Replimune Group (NASDAQ:REPL) Stock Price Down 8% – Here’s What Happened

Replimune Group, Inc. (NASDAQ:REPL) dropped 8% during mid-day trading on Friday . The stock traded as low as $6.96 and last traded at $6.9730. Approximately 1,024,169 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 1,369,877 shares. The stock had previously closed at $7.58.

Wall Street Analyst Weigh In

REPL has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Replimune Group from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Replimune Group in a research note on Monday, December 29th. Finally, Wedbush upped their target price on shares of Replimune Group from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.00.

Replimune Group Stock Down 6.3%

The firm has a market cap of $586.25 million, a price-to-earnings ratio of -2.06 and a beta of 0.72. The company has a quick ratio of 5.60, a current ratio of 5.60 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average price of $7.76 and a 200-day moving average price of $7.64.

Replimune Group (NASDAQ:REPL) last released its earnings results on Tuesday, February 3rd. The company reported ($0.77) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.08. As a group, sell-side analysts forecast that Replimune Group, Inc. will post -2.97 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of REPL. Readystate Asset Management LP boosted its position in shares of Replimune Group by 1,296.2% in the third quarter. Readystate Asset Management LP now owns 2,621,012 shares of the company’s stock worth $10,982,000 after acquiring an additional 2,433,292 shares during the last quarter. Braidwell LP boosted its holdings in shares of Replimune Group by 550.3% in the 3rd quarter. Braidwell LP now owns 2,750,092 shares of the company’s stock valued at $11,523,000 after purchasing an additional 2,327,205 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Replimune Group by 507.4% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,628,100 shares of the company’s stock valued at $11,012,000 after purchasing an additional 2,195,448 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Replimune Group during the 4th quarter valued at $17,568,000. Finally, Erste Asset Management GmbH increased its holdings in shares of Replimune Group by 13,597.5% during the 3rd quarter. Erste Asset Management GmbH now owns 1,630,000 shares of the company’s stock worth $7,074,000 after buying an additional 1,618,100 shares during the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

About Replimune Group

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.