Replimune Group (NASDAQ:REPL) Shares Gap Down Following Analyst Downgrade

Replimune Group, Inc. (NASDAQ:REPL)’s stock price gapped down before the market opened on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $17.00 to $14.00. The stock had previously closed at $9.55, but opened at $9.32. JPMorgan Chase & Co. currently has an overweight rating on the stock. Replimune Group shares last traded at $9.49, with a volume of 20,686 shares traded.

Several other equities research analysts have also recently commented on REPL. Wedbush reissued an “outperform” rating and issued a $16.00 price target on shares of Replimune Group in a research note on Thursday, June 6th. HC Wainwright increased their price target on shares of Replimune Group from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Finally, Barclays raised their price target on shares of Replimune Group from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, June 7th.

Insider Buying and Selling

In related news, Chairman Philip Astley-Sparke sold 37,928 shares of Replimune Group stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $6.47, for a total value of $245,394.16. Following the transaction, the chairman now owns 1,487,350 shares in the company, valued at approximately $9,623,154.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Philip Astley-Sparke sold 37,928 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $6.47, for a total transaction of $245,394.16. Following the completion of the transaction, the chairman now directly owns 1,487,350 shares in the company, valued at approximately $9,623,154.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Colin Love sold 17,615 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $6.47, for a total transaction of $113,969.05. Following the completion of the sale, the chief operating officer now owns 777,345 shares in the company, valued at $5,029,422.15. The disclosure for this sale can be found here. In the last three months, insiders sold 107,598 shares of company stock valued at $712,516. Company insiders own 20.60% of the company’s stock.

Hedge Funds Weigh In On Replimune Group

Large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in shares of Replimune Group in the first quarter valued at $927,000. BNP Paribas Financial Markets lifted its holdings in shares of Replimune Group by 517.9% during the 4th quarter. BNP Paribas Financial Markets now owns 196,251 shares of the company’s stock worth $1,654,000 after acquiring an additional 164,490 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of Replimune Group during the 4th quarter valued at about $2,282,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Replimune Group in the 1st quarter worth approximately $1,088,000. Finally, Rafferty Asset Management LLC lifted its holdings in shares of Replimune Group by 148.1% during the fourth quarter. Rafferty Asset Management LLC now owns 463,397 shares of the company’s stock valued at $3,906,000 after acquiring an additional 276,596 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.

Replimune Group Stock Performance

The stock has a market capitalization of $585.28 million, a price-to-earnings ratio of -2.95 and a beta of 1.25. The stock’s 50-day simple moving average is $9.06 and its 200 day simple moving average is $7.93. The company has a quick ratio of 10.72, a current ratio of 10.72 and a debt-to-equity ratio of 0.18.

Replimune Group (NASDAQ:REPL) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.10. Analysts expect that Replimune Group, Inc. will post -3.31 earnings per share for the current fiscal year.

Replimune Group Company Profile

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.