Replimune Group (NASDAQ:REPL) Trading Down 6.3% – Here’s Why

Replimune Group, Inc. (NASDAQ:REPL)’s share price fell 6.3% during mid-day trading on Monday . The stock traded as low as $10.13 and last traded at $10.4890. 967,727 shares were traded during trading, a decline of 80% from the average daily volume of 4,886,440 shares. The stock had previously closed at $11.20.

Analyst Ratings Changes

REPL has been the topic of a number of recent research reports. Wolfe Research upgraded shares of Replimune Group to an “outperform” rating in a research note on Tuesday. Leerink Partners upgraded shares of Replimune Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $11.00 to $17.00 in a research note on Tuesday. Wall Street Zen raised Replimune Group from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Piper Sandler upgraded Replimune Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. raised Replimune Group from a “neutral” rating to an “overweight” rating and set a $17.00 price objective for the company in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.43.

Replimune Group Trading Up 0.1%

The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $9.77 and a 200 day simple moving average of $7.44. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -3.53 and a beta of 0.88.

Replimune Group (NASDAQ:REPL) last posted its quarterly earnings results on Monday, June 29th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.10). On average, equities analysts anticipate that Replimune Group, Inc. will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Replimune Group news, insider Christopher Sarchi sold 12,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $9.24, for a total value of $110,880.00. Following the completion of the transaction, the insider directly owned 180,962 shares of the company’s stock, valued at approximately $1,672,088.88. This trade represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Replimune Group

Several hedge funds have recently bought and sold shares of the company. Breakwater Capital Group purchased a new stake in Replimune Group during the second quarter worth $220,000. Seven Fleet Capital Management LP purchased a new position in shares of Replimune Group in the first quarter valued at $921,000. Essential Partners LLC raised its stake in shares of Replimune Group by 562,400.0% during the 1st quarter. Essential Partners LLC now owns 5,625 shares of the company’s stock worth $43,000 after buying an additional 5,624 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Replimune Group by 17.7% during the 1st quarter. Bank of America Corp DE now owns 253,449 shares of the company’s stock worth $1,939,000 after buying an additional 38,119 shares during the last quarter. Finally, Readystate Asset Management LP purchased a new stake in shares of Replimune Group in the 1st quarter worth about $1,059,000. 92.53% of the stock is owned by hedge funds and other institutional investors.

About Replimune Group

Replimune Group, Inc is a clinical‐stage biotechnology company focused on developing next‐generation oncolytic immunotherapies for the treatment of solid tumors. The company’s proprietary “RP” platform leverages genetically engineered herpes simplex virus type 1 (HSV-1) vectors armed with immunomodulatory payloads to selectively infect, replicate within and destroy cancer cells, while also stimulating systemic antitumor immune responses.

Replimune’s lead candidate, RP1, incorporates GM-CSF and a fusogenic protein to enhance both direct oncolysis and immune activation.