Replimune Group (NASDAQ:REPL) Shares Gap Down - Time to Sell?

Key Points

• Replimune shares fell sharply, opening at $8.69 after a $9.70 close and later trading at $8.08 on 1.63 million shares.
• Analyst sentiment is mixed but centers on a “Hold” consensus, with an average price target of $8.86; targets range from $2.00 to $9.00, while several firms maintain neutral or sell ratings.
• The clinical-stage biotech reported a quarterly EPS loss of $0.76, worse than the expected $0.66 loss, and analysts project a full-year loss of $2.44 per share. Institutional investors own a substantial 92.53% of the stock, while an insider recently sold 12,000 shares.

Replimune Group, Inc. (NASDAQ:REPL - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $9.70, but opened at $8.69. Replimune Group shares last traded at $8.08, with a volume of 1,630,000 shares.

Analysts Set New Price Targets

REPL has been the subject of several recent research reports. Leerink Partners reissued a "market perform" rating and set a $2.00 price target (down from $11.00) on shares of Replimune Group in a report on Monday, April 13th. Wedbush upped their price target on Replimune Group from $6.00 to $9.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 30th. Cantor Fitzgerald downgraded Replimune Group from an "overweight" rating to a "hold" rating in a research note on Monday, April 13th. Weiss Ratings raised Replimune Group from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, July 20th. Finally, HC Wainwright reiterated a "sell" rating on shares of Replimune Group in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $8.86.

Replimune Group Stock Performance

The firm has a market capitalization of $742.45 million, a PE ratio of -2.59 and a beta of 0.86. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.79 and a current ratio of 4.79. The business's fifty day simple moving average is $9.26 and its 200-day simple moving average is $7.42.

Replimune Group (NASDAQ:REPL - Get Free Report) last issued its quarterly earnings results on Monday, June 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.10). As a group, equities research analysts expect that Replimune Group, Inc. will post -2.44 EPS for the current year.

Insiders Place Their Bets

In other Replimune Group news, insider Christopher Sarchi sold 12,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $9.24, for a total transaction of $110,880.00. Following the sale, the insider owned 180,962 shares of the company's stock, valued at approximately $1,672,088.88. The trade was a 6.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 5.20% of the company's stock.

Institutional Investors Weigh In On Replimune Group

A number of large investors have recently made changes to their positions in the stock. Balyasny Asset Management L.P. grew its stake in 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. purchased a new position in shares of Replimune Group in the fourth quarter worth about $17,568,000. Commodore Capital LP acquired a new stake in shares of Replimune Group during the fourth quarter worth about $13,851,000. EcoR1 Capital LLC acquired a new stake in shares of Replimune Group during the first quarter worth about $7,650,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Replimune Group by 2,333.6% during the fourth quarter. JPMorgan Chase & Co. now owns 925,173 shares of the company's stock worth $8,993,000 after purchasing an additional 887,157 shares during the period. 92.53% of the stock is owned by hedge funds and other institutional investors.

Replimune Group Company Profile

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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