Replimune Group (NASDAQ:REPL) Shares Down 3.8% Following Analyst Downgrade

Replimune Group, Inc. (NASDAQ:REPLGet Rating) traded down 3.8% during trading on Wednesday after Wedbush lowered their price target on the stock from $59.00 to $52.00. Wedbush currently has an outperform rating on the stock. Replimune Group traded as low as $13.56 and last traded at $13.60. 3,756 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 353,485 shares. The stock had previously closed at $14.14.

Several other analysts also recently commented on REPL. JPMorgan Chase & Co. decreased their target price on shares of Replimune Group from $47.00 to $39.00 and set an “overweight” rating for the company in a research report on Monday, April 4th. BMO Capital Markets decreased their price objective on shares of Replimune Group from $51.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, March 18th. Zacks Investment Research raised shares of Replimune Group from a “sell” rating to a “hold” rating in a report on Saturday, May 14th. Piper Sandler decreased their price objective on shares of Replimune Group from $52.00 to $44.00 in a report on Thursday, May 19th. Finally, SVB Leerink decreased their price objective on shares of Replimune Group from $49.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, May 20th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Replimune Group has an average rating of “Buy” and an average target price of $47.57.

In other news, insider Pamela Esposito sold 3,507 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $14.59, for a total value of $51,167.13. Following the completion of the transaction, the insider now owns 229,402 shares in the company, valued at approximately $3,346,975.18. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Fund Iv L.P. Omega sold 16,500 shares of the stock in a transaction on Monday, March 14th. The shares were sold at an average price of $15.42, for a total transaction of $254,430.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,399 shares of company stock valued at $588,526. Corporate insiders own 40.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in REPL. Point72 Hong Kong Ltd acquired a new position in shares of Replimune Group in the 3rd quarter valued at $108,000. Royal Bank of Canada increased its position in shares of Replimune Group by 15.8% during the 3rd quarter. Royal Bank of Canada now owns 4,804 shares of the company’s stock worth $143,000 after purchasing an additional 657 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Replimune Group by 455.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,601 shares of the company’s stock worth $166,000 after purchasing an additional 4,592 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of Replimune Group during the 1st quarter worth about $185,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Replimune Group during the 3rd quarter worth about $217,000. Institutional investors own 75.42% of the company’s stock.

The firm has a market cap of $667.84 million, a price-to-earnings ratio of -6.26 and a beta of 2.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 23.39 and a current ratio of 23.39. The business’s 50-day moving average is $16.68 and its 200-day moving average is $21.32.

About Replimune Group (NASDAQ:REPL)

Replimune Group, Inc, a biotechnology company, develops oncolytic immuno-gene therapies to treat cancer. It uses its proprietary Immulytic platform to design and develop product candidates that are intended to activate the immune system against cancer. The company's lead product candidate is RP1, a selectively replicating version of herpes simplex virus 1, which is in Phase I/II clinical trials for a range of solid tumors; and that is in Phase II clinical trials for patients with cutaneous squamous cell carcinoma.

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