Replimune Group (NASDAQ:REPL) Shares Down 6.6% – Here’s What Happened

Replimune Group, Inc. (NASDAQ:REPL) shares fell 6.6% on Tuesday . The company traded as low as $10.16 and last traded at $10.17. 382,397 shares were traded during mid-day trading, a decline of 45% from the average session volume of 695,592 shares. The stock had previously closed at $10.89.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on REPL. BMO Capital Markets upped their price objective on Replimune Group from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Jefferies Financial Group boosted their price objective on shares of Replimune Group from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price on Replimune Group from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 24th. Finally, HC Wainwright restated a “buy” rating and set a $17.00 price target on shares of Replimune Group in a research report on Friday, November 22nd. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $17.29.

Replimune Group Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 10.11 and a current ratio of 10.11. The firm’s fifty day simple moving average is $12.25 and its 200 day simple moving average is $11.18. The firm has a market cap of $708.83 million, a P/E ratio of -3.40 and a beta of 1.28.

Replimune Group (NASDAQ:REPL) last posted its earnings results on Tuesday, November 12th. The company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.07. As a group, analysts forecast that Replimune Group, Inc. will post -2.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Sushil Patel sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $12.42, for a total transaction of $124,200.00. Following the transaction, the chief executive officer now owns 202,014 shares of the company’s stock, valued at approximately $2,509,013.88. The trade was a 4.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Konstantinos Xynos sold 7,246 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.78, for a total value of $78,111.88. Following the completion of the sale, the insider now owns 109,885 shares of the company’s stock, valued at approximately $1,184,560.30. This represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.80% of the company’s stock.

Hedge Funds Weigh In On Replimune Group

A number of large investors have recently made changes to their positions in the company. Millennium Management LLC lifted its stake in Replimune Group by 575.1% in the second quarter. Millennium Management LLC now owns 3,118,035 shares of the company’s stock worth $28,062,000 after purchasing an additional 2,656,173 shares during the last quarter. Braidwell LP lifted its stake in shares of Replimune Group by 203.0% during the 3rd quarter. Braidwell LP now owns 3,070,837 shares of the company’s stock worth $33,656,000 after acquiring an additional 2,057,460 shares during the last quarter. State Street Corp boosted its holdings in Replimune Group by 102.1% during the 3rd quarter. State Street Corp now owns 2,340,042 shares of the company’s stock valued at $25,647,000 after acquiring an additional 1,182,181 shares during the period. Baker BROS. Advisors LP grew its position in Replimune Group by 10.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 11,045,336 shares of the company’s stock valued at $121,057,000 after acquiring an additional 1,000,000 shares during the last quarter. Finally, Parkman Healthcare Partners LLC increased its stake in Replimune Group by 45.5% in the third quarter. Parkman Healthcare Partners LLC now owns 763,747 shares of the company’s stock worth $8,371,000 after purchasing an additional 238,747 shares during the period. 92.53% of the stock is owned by hedge funds and other 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.