5 Stocks Cathie Wood is Selling

In this article, we discuss Tesla and the 4 other stocks that Cathie Wood is selling. If you want to read our detailed analysis of these stocks, go directly to Cathie Wood is Selling Tesla and 9 Other Stocks.

5. Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Number of Hedge Fund Holders: 34  

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is a commercial-stage biotech firm. It focuses on the development of therapies for the treatment of rare diseases. The firm recently boosted revenue guidance for 2021 by $40 million on the potential sales of muscular dystrophy medications. It also beat market estimates on earnings per share and revenue for the third quarter by $1.37 and $10.4 million respectively. 

JPMorgan analyst Anupam Rama recently upgraded Sarepta Therapeutics, Inc. (NASDAQ:SRPT) stock to Overweight from Neutral and raised the price target to $130 from $88, highlighting the potential of pipeline drugs of the firm. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm VenBio Select Advisor is a leading shareholder in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) with 2.4 million shares worth more than $186 million. 

In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Sarepta Therapeutics, Inc. (NASDAQ:SRPT) was one of them. Here is what the fund said:

“We ended our campaign in Sarepta Therapeutics. Sarepta Therapeutics is a leader in Duchenne muscular dystrophy (DMD) drug development. Shares were pressured during the quarter amid a disappointing clinical trial outcome for its DMD gene therapy. We believe the odds of FDA approval for this therapy are lower and the timeline longer. Fortunately, we controlled for this risk by keeping this holding in the GardenSM. While Sarepta’s pipeline of gene therapies for neuromuscular disorders remains attractive, we exited our position given this setback. We believe CropSM holding Catalent is a better risk-adjusted way to participate in these opportunities. Catalent is a leader in gene therapy manufacturing and one of Sarepta’s key partners.”