Replimune Group (NASDAQ:REPL) Shares Gap Down – Here’s Why

Replimune Group, Inc. (NASDAQ:REPL) shares gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on REPL shares. Leerink Partners reaffirmed a “market perform” rating and issued a $2.00 price objective (down from $11.00) on shares of Replimune Group in a report on Monday, April 13th. 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. Piper Sandler downgraded shares of Replimune Group from an “overweight” rating to a “neutral” rating and set a $4.00 target price for the company. in a research report on Friday, April 10th. HC Wainwright restated a “sell” rating on shares of Replimune Group in a research report on Monday, April 13th. Finally, Wedbush upped their price target on shares of Replimune Group from $6.00 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.86.

Replimune Group Trading Down 8.8%

The company has a 50 day simple moving average of $9.26 and a 200 day simple moving average of $7.42. 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 company has a market capitalization of $742.45 million, a PE ratio of -2.59 and a beta of 0.86.

Replimune Group (NASDAQ:REPL) last released its earnings results on Monday, June 29th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.10). Analysts anticipate that Replimune Group, Inc. will post -2.44 earnings per share for the current year.

Insider Activity at Replimune Group

In related news, insider Christopher Sarchi sold 12,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $9.24, for a total value of $110,880.00. Following the completion of the transaction, the insider directly owned 180,962 shares of the company’s stock, valued at approximately $1,672,088.88. This represents a 6.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Replimune Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in shares of Replimune Group during the fourth quarter worth $29,000. CWM LLC lifted its stake in shares of Replimune Group by 248.6% in the fourth quarter. CWM LLC now owns 4,047 shares of the company’s stock worth $39,000 after buying an additional 2,886 shares in the last quarter. Essential Partners LLC lifted its stake in shares of Replimune Group by 562,400.0% in the first quarter. Essential Partners LLC now owns 5,625 shares of the company’s stock worth $43,000 after buying an additional 5,624 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Replimune Group by 37.5% during the second quarter. BNP Paribas Financial Markets now owns 6,889 shares of the company’s stock worth $64,000 after acquiring an additional 1,879 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Replimune Group during the second quarter worth about $69,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

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.