Replimune Group (NASDAQ:REPL) Cut to "Strong Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Replimune to a "strong sell", and multiple brokers have cut ratings and targets, leaving a consensus rating of "Reduce" with a consensus price target of $4.75.
• Shares opened at $2.42 and were trading down ~15.1%, trading near a 52‑week low ($1.50) with a market cap of about $200M while analysts forecast a negative EPS (‑3.39) for the year.
• An insider sold 6,500 shares under a prearranged Rule 10b5‑1 plan, and institutional ownership is very high (~92.5%), with several funds recently increasing positions.

Replimune Group (NASDAQ:REPL - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Saturday.

A number of other brokerages have also issued reports on REPL. BMO Capital Markets lowered Replimune Group from a "market perform" rating to an "underperform" rating in a research note on Monday, April 13th. Leerink Partners reiterated a "market perform" rating and issued a $2.00 price target (down from $11.00) on shares of Replimune Group in a research note on Monday, April 13th. Wedbush reiterated a "neutral" rating and issued a $2.00 price target (down from $19.00) on shares of Replimune Group in a research note on Monday, April 13th. HC Wainwright reiterated a "sell" rating on shares of Replimune Group in a research note on Monday, April 13th. Finally, Cantor Fitzgerald lowered Replimune Group from an "overweight" rating to a "hold" rating in a research note on Monday, April 13th. Six equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $4.75.

Replimune Group Trading Down 15.1%

Shares of REPL stock opened at $2.42 on Friday. Replimune Group has a 52-week low of $1.50 and a 52-week high of $13.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 5.60 and a current ratio of 5.60. The firm has a market capitalization of $199.82 million, a PE ratio of -0.70 and a beta of 0.74. The stock has a fifty day simple moving average of $6.44 and a two-hundred day simple moving average of $7.75.

Replimune Group (NASDAQ:REPL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.85) by $0.08. On average, analysts predict that Replimune Group will post -3.39 EPS for the current fiscal year.

Insider Activity at Replimune Group

In other Replimune Group news, insider Christopher Sarchi sold 6,500 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $8.01, for a total transaction of $52,065.00. Following the completion of the transaction, the insider owned 151,588 shares of the company's stock, valued at $1,214,219.88. This 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in REPL. Readystate Asset Management LP boosted its holdings in shares of Replimune Group by 1,296.2% during the 3rd quarter. Readystate Asset Management LP now owns 2,621,012 shares of the company's stock valued at $10,982,000 after purchasing an additional 2,433,292 shares during the last quarter. Braidwell LP boosted its holdings in shares of Replimune Group by 550.3% during 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 last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Replimune Group by 507.4% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,628,100 shares of the company's stock valued at $11,012,000 after purchasing an additional 2,195,448 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Replimune Group during the 4th quarter valued at about $17,568,000. Finally, Erste Asset Management GmbH boosted its holdings in shares of Replimune Group by 13,597.5% during the 3rd quarter. Erste Asset Management GmbH now owns 1,630,000 shares of the company's stock valued at $7,074,000 after purchasing an additional 1,618,100 shares during the last quarter. 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.

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