Investors Buy Large Volume of Call Options on Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) saw some unusual options trading activity on Wednesday. Stock traders acquired 1,796 call options on the company. This represents an increase of 15% compared to the typical volume of 1,556 call options.

Sarepta Therapeutics Trading Up 7.2 %

Sarepta Therapeutics stock traded up $5.31 during trading hours on Wednesday, reaching $78.85. 1,538,318 shares of the company’s stock were exchanged, compared to its average volume of 1,166,327. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The firm’s 50 day simple moving average is $110.18 and its 200 day simple moving average is $119.13. The firm has a market capitalization of $7.65 billion, a PE ratio of 63.27 and a beta of 0.79. Sarepta Therapeutics has a twelve month low of $73.06 and a twelve month high of $173.25.

Wall Street Analyst Weigh In

SRPT has been the subject of several research analyst reports. HC Wainwright restated a “sell” rating and set a $75.00 price objective on shares of Sarepta Therapeutics in a research report on Wednesday. Piper Sandler lowered their price objective on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Royal Bank of Canada lowered their price objective on shares of Sarepta Therapeutics from $165.00 to $161.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Scotiabank initiated coverage on shares of Sarepta Therapeutics in a research report on Friday, March 7th. They set a “sector perform” rating and a $105.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $202.00 price objective on shares of Sarepta Therapeutics in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.55.

Insider Activity

In other news, Director Claude Nicaise sold 2,491 shares of Sarepta Therapeutics stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total value of $248,203.24. Following the completion of the sale, the director now directly owns 27,812 shares in the company, valued at approximately $2,771,187.68. The trade was a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.70% of the stock is owned by company insiders.

Institutional Trading of Sarepta Therapeutics

Several large investors have recently made changes to their positions in SRPT. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Sarepta Therapeutics by 21.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,700 shares of the biotechnology company’s stock valued at $212,000 after buying an additional 300 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Sarepta Therapeutics by 3.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,457 shares of the biotechnology company’s stock worth $557,000 after buying an additional 145 shares in the last quarter. Huntington National Bank lifted its position in shares of Sarepta Therapeutics by 150.9% during the 3rd quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock worth $36,000 after buying an additional 175 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Sarepta Therapeutics by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 2,712 shares of the biotechnology company’s stock worth $339,000 after buying an additional 86 shares in the last quarter. Finally, Commerce Bank increased its stake in shares of Sarepta Therapeutics by 15.7% during the 3rd quarter. Commerce Bank now owns 2,016 shares of the biotechnology company’s stock worth $252,000 after purchasing an additional 274 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

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.