Replimune Group (NASDAQ:REPL) Stock Price Down 6.7% – Here’s Why

Replimune Group, Inc. (NASDAQ:REPL) fell 6.7% during mid-day trading on Tuesday. The company traded as low as $12.17 and last traded at $12.1890. 655,773 shares changed hands during trading, a decline of 85% from the average daily volume of 4,427,155 shares. The stock had previously closed at $13.07.

Analysts Set New Price Targets

Several analysts have commented on REPL shares. Leerink Partners raised shares of Replimune Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $11.00 to $17.00 in a research note on Tuesday, August 4th. JPMorgan Chase & Co. increased their price target on Replimune Group from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 26th. Piper Sandler upgraded Replimune Group from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Wolfe Research raised Replimune Group to an “outperform” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings downgraded Replimune Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Replimune Group Stock Performance

The company has a market cap of $1.15 billion, a price-to-earnings ratio of -3.89 and a beta of 0.93. The stock’s fifty day simple moving average is $13.88 and its two-hundred day simple moving average is $9.64. The company has a debt-to-equity ratio of 1.00, a quick ratio of 5.23 and a current ratio of 5.23.

Replimune Group (NASDAQ:REPL) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Equities research analysts anticipate that Replimune Group, Inc. will post -2.82 EPS for the current year.

Insider Transactions at Replimune Group

In other Replimune Group news, CAO Andrew Schwendenman sold 7,632 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $12.97, for a total transaction of $98,987.04. Following the completion of the sale, the chief accounting officer owned 99,425 shares of the company’s stock, valued at approximately $1,289,542.25. The trade was a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sushil Patel sold 39,341 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $12.97, for a total value of $510,252.77. Following the sale, the chief executive officer owned 708,151 shares of the company’s stock, valued at $9,184,718.47. This represents a 5.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 79,124 shares of company stock worth $1,038,364 over the last ninety days. 5.40% of the stock is owned by insiders.

Institutional Trading of Replimune Group

A number of institutional investors have recently modified their holdings of the company. Opaleye Management Inc. acquired a new stake in Replimune Group during the 2nd quarter worth approximately $15,332,000. WINTON GROUP Ltd acquired a new position in Replimune Group during the second quarter valued at approximately $115,000. Engineers Gate Manager LP lifted its position in Replimune Group by 15.0% during the second quarter. Engineers Gate Manager LP now owns 172,998 shares of the company’s stock valued at $1,915,000 after buying an additional 22,504 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Replimune Group during the second quarter worth approximately $151,000. Finally, Squarepoint Ops LLC purchased a new stake in Replimune Group during the second quarter worth approximately $1,454,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

About Replimune Group

Replimune Group, Inc is a clinical-stage biotechnology company focused on developing oncolytic immunotherapies for the treatment of cancer. The company’s approach uses genetically engineered viruses designed to selectively replicate in tumors, directly destroy cancer cells and stimulate a broader immune response against malignant tissue.

Replimune’s lead product candidate is RP1, also known as vusolimogene oderparepvec, an engineered oncolytic herpes simplex virus type 1 intended for use in patients with advanced solid tumors.