M&T Bank Corp Reduces Stock Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

M&T Bank Corp lowered its stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 19.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,562 shares of the biotechnology company’s stock after selling 862 shares during the period. M&T Bank Corp’s holdings in Sarepta Therapeutics were worth $227,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Sarepta Therapeutics by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 9,085,456 shares of the biotechnology company’s stock worth $1,104,701,000 after buying an additional 117,904 shares in the last quarter. Capital International Investors raised its position in shares of Sarepta Therapeutics by 38.9% in the fourth quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company’s stock worth $1,057,482,000 after buying an additional 2,437,855 shares in the last quarter. Farallon Capital Management LLC raised its position in shares of Sarepta Therapeutics by 11.1% in the fourth quarter. Farallon Capital Management LLC now owns 2,865,100 shares of the biotechnology company’s stock worth $348,368,000 after buying an additional 285,100 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Sarepta Therapeutics by 0.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,956,583 shares of the biotechnology company’s stock worth $237,901,000 after buying an additional 10,343 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Sarepta Therapeutics by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,706,353 shares of the biotechnology company’s stock worth $207,538,000 after buying an additional 9,999 shares in the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SRPT shares. TD Cowen downgraded Sarepta Therapeutics from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research report on Wednesday, June 18th. Royal Bank Of Canada lowered their price target on Sarepta Therapeutics from $25.00 to $23.00 and set a “sector perform” rating on the stock in a research report on Thursday. Piper Sandler downgraded Sarepta Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $70.00 to $36.00 in a research report on Monday, June 16th. Wolfe Research initiated coverage on Sarepta Therapeutics in a research report on Tuesday, June 17th. They set a “peer perform” rating on the stock. Finally, Morgan Stanley restated an “equal weight” rating and set a $40.00 price target (down previously from $113.00) on shares of Sarepta Therapeutics in a research report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.50.

Sarepta Therapeutics Stock Performance

Shares of SRPT opened at $14.07 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.02 and a quick ratio of 2.46. Sarepta Therapeutics, Inc. has a one year low of $12.81 and a one year high of $150.48. The company has a 50-day simple moving average of $28.42 and a two-hundred day simple moving average of $68.34. The firm has a market capitalization of $1.38 billion, a PE ratio of -5.23 and a beta of 0.45.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) EPS for the quarter, missing the consensus estimate of $2.20 by ($5.62). Sarepta Therapeutics had a negative return on equity of 14.88% and a negative net margin of 11.12%. The company had revenue of $744.86 million during the quarter, compared to analysts’ expectations of $685.75 million. During the same quarter last year, the business earned $0.73 earnings per share. The business’s quarterly revenue was up 80.2% on a year-over-year basis. On average, analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current fiscal year.

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.