Updated: June 7, 2022: San Francisco-based investment firm Bvf Partners L.P., which holds more than a 10% stake in biotechnology company Repare Therapeutics, Inc. (NASDAQ: RPTX), has bought Repare’s shares worth almost $22 million. Shares of the company closed 7.4% up on Monday.
Last month, Bvf Partners made an informative buy of $3.57 million worth of RPTX stock.
Biotechnology is one of the industries that has gained the most from the COVID-19 pandemic. The companies that have been successful in developing a vaccine for the virus are making a fortune. Further, a rise in the number of people suffering from chronic diseases like cancer and diabetes has helped boost the industry’s growth.
Those looking for long-term returns could consider investing in the biotechnology industry, which is also witnessing increased adoption in clinical research.
So, how will investors choose which biotechnology stocks are the best fit for their portfolio? To help investors make their investment decision-making seamless, TipRanks brings to you its Insiders’ Hot Stocks tool, which offers a list of stocks that have seen insider trading activity recently.
By using this tool, today, we bring to you two stocks — Repare Therapeutics, Inc. (NASDAQ: RPTX) and Kymera Therapeutics, Inc. (NASDAQ: KYMR) — from the biotechnology industry that mirror Positive or Very Positive insider confidence.
Now, let’s get to know about these companies in detail.
Repare Therapeutics
Based out of Canada, Repare Therapeutics is engaged in the discovery and development of cancer therapies through the use of its SNIPRx platform.
At the beginning of this month, RPTX posted better-than-expected results for the first quarter of 2022. The company reported a loss of $0.83 per share, narrower than the Street’s loss estimate of $0.86 per share but wider than the year-ago loss of $0.58 per share.
Based on five Buys and one Hold, the stock has a Strong Buy consensus rating. RPTX’s average price target of $33.83 implies 277.6% upside potential from current levels. Shares have lost 71.5% over the past year.
TipRanks’ Insider Trading Activity tool shows that Insider Confidence Signal is currently Positive for Repare Therapeutics. Further, corporate insiders have bought $7.1 million worth of the company’s shares in the last three months.
Kymera Therapeutics
A clinical-stage biopharmaceutical company, Kymera Therapeutics is working on developing novel protein degrader therapeutics to treat diseases by using the body’s natural protein degradation system. The company is based in Massachusetts.
In the first week of May, it posted worse-than-expected results for the first quarter of 2022. The company reported a loss of $0.71 per share, compared with the Street’s estimate of $0.67 per share and a loss of $0.29 per share in the previous year.
Based on seven Buys and two Holds, the stock has a Strong Buy consensus rating. KYMR’s average price target of $58.33 implies 311.4% upside potential from current levels. Shares have lost 69.2% over the past year.
TipRanks’ Insider Trading Activity tool shows that Insider Confidence Signal is currently Very Positive for Kymera Therapeutics. Corporate insiders have bought $5.1 million worth of the company’s shares in the last three months.
Conclusion
Apart from the aforementioned factors, improving healthcare services across the world and rising investment in research and development are paving the way for the industry’s growth. A report by Precedence Research expects the industry to grow at a CAGR of 8.7% to reach $ 1,683.52 billion by 2030 from $793.87 billion in 2021.
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