Sarepta (SRPT) Sees Early Weakness, At-the-Market Offering In Focus
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Shares of recent momentum stock Sarepta Therapeutics, Inc. (Nasdaq: SRPT) are lower early Friday and traders believe this could be related to the recently announced $40 million at-the-market equity offering, with shares likely hitting the market today.
SRPT is down 7.2 percent in early action, but still up 230 over the past few months on promise for its Duchenne Muscular Dystrophy treatment.
Some traders say getting the stock sales over with now could actually have a silver lining, as it could: 1. flush the company with cash to get the drug to market, 2. remove an overhang.
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SRPT is down 7.2 percent in early action, but still up 230 over the past few months on promise for its Duchenne Muscular Dystrophy treatment.
Some traders say getting the stock sales over with now could actually have a silver lining, as it could: 1. flush the company with cash to get the drug to market, 2. remove an overhang.
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