Why Sarepta Therapeutics Shares Dropped More Than 16% This Week

Shares in Sarepeta Therapeutics (NASDAQ: SRPT) fell more than 16% this week, according to data from S&P Global Market Intelligence. The stock closed last Friday at $448.68 then fell to as low as $376.26 on Wednesday, a day after the company reported earnings. Even after climbing a bit on Thursday (when the stock closed at $86.97 per share), the stock is a lot closer to its 52-week low of $65.30 than its high of $181.83. For the year, the stock is down more than 48%.

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Sarepta is a commercial-stage biopharmaceutical that specializes in targeted, gene-editing solutions to treat rare diseases, particularly Duchenne muscular dystrophy (DMD) and limb-girdle muscular dystrophies (LGMDs).

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Source Fool.com