Repare Therapeutics (NASDAQ:RPTX) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Repare Therapeutics (NASDAQ:RPTX) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Repare Therapeutics Inc. is an oncology company. It utilizes genome-wide, CRISPR-enabled SNIPRx(R) platform to discover and develop targeted cancer therapies focused on genomic instability, including DNA damage repair. The Company’s product pipeline includes RP-3500, which is in clinical stage. Repare Therapeutics Inc. is based in St-Laurent, Canada. “

Several other research firms also recently weighed in on RPTX. Bloom Burton assumed coverage on Repare Therapeutics in a research report on Thursday, September 30th. They issued a buy rating and a $49.00 target price for the company. Stifel Nicolaus assumed coverage on Repare Therapeutics in a research report on Wednesday, September 22nd. They issued a buy rating and a $48.00 target price for the company. Guggenheim started coverage on Repare Therapeutics in a research report on Monday, June 28th. They issued a buy rating and a $46.00 target price for the company. Morgan Stanley boosted their price objective on Repare Therapeutics from $45.00 to $47.00 and gave the stock an overweight rating in a research report on Monday, August 16th. Finally, HC Wainwright started coverage on Repare Therapeutics in a research report on Monday, September 13th. They set a buy rating and a $54.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Repare Therapeutics presently has a consensus rating of Buy and a consensus price target of $47.57.

Shares of RPTX opened at $20.01 on Wednesday. The firm has a market cap of $742.71 million, a P/E ratio of -9.67 and a beta of -0.35. Repare Therapeutics has a 12-month low of $19.01 and a 12-month high of $46.44. The company’s 50-day moving average price is $30.37 and its 200 day moving average price is $31.83.

Repare Therapeutics (NASDAQ:RPTX) last issued its quarterly earnings data on Thursday, August 12th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.10). The company had revenue of $0.28 million for the quarter. As a group, research analysts anticipate that Repare Therapeutics will post -2.6 earnings per share for the current year.

In other Repare Therapeutics news, Director David P. Bonita sold 887 shares of the business’s stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $33.93, for a total value of $30,095.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Orbimed Advisors Llc sold 17,398 shares of the business’s stock in a transaction that occurred on Tuesday, August 17th. The shares were sold at an average price of $34.12, for a total value of $593,619.76. The disclosure for this sale can be found here. Insiders sold 66,416 shares of company stock valued at $2,261,782 over the last ninety days. 33.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley raised its stake in shares of Repare Therapeutics by 112.0% during the second quarter. Morgan Stanley now owns 132,728 shares of the company’s stock worth $4,138,000 after purchasing an additional 70,112 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Repare Therapeutics during the second quarter worth approximately $704,000. Price T Rowe Associates Inc. MD raised its stake in shares of Repare Therapeutics by 2,044.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,176,004 shares of the company’s stock worth $36,668,000 after purchasing an additional 1,121,157 shares during the last quarter. Great Point Partners LLC purchased a new stake in shares of Repare Therapeutics during the second quarter worth approximately $13,597,000. Finally, State Street Corp purchased a new stake in shares of Repare Therapeutics during the second quarter worth approximately $470,000. Institutional investors and hedge funds own 71.52% of the company’s stock.

Repare Therapeutics Company Profile

Repare Therapeutics Inc, a precision oncology company, discovers and develops novel therapeutics by using its synthetic lethality approach in Canada and the United States. The company uses its SNIPRx, a proprietary, genome-wide, and CRISPR-enabled platform to systematically discover and develop highly targeted cancer therapies focused on genomic instability, including DNA damage repair.

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