Replimune Group (NASDAQ:REPL) Stock Price Down 6.7% Following Insider Selling

Replimune Group, Inc. (NASDAQ:REPL) dropped 6.7% on Tuesday following insider selling activity. The company traded as low as $8.04 and last traded at $7.9650. Approximately 678,276 shares changed hands during trading, a decline of 54% from the average daily volume of 1,477,915 shares. The stock had previously closed at $8.54.

Specifically, insider Christopher Sarchi sold 6,500 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $8.01, for a total value of $52,065.00. Following the transaction, the insider directly owned 151,588 shares in the company, valued at $1,214,219.88. This trade represents a 4.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

Several research firms have weighed in on REPL. Piper Sandler lifted their target price on Replimune Group from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Replimune Group in a report on Monday, December 29th. Finally, Wedbush lifted their target price on Replimune Group from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.00.

Replimune Group Trading Down 6.2%

The company has a fifty day simple moving average of $7.61 and a two-hundred day simple moving average of $7.89. The company has a quick ratio of 5.60, a current ratio of 5.60 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $661.72 million, a P/E ratio of -2.33 and a beta of 0.74.

Replimune Group (NASDAQ:REPL) last released its quarterly earnings results on Tuesday, February 3rd. The company reported ($0.77) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.08. On average, sell-side analysts expect that Replimune Group, Inc. will post -2.97 earnings per share for the current year.

Institutional Trading of Replimune Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. RTW Investments LP raised its stake in shares of Replimune Group by 11.6% in the 4th quarter. RTW Investments LP now owns 7,140,352 shares of the company’s stock valued at $69,404,000 after purchasing an additional 744,620 shares during the period. Fcpm Iii Services B.V. raised its stake in shares of Replimune Group by 6.4% in the 3rd quarter. Fcpm Iii Services B.V. now owns 4,158,368 shares of the company’s stock valued at $17,424,000 after purchasing an additional 248,672 shares during the period. State Street Corp raised its stake in shares of Replimune Group by 26.3% in the 4th quarter. State Street Corp now owns 3,693,107 shares of the company’s stock valued at $35,897,000 after purchasing an additional 768,982 shares during the period. Vanguard Group Inc. raised its stake in shares of Replimune Group by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,479,395 shares of the company’s stock valued at $14,579,000 after purchasing an additional 9,707 shares during the period. Finally, Braidwell LP raised its stake in shares of Replimune Group by 550.3% in the 3rd quarter. Braidwell LP now owns 2,750,092 shares of the company’s stock valued at $11,523,000 after purchasing an additional 2,327,205 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.

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.