Replimune Group (NASDAQ:REPL) Stock Falls 6.7% - What's Next?

Key Points

• Replimune shares fell 6.7% to about $12.19, with trading volume substantially below average. The company recently reported a quarterly loss of $0.72 per share, missing estimates by $0.03.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy”; however, the average price target is $12.00, roughly in line with the stock’s trading level.
• Institutional investors own 92.53% of Replimune, while recent insider sales were attributed to covering tax obligations related to vested equity awards. The clinical-stage biotechnology company is developing oncolytic immunotherapies, led by its RP1 candidate.

Replimune Group, Inc. (NASDAQ:REPL - Get Free Report) dropped 6.7% during mid-day trading on Tuesday. The stock traded as low as $12.17 and last traded at $12.1890. Approximately 655,773 shares traded hands during trading, a decline of 85% from the average daily volume of 4,427,155 shares. The stock had previously closed at $13.07.

Analyst Upgrades and Downgrades

REPL has been the subject of a number of research analyst reports. Wedbush upgraded shares of Replimune Group from a "neutral" rating to an "outperform" rating and set a $12.00 price target for the company in a report on Friday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Replimune Group from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 26th. Wolfe Research raised shares of Replimune Group to an "outperform" rating in a report on Tuesday, August 4th. BMO Capital Markets raised Replimune Group from an "underperform" rating to an "outperform" rating and set a $16.00 price target on the stock in a research note on Tuesday, June 30th. Finally, Piper Sandler raised Replimune Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $12.00.

Replimune Group Stock Down 6.2%

The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average price of $13.88 and a 200-day moving average price of $9.64. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -3.89 and a beta of 0.93.

Replimune Group (NASDAQ:REPL - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.03). On average, equities analysts forecast that Replimune Group, Inc. will post -2.82 EPS for the current year.

Insider Buying and Selling at Replimune Group

In other news, insider Konstantinos Xynos sold 11,447 shares of the firm'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 $148,467.59. Following the completion of the transaction, the insider directly owned 224,215 shares of the company's stock, valued at $2,908,068.55. This trade represents a 4.86% decrease in their position. The sale was disclosed in a document filed 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, CEO Sushil Patel sold 39,341 shares of Replimune Group stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $12.97, for a total value of $510,252.77. Following the transaction, the chief executive officer owned 708,151 shares of the company's stock, valued at $9,184,718.47. This represents a 5.26% 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 79,124 shares of company stock valued at $1,038,364 over the last three months. Company insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On Replimune Group

Institutional investors have recently made changes to their positions in the stock. Essential Partners LLC lifted its holdings in Replimune Group by 562,400.0% in the 1st quarter. Essential Partners LLC now owns 5,625 shares of the company's stock valued at $43,000 after purchasing an additional 5,624 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of Replimune Group during the 2nd quarter worth about $62,000. Legal & General Group Plc purchased a new stake in shares of Replimune Group during the second quarter worth about $85,000. WINTON GROUP Ltd purchased a new stake in shares of Replimune Group during the second quarter worth about $115,000. Finally, E Fund Management Co. Ltd. purchased a new stake in shares of Replimune Group during the second quarter worth about $119,000. 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 oncolytic immunotherapies for the treatment of cancer. The company's approach uses genetically engineered viruses designed to selectively replicate in tumors, directly destroy cancer cells and stimulate a broader immune response against malignant tissue.

Replimune's lead product candidate is RP1, also known as vusolimogene oderparepvec, an engineered oncolytic herpes simplex virus type 1 intended for use in patients with advanced solid tumors.

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