Replimune Group (NASDAQ:REPL) Shares Gap Down - Here's What Happened

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Replimune Group, Inc. (NASDAQ:REPL - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $7.55, but opened at $6.93. Replimune Group shares last traded at $7.34, with a volume of 6,679,560 shares traded.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. BMO Capital Markets downgraded Replimune Group from an "outperform" rating to an "underperform" rating and dropped their price objective for the stock from $27.00 to $2.00 in a research note on Wednesday, July 23rd. Wedbush reiterated a "neutral" rating and set a $4.00 price target (down previously from $19.00) on shares of Replimune Group in a report on Tuesday, July 22nd. Leerink Partners restated a "market perform" rating and issued a $3.00 target price (down previously from $21.00) on shares of Replimune Group in a research note on Tuesday, July 22nd. HC Wainwright downgraded Replimune Group from a "buy" rating to a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Jefferies Financial Group lowered their target price on Replimune Group from $31.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.67.

Replimune Group Stock Down 5.6%

The business has a 50-day simple moving average of $9.05 and a two-hundred day simple moving average of $10.11. The company has a market cap of $554.55 million, a price-to-earnings ratio of -2.33 and a beta of 0.61. The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.17.

Replimune Group (NASDAQ:REPL - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.07). During the same period last year, the business earned ($0.25) earnings per share. As a group, equities analysts forecast that Replimune Group, Inc. will post -2.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Replimune Group

In related news, Director Philip Astley-Sparke sold 32,279 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $8.06, for a total transaction of $260,168.74. Following the completion of the transaction, the director owned 1,405,071 shares of the company's stock, valued at approximately $11,324,872.26. The trade was a 2.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sushil Patel sold 25,105 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $8.06, for a total value of $202,346.30. Following the transaction, the chief executive officer directly owned 343,576 shares of the company's stock, valued at $2,769,222.56. This represents a 6.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,907 shares of company stock worth $603,655 in the last ninety days. 8.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Replimune Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its stake in Replimune Group by 364.5% during the fourth quarter. Sterling Capital Management LLC now owns 2,109 shares of the company's stock valued at $26,000 after acquiring an additional 1,655 shares during the period. US Bancorp DE grew its position in Replimune Group by 582.6% during the 1st quarter. US Bancorp DE now owns 4,594 shares of the company's stock worth $45,000 after acquiring an additional 3,921 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Replimune Group by 696.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,772 shares of the company's stock worth $82,000 after acquiring an additional 5,922 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its position in Replimune Group by 8,798.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 8,276 shares of the company's stock valued at $100,000 after buying an additional 8,183 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Replimune Group by 897.2% in the 1st quarter. GAMMA Investing LLC now owns 8,795 shares of the company's stock valued at $902,000 after buying an additional 7,913 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors.

About Replimune Group

Replimune Group, Inc, a clinical-stage biotechnology company, focuses on the development of oncolytic immunotherapies to treat cancer. The company's proprietary tumor-directed oncolytic immunotherapy product candidates are designed and intended to activate the immune system against cancer. Its lead product candidate is RP1, a selectively replicating version of HSV-1 that expresses GALV-GP R(-) and human GM-CSF, which is in Phase I/II clinical trials for a range of solid tumors; and that has completed Phase II clinical trials for treating cutaneous squamous cell carcinoma.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.