Sarepta gains after appointing former AbbVie executive Severino as CEO

** Shares of gene therapy co Sarepta Therapeutics SRPT.O rose 7.1% to $16.8 premarket

** The company appointed Michael Severino as CEO, effective July 28.

** Severino succeeds Doug Ingram, who is retiring and will hold an advisory post till the end of the year for a smooth transition.

** Before joining the company, Severino served as the CEO of Tessera Therapeutics and previously held the positions of Vice Chairman and President at AbbVie ABBV.O.

** As of the last close, the stock had fallen 27.1% year to date.