Sarepta Therapeutics (SRPT) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 16,978,871 to 16,204,551 shares, with 8 days to go before the expiry. The short open interest has decreased by -4.6%, amounting to a reduction of -774,320 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 36.5% of the float of the company. The average daily volume of the stock is 2,127,047 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Sarepta Therapeutics (NASDAQ:SRPT): The stock opened at $26.35 on Wednesday but the bulls could not build on the opening and the stock topped out at $28.80 for the day. The stock traded down to $26.01 during the day, due to lack of any buying support eventually closed down at $26.19 with a loss of -0.19% for the day. The stock had closed at $26.24 on the previous day. The total traded volume was 4,195,871 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Sarepta Therapeutics, Inc., Behrens M Kathleen, had purchased 75,000 shares in a transaction dated on March 14, 2016. The transaction was executed at $15.54 per share with total amount equaling $1,165,500.
Sarepta Therapeutics, Inc. is a biopharmaceutical company. The Company is focused on the discovery and development of unique ribonucleic acid (RNA-targeted therapeutics for the treatment of rare, infectious and other diseases. The Company is primarily focused on advancing the development of its potentially disease-modifying Duchenne Muscular Dystrophy (DMD) drug candidates, including its lead DMD product candidate, eteplirsen, which is an antisense PMO therapeutic in Phase III clinical development for the treatment of individuals with DMD who have an error in the gene coding for dystrophin that is amenable to skipping exon 51. The Company is also developing therapeutics using its technology for the treatment of drug-resistant bacteria and infectious, rare and other human diseases.