Replimune Group, Inc. (NASDAQ:REPL) Chief Operating Officer Colin Love has sold a portion of his holdings in the company, a recent filing with the Securities and Exchange Commission revealed. The transaction, which took place on May 16, 2024, involved the sale of 17,615 shares of common stock at a weighted average price of $6.47 per share, resulting in a total value of $113,969.
According to the details provided, the shares were sold to satisfy tax withholding obligations associated with the partial vesting of Love's Restricted Stock Units (RSUs). The sale was executed under a pre-arranged "sell to cover" plan as stipulated in the award agreements of the RSUs. It is important to note that this was not a discretionary sale by Love but a necessary action to cover tax liabilities.
Investors interested in the specifics of the transaction prices will find that the shares were sold in multiple transactions with prices ranging between $6.46 and $6.56. The company or its security holders, as well as the SEC staff, can request detailed information about the exact number of shares sold at each price point within this range.
Following this transaction, Love's ownership in Replimune stands at 777,345 shares of common stock. The company, headquartered in Woburn, Massachusetts, specializes in biological products and remains a key player in the life sciences sector.
As of the signature date on May 20, 2024, the filing was executed by Shawn Glidden, acting as attorney-in-fact for Love. Transactions like these are regularly reported by company insiders to maintain transparency with investors and regulatory authorities.
InvestingPro Insights
As Replimune Group, Inc. (NASDAQ:REPL) navigates the challenges of the biotech industry, recent data from InvestingPro offers insights into the company's financial health and stock performance. With a market capitalization of $364.81 million and a price-to-book ratio over the last twelve months as of Q4 2024 at 0.97, Replimune's valuation metrics present a complex picture for investors. The company's stock has experienced significant volatility, as indicated by a 1-week price total return of -11.48% and a 1-year price total return of -69.66%.
Two critical InvestingPro Tips highlight the company's current financial position: Replimune is not profitable over the last twelve months, and analysts do not anticipate the company will be profitable this year. These factors are crucial for investors to consider, especially in light of the COO's recent share sale to cover tax obligations. Moreover, the company's stock trading near its 52-week low, at only 23.94% of its high, suggests that investor sentiment has been bearish.
For those looking to delve deeper into Replimune's financials and stock performance, InvestingPro offers additional tips. Interested readers can explore further by visiting: https://www.investing.com/pro/REPL. And for a limited time, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With a total of 9 additional InvestingPro Tips available, investors can gain more comprehensive insights into Replimune's prospects and make more informed decisions.
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