Replimune Group (NASDAQ:REPL) Shares Down 6.9% - Here's Why

Key Points

• Replimune shares fell 6.9% to about $13.46 on Thursday, with trading volume roughly 71% below the average daily level.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating; however, the average price target is $12.00, below the current share price. Recent actions included upgrades from Wolfe Research, Wedbush and Piper Sandler, while JPMorgan raised its target to $21.
• The company reported a quarterly loss of $0.72 per share, missing estimates by $0.03, and analysts expect a full-year loss of $2.81 per share. Insiders have sold $1.04 million of stock over the past three months, primarily to cover tax obligations tied to equity awards.

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

Analysts Set New Price Targets

REPL has been the topic of several research reports. Weiss Ratings downgraded shares of Replimune Group from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, August 11th. Wolfe Research upgraded shares of Replimune Group to an "outperform" rating in a research note on Tuesday, August 4th. Wedbush raised shares of Replimune Group from a "neutral" rating to an "outperform" rating and set a $12.00 price objective for the company in a report on Friday, August 7th. Piper Sandler upgraded shares of Replimune Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Replimune Group from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Replimune Group presently has a consensus rating of "Moderate Buy" and an average target price of $12.00.

Replimune Group Stock Down 7.3%

The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $12.47 and a two-hundred day moving average of $8.75. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -4.25 and a beta of 0.94.

Replimune Group (NASDAQ:REPL - Get Free Report) last issued its earnings results on Friday, August 14th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). As a group, sell-side analysts anticipate that Replimune Group, Inc. will post -2.81 EPS for the current fiscal year.

Insider Activity at Replimune Group

In related news, insider Konstantinos Xynos sold 11,447 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $12.97, for a total transaction of $148,467.59. Following the sale, the insider owned 224,215 shares in the company, valued at $2,908,068.55. The trade was a 4.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 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 $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 approximately $1,289,542.25. The trade was a 7.13% decrease in their position. 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 valued at $1,038,364 over the last three months. 5.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Replimune Group

A number of hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Replimune Group in the 4th quarter valued at approximately $29,000. Allworth Financial LP bought a new position in shares of Replimune Group during the second quarter worth about $62,000. Essential Partners LLC lifted its stake in shares of Replimune Group by 562,400.0% in the first quarter. Essential Partners LLC now owns 5,625 shares of the company's stock worth $43,000 after acquiring an additional 5,624 shares during the period. BNP Paribas Financial Markets boosted its holdings in Replimune Group by 37.5% in the second quarter. BNP Paribas Financial Markets now owns 6,889 shares of the company's stock valued at $64,000 after acquiring an additional 1,879 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Replimune Group in the second quarter valued at approximately $69,000. 92.53% of the stock is owned by institutional investors and hedge funds.

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.

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