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In a recent transaction, Michael Zinda, the Executive Vice President and Chief Scientific Officer at Repare Therapeutics Inc . (NASDAQ:RPTX), sold 5,611 common shares of the company. The transaction comes as the stock trades near its 52-week low of $1.06, having declined about 78% over the past year. The shares were sold at a price of $1.14 each, totaling $6,396. This sale was conducted to satisfy tax withholding obligations related to the vesting and settlement of restricted stock units, as noted in the company’s SEC filing. Following this transaction, Zinda holds 80,297 shares directly. Despite recent market pressure, InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 6.77 and holds more cash than debt on its balance sheet. For deeper insights into insider trading patterns and additional financial metrics, investors can access more than 10 exclusive ProTips on InvestingPro.
In other recent news, Repare Therapeutics has reported a diluted net loss of $2.00 per share for the year 2024, aligning with H.C. Wainwright’s previous forecast. The company’s expenses for research and development and selling, general, and administrative activities were slightly below expectations, totaling $115.9 million and $29.7 million, respectively. Repare anticipates key trial results by late 2025, focusing on three Phase 1 trials, including the POLAR trial for the RP-3467 inhibitor and the LIONS trial for the RP-1664 inhibitor. To support these initiatives, the company has reduced its workforce by approximately 75% and holds $152.8 million in cash and equivalents, projected to fund operations into late 2027.
H.C. Wainwright has adjusted its price target for Repare Therapeutics to $5.00 from $10.00, while maintaining a Buy rating, reflecting updated financial projections. Similarly, Stifel has lowered its price target to $3.00 from $4.00, also maintaining a Buy rating, highlighting optimism for RP-3467 in combination with olaparib. However, Bloom Burton & Co. has downgraded Repare’s stock rating to Hold from Buy, citing the absence of human data for the company’s drugs RP-3476 and RP-1664. This downgrade reflects the need for more clarity on the potential of Repare’s early-stage assets. These developments indicate a period of strategic refocusing for Repare Therapeutics amid a challenging economic landscape.
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