Sarepta Therapeutics Inc (NASDAQ:SRPT) investors should pay attention to an increase in hedge fund sentiment recently.
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Now, it’s important to take a peek at the latest action regarding Sarepta Therapeutics Inc (NASDAQ:SRPT).
What does the smart money think about Sarepta Therapeutics Inc (NASDAQ:SRPT)?
At year’s end, a total of 16 of the hedge funds we track were long in this stock, a change of 60% from one quarter earlier. With hedge funds’ sentiment swirling, there exists a few key hedge fund managers who were increasing their holdings substantially.
According to our comprehensive database, Perceptive Advisors, managed by Joseph Edelman, holds the largest position in Sarepta Therapeutics Inc (NASDAQ:SRPT). Perceptive Advisors has a $33 million position in the stock, comprising 5.9% of its 13F portfolio. Sitting at the No. 2 spot is James E. Flynn of Deerfield Management, with a $19 million position; 1.1% of its 13F portfolio is allocated to the stock. Remaining peers that are bullish include Steven Cohen’s SAC Capital Advisors, Phill Gross and Robert Atchinson’s Adage Capital Management and Joseph Edelman’s Perceptive Advisors.
As aggregate interest increased, key hedge funds have jumped into Sarepta Therapeutics Inc (NASDAQ:SRPT) headfirst. Deerfield Management, managed by James E. Flynn, created the most valuable position in Sarepta Therapeutics Inc (NASDAQ:SRPT). Deerfield Management had 19 million invested in the company at the end of the quarter. Phill Gross and Robert Atchinson’s Adage Capital Management also initiated a $10 million position during the quarter. The other funds with brand new SRPT positions are Joseph Edelman’s Perceptive Advisors, Jacob Gottlieb’s Visium Asset Management, and Christopher Medlock James’s Partner Fund Management.
How have insiders been trading Sarepta Therapeutics Inc (NASDAQ:SRPT)?
Bullish insider trading is best served when the primary stock in question has experienced transactions within the past 180 days. Over the latest half-year time frame, Sarepta Therapeutics Inc (NASDAQ:SRPT) has seen zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Sarepta Therapeutics Inc (NASDAQ:SRPT). These stocks are Acorda Therapeutics Inc (NASDAQ:ACOR), Nektar Therapeutics (NASDAQ:NKTR), VIVUS, Inc. (NASDAQ:VVUS), Santarus, Inc. (NASDAQ:SNTS), and Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX). This group of stocks are the members of the biotechnology industry and their market caps resemble SRPT’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Acorda Therapeutics Inc (NASDAQ:ACOR) | 10 | 0 | 7 |
| Nektar Therapeutics (NASDAQ:NKTR) | 9 | 0 | 1 |
| VIVUS, Inc. (NASDAQ:VVUS) | 19 | 0 | 0 |
| Santarus, Inc. (NASDAQ:SNTS) | 16 | 1 | 12 |
| Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) | 7 | 2 | 0 |
With the returns shown by Insider Monkey’s research, everyday investors should always keep an eye on hedge fund and insider trading activity, and Sarepta Therapeutics Inc (NASDAQ:SRPT) applies perfectly to this mantra.
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