Replimune Group (NASDAQ:REPL) Shares Down 6.7% – Time to Sell?

Shares of Replimune Group, Inc. (NASDAQ:REPL) dropped 6.7% on Tuesday. The company traded as low as $12.17 and last traded at $12.1890. Approximately 655,773 shares were traded during trading, a decline of 85% from the average session volume of 4,427,155 shares. The stock had previously closed at $13.07.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on REPL. BMO Capital Markets raised shares of Replimune Group from an “underperform” rating to an “outperform” rating and set a $16.00 target price for the company in a report on Tuesday, June 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Replimune Group in a report on Monday, October 5th. Leerink Partners raised Replimune Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $11.00 to $17.00 in a research note on Tuesday, August 4th. Wedbush raised Replimune Group from a “neutral” rating to an “outperform” rating and set a $12.00 target price on the stock in a research note on Friday, August 7th. Finally, Wolfe Research raised Replimune Group to an “outperform” rating in a report on Tuesday, August 4th. One research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Replimune Group Stock Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 5.23 and a quick ratio of 5.23. The business has a 50-day simple moving average of $13.88 and a 200-day simple moving average of $9.70. The firm has a market capitalization of $1.10 billion, a PE ratio of -3.72 and a beta of 0.93.

Replimune Group (NASDAQ:REPL) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Equities research analysts expect that Replimune Group, Inc. will post -2.82 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Andrew Schwendenman sold 7,632 shares of the firm’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 in the company, valued at $1,289,542.25. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Emily Hill sold 11,448 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $12.97, for a total transaction of $148,480.56. Following the transaction, the chief financial officer owned 225,108 shares of the company’s stock, valued at $2,919,650.76. This represents a 4.84% 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. In the last 90 days, insiders have sold 79,124 shares of company stock worth $1,038,364. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in REPL. Essential Partners LLC grew its position in shares of Replimune Group by 562,400.0% during 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 last quarter. Allworth Financial LP acquired a new stake in Replimune Group in the second quarter valued at about $62,000. Legal & General Group Plc purchased a new position in shares of Replimune Group during the 2nd quarter worth approximately $85,000. WINTON GROUP Ltd purchased a new stake in shares of Replimune Group during the 2nd quarter worth $115,000. Finally, E Fund Management Co. Ltd. purchased a new stake in 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.