Repare Therapeutics Inc. (NASDAQ:RPTX) announced that its Executive Vice President and Chief Financial Officer, Steve Forte, has recently sold a total of 2,475 company common shares, resulting in proceeds exceeding $11,000. The transactions occurred over a series of days, with share prices ranging between $4.6 and $4.79.
The sales took place on March 25, 26, and 27, with each day seeing a consistent number of 825 shares being sold. On the first day, shares were sold at an average price of $4.79, while on the subsequent days, the shares were sold at slightly lower average prices of $4.6 and $4.62 respectively. The reported prices represent weighted averages, indicating that the shares were sold in multiple transactions at various prices within the mentioned ranges.
These transactions are part of a prearranged trading plan under Rule 10b5-1, which allows insiders of publicly traded corporations to set up a trading plan for selling stocks they own. This plan was adopted by Forte on December 22, 2023. It is important to note that the sales were conducted to satisfy tax withholding obligations related to the vesting of restricted stock units (RSUs) granted to Forte earlier. Specifically, these RSUs vested on January 30, 2024, as part of an award reported earlier in February.
Following the sale, Forte's ownership in Repare Therapeutics stands at 42,212 common shares. The company, which specializes in pharmaceutical preparations, has not made any additional comments regarding these transactions.
Investors and followers of Repare Therapeutics can obtain full details of the sales, including the number of shares sold at each separate price within the provided ranges, upon request to the company or the Securities and Exchange Commission.
InvestingPro Insights
As Repare Therapeutics Inc. (NASDAQ:RPTX) navigates through a period marked by insider sales, investors may seek deeper insights into the company's financial health and market position. According to InvestingPro, RPTX holds more cash than debt on its balance sheet, providing a cushion that may be reassuring for stakeholders concerned about the company's liquidity. Moreover, two analysts have revised their earnings upwards for the upcoming period, suggesting potential optimism regarding Repare Therapeutics' future performance.
From a market perspective, RPTX's stock price has experienced significant volatility, as indicated by a one-week price total return of -11.39% and a six-month price total return of -63.14%. The current market capitalization stands at 196.99M USD, reflecting the company's valuation in the market. Despite the recent stock price decline, the InvestingPro Fair Value estimate is 7.37 USD, which exceeds the previous close price of 4.53 USD, potentially indicating an undervaluation based on certain financial metrics.
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