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Sarepta Therapeutics Inc (SRPT) Soaring as FDA Postpones Eteplirsen Review, Raising Hopes of an Approval

As one would reasonably expect, specific money managers have been driving the bullishness in Sarepta. Tourbillon Capital Partners, managed by Jason Karp, established the most outsized position in Sarepta Therapeutics Inc (NASDAQ:SRPT) during Q1. Tourbillon Capital Partners had $15.7 million invested in the company at the end of the quarter. Hal Mintz’s Sabby Capital also initiated a $9.9 million position during the quarter. The following funds were also among the new SRPT investors: Kevin C. Tang’s Tang Capital Management, Wilmot B. Harkey and Daniel Mack’s Nantahala Capital Management, and Kenneth Mario Garschina’s Mason Capital Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Sarepta Therapeutics Inc (NASDAQ:SRPT) but similarly valued. These stocks are Infinity Property and Casualty Corp. (NASDAQ:IPCC), NuStar GP Holdings, LLC (NYSE:NSH), Calumet Specialty Products Partners, L.P (NASDAQ:CLMT), and Sun Hydraulics Corporation (NASDAQ:SNHY). All of these stocks’ market caps are similar to SRPT’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
IPCC 8 43103 -1
NSH 7 9294 4
CLMT 4 8854 -1
SNHY 8 101627 -2

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $41 million. That figure was $297 million in SRPT’s case. Infinity Property and Casualty Corp. (NASDAQ:IPCC) is the most popular stock in this table. On the other hand Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Sarepta Therapeutics Inc (NASDAQ:SRPT) is more popular among hedge funds and has far more money invested in it. Considering that hedge funds are very fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None

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