Replimune Group (NASDAQ:REPL) Shares Down 6.9% – Here’s What Happened

Replimune Group, Inc. (NASDAQ:REPL)’s stock price fell 6.9% during trading on Thursday . The company traded as low as $13.43 and last traded at $13.4570. Approximately 1,392,628 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 4,724,739 shares. The stock had previously closed at $14.45.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on REPL. Cantor Fitzgerald reiterated an “overweight” rating on shares of Replimune Group in a research report on Wednesday, August 12th. Wolfe Research upgraded shares of Replimune Group to an “outperform” rating in a report on Tuesday, August 4th. Leerink Partners upgraded Replimune Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $11.00 to $17.00 in a report on Tuesday, August 4th. Piper Sandler raised Replimune Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings lowered Replimune Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Replimune Group presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Replimune Group Price Performance

The stock has a market capitalization of $1.26 billion, a P/E ratio of -4.25 and a beta of 0.94. The company has a debt-to-equity ratio of 1.00, a quick ratio of 5.23 and a current ratio of 5.23. The business has a fifty day simple moving average of $12.47 and a 200-day simple moving average of $8.75.

Replimune Group (NASDAQ:REPL) last released its earnings results on Friday, August 14th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). Sell-side analysts expect that Replimune Group, Inc. will post -2.81 earnings per share for the current fiscal year.

Insider Activity at Replimune Group

In other news, CFO Emily Hill sold 9,256 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $14.28, for a total transaction of $132,175.68. Following the transaction, the chief financial officer owned 215,852 shares in the company, valued at approximately $3,082,366.56. This represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Andrew Schwendenman sold 7,632 shares of the 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 transaction, the chief accounting officer directly owned 99,425 shares in the company, valued at $1,289,542.25. This trade represents a 7.13% decrease in their position. 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. In the last ninety days, insiders sold 79,124 shares of company stock valued at $1,038,364. 5.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Replimune Group by 17.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,352 shares of the company’s stock valued at $435,000 after acquiring an additional 6,653 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Replimune Group by 2.8% in the 1st quarter. Millennium Management LLC now owns 1,223,236 shares of the company’s stock worth $11,927,000 after purchasing an additional 33,574 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Replimune Group by 20.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 690,167 shares of the company’s stock valued at $6,729,000 after purchasing an additional 119,145 shares during the period. Rhumbline Advisers grew its position in Replimune Group by 6.9% in the 2nd quarter. Rhumbline Advisers now owns 102,005 shares of the company’s stock valued at $948,000 after purchasing an additional 6,616 shares during the period. Finally, Sei Investments Co. increased its stake in Replimune Group by 149.5% during the 2nd quarter. Sei Investments Co. now owns 30,478 shares of the company’s stock valued at $283,000 after purchasing an additional 18,263 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

Replimune Group Company Profile

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.