research note on Monday, March 31st. Scotiabank reduced their price objective on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 20th. HC Wainwright upgraded shares of Sarepta Therapeutics from a “sell” rating to a “neutral” rating and set a $75.00 target price for the company in a research report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $163.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.18.

Insider Activity

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value 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. This represents a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Several hedge funds have recently modified their holdings of SRPT. Manchester Capital Management LLC lifted its holdings in 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 buying an additional 110 shares during the period. MassMutual Private Wealth & Trust FSB grew 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 valued at $30,000 after purchasing an additional 156 shares during the last quarter. Sunbelt Securities Inc. raised 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 worth $35,000 after purchasing an additional 232 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Sarepta Therapeutics during the fourth quarter valued at about $36,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Sarepta Therapeutics by 164.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 194 shares in the last quarter. 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.