Short Interest in Repare Therapeutics Inc. (NASDAQ:RPTX) Expands By 53.3%

Repare Therapeutics Inc. (NASDAQ:RPTX) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 1,300,000 shares, an increase of 53.3% from the December 15th total of 847,800 shares. Based on an average trading volume of 380,100 shares, the days-to-cover ratio is currently 3.4 days. Currently, 4.3% of the company’s shares are short sold.

Hedge Funds Weigh In On Repare Therapeutics

Hedge funds have recently modified their holdings of the stock. Blue Owl Capital Holdings LP grew its stake in Repare Therapeutics by 8.0% in the second quarter. Blue Owl Capital Holdings LP now owns 3,372,499 shares of the company’s stock valued at $11,129,000 after purchasing an additional 250,000 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Repare Therapeutics by 30.7% during the 2nd quarter. Renaissance Technologies LLC now owns 458,700 shares of the company’s stock valued at $1,514,000 after buying an additional 107,700 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Repare Therapeutics by 428.4% during the 2nd quarter. Squarepoint Ops LLC now owns 142,974 shares of the company’s stock valued at $472,000 after buying an additional 115,916 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Repare Therapeutics by 5.4% in the 2nd quarter. Bank of Montreal Can now owns 110,935 shares of the company’s stock valued at $366,000 after buying an additional 5,673 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Repare Therapeutics in the second quarter worth approximately $273,000. 85.09% of the stock is owned by institutional investors and hedge funds.

Repare Therapeutics Price Performance

RPTX stock remained flat at $1.28 during midday trading on Friday. 189,282 shares of the company’s stock were exchanged, compared to its average volume of 500,189. The company’s 50-day moving average price is $2.28 and its 200 day moving average price is $2.97. The stock has a market capitalization of $54.41 million, a P/E ratio of -0.64 and a beta of 0.88. Repare Therapeutics has a 12 month low of $1.20 and a 12 month high of $8.49.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Repare Therapeutics in a research note on Friday, November 8th. Stifel Nicolaus lowered their price target on Repare Therapeutics from $9.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Lifesci Capital reissued a “market perform” rating on shares of Repare Therapeutics in a research note on Friday, December 13th. Finally, Bloom Burton lowered Repare Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th.

About Repare Therapeutics

Repare Therapeutics Inc, a clinical-stage precision oncology company, engages in the discovery and development of therapeutics by using its synthetic lethality approach in Canada and the United States. It uses its SNIPRx, a proprietary, genome-wide, and CRISPR-enabled platform, to discover, validate, and build a pipeline of SL-based therapeutics that focuses on genomic instability, including DNA damage repair.