Replimune Group (NASDAQ:REPL) Stock Price Down 5.3% – Here’s What Happened

Replimune Group, Inc. (NASDAQ:REPL)’s share price traded down 5.3% during trading on Thursday . The stock traded as low as $15.12 and last traded at $15.14. 763,180 shares changed hands during trading, a decline of 84% from the average session volume of 4,804,738 shares. The stock had previously closed at $15.98.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler raised shares of Replimune Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of Replimune Group in a research report on Wednesday, August 12th. JPMorgan Chase & Co. boosted their price objective on shares of Replimune Group from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 26th. Wolfe Research upgraded shares of Replimune Group to an “outperform” rating in a report on Tuesday, August 4th. Finally, Leerink Partners raised shares of Replimune Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $11.00 to $17.00 in a research note on Tuesday, August 4th. One equities 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 stock. According to data from MarketBeat, Replimune Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Replimune Group Trading Down 5.4%

The firm’s 50 day moving average price is $12.10 and its 200-day moving average price is $8.51. The company has a debt-to-equity ratio of 1.00, a current ratio of 5.23 and a quick ratio of 5.23. The stock has a market cap of $1.42 billion, a P/E ratio of -4.80 and a beta of 0.94.

Replimune Group (NASDAQ:REPL) last posted its earnings results on Friday, August 14th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). As a group, equities research analysts forecast that Replimune Group, Inc. will post -2.81 earnings per share for the current year.

Insider Activity at Replimune Group

In other news, CAO Andrew Schwendenman sold 7,632 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $12.97, for a total transaction of $98,987.04. Following the completion of the transaction, the chief accounting officer directly owned 99,425 shares of the company’s stock, valued at $1,289,542.25. The trade was a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Emily Luisa Hill sold 11,448 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $12.97, for a total transaction of $148,480.56. Following the sale, the chief financial officer owned 225,108 shares of the company’s stock, valued at approximately $2,919,650.76. This represents a 4.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 quarter. 5.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of REPL. California State Teachers Retirement System boosted its position in Replimune Group by 185.3% in the second quarter. California State Teachers Retirement System now owns 11,114 shares of the company’s stock worth $123,000 after purchasing an additional 7,218 shares during the last quarter. Readystate Asset Management LP grew its stake in shares of Replimune Group by 116.6% during the 2nd quarter. Readystate Asset Management LP now owns 299,958 shares of the company’s stock valued at $3,321,000 after purchasing an additional 161,470 shares during the period. Syon Capital LLC purchased a new stake in shares of Replimune Group during the 2nd quarter valued at about $247,000. AXQ Capital LP increased its position in shares of Replimune Group by 4.1% during the 2nd quarter. AXQ Capital LP now owns 27,121 shares of the company’s stock valued at $300,000 after purchasing an additional 1,056 shares during the last quarter. Finally, Montanova Capital LLC lifted its stake in shares of Replimune Group by 4.0% in the 2nd quarter. Montanova Capital LLC now owns 4,389,836 shares of the company’s stock worth $48,595,000 after purchasing an additional 168,000 shares during the period. 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 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.