Traders Buy High Volume of Sarepta Therapeutics Put Options (SRPT)

Sarepta Therapeutics Inc (NASDAQ:SRPT) was the target of some unusual options trading on Friday. Investors purchased 22,555 put options on the stock. This represents an increase of approximately 2,651% compared to the typical volume of 820 put options.

In other news, Director Hans Lennart Rudolf Wigzell sold 6,667 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $55.89, for a total transaction of $372,618.63. Following the sale, the director now owns 13,333 shares of the company’s stock, valued at approximately $745,181.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas S. Ingram bought 38,138 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were acquired at an average cost of $52.44 per share, for a total transaction of $1,999,956.72. Following the transaction, the chief executive officer now directly owns 420,196 shares in the company, valued at approximately $22,035,078.24. The disclosure for this purchase can be found here. Company insiders own 9.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its holdings in shares of Sarepta Therapeutics by 6.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 271 shares during the period. Cubist Systematic Strategies LLC increased its holdings in shares of Sarepta Therapeutics by 116.4% in the second quarter. Cubist Systematic Strategies LLC now owns 4,600 shares of the biotechnology company’s stock valued at $155,000 after purchasing an additional 2,474 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Sarepta Therapeutics by 140.9% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,262 shares of the biotechnology company’s stock valued at $193,000 after purchasing an additional 2,493 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Sarepta Therapeutics in the third quarter valued at approximately $204,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Sarepta Therapeutics in the second quarter valued at approximately $206,000. 82.02% of the stock is currently owned by institutional investors and hedge funds.

Sarepta Therapeutics (SRPT) opened at $61.52 on Monday. The stock has a market capitalization of $3,980.00, a P/E ratio of -30.16 and a beta of 1.37. The company has a quick ratio of 9.52, a current ratio of 10.44 and a debt-to-equity ratio of 0.04. Sarepta Therapeutics has a twelve month low of $26.26 and a twelve month high of $61.89.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, October 25th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.86) by $0.66. The business had revenue of $45.95 million for the quarter, compared to analyst estimates of $41.29 million. Sarepta Therapeutics had a negative return on equity of 51.72% and a negative net margin of 112.08%. During the same quarter in the previous year, the company posted ($0.95) earnings per share. sell-side analysts forecast that Sarepta Therapeutics will post -3.07 EPS for the current year.

Several equities research analysts have recently weighed in on the company. Leerink Swann reissued an “outperform” rating and set a $66.00 target price on shares of Sarepta Therapeutics in a research report on Saturday, September 30th. Instinet reissued a “buy” rating and set a $84.00 target price on shares of Sarepta Therapeutics in a research report on Monday, October 2nd. BidaskClub raised Sarepta Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. reissued a “hold” rating on shares of Sarepta Therapeutics in a research report on Monday, September 25th. Finally, Janney Montgomery Scott assumed coverage on Sarepta Therapeutics in a research report on Wednesday, January 3rd. They set a “buy” rating and a $75.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and eighteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $63.88.

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Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).

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