Orlando, FL -- (SBWIRE) -- 10/10/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On CytRx Corporation (NASDAQ:CYTR), Sarepta Therapeutics Inc (NASDAQ:SRPT).
CytRx Corporation (NASDAQ:CYTR) shares declined 18.61% to $2.23. The company on Oct. 8 announced the pricing of its previously announced underwritten public offering. CytRx is offering 10.0 million shares of common stock at a public offering price of $2.25 per share for gross proceeds of $22.5 million, prior to deducting the underwriting discount and estimated offering expenses payable by CytRx. The company intends to use the net proceeds of the offering to fund its clinical trials of its drug candidate aldoxorubicin and for general corporate purposes.
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Sarepta Therapeutics Inc (NASDAQ:SRPT) shares declined 11.25% to $44.42. Deutsche Bank restated their fair value rating on shares of SRPT in a report released on Oct. 9. Deutsche Bank currently has a $213.00 price objective on the stock. Separately, Deutsche Bank upgraded shares of Sarepta Therapeutic from a hold rating to a buy rating in a report released on Sept. 24. Deutsche Bank currently has $71.00 price objective on the stock, up from their previous price objective of $45.00.
Additionally, SRPT’s Director M Kathleen Behrens purchased 6,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were purchased at an average price of $37.04 per share, for a total transaction of $240,760.00. Following the completion of the transaction, the director now directly owns 44,166 shares in the company
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