WOBURN, MA – In a recent transaction, Andrew Schwendenman, the Chief Accounting Officer of Replimune Group, Inc. (NASDAQ:REPL), a biotechnology firm specializing in biological products, sold shares of the company's common stock. The transaction, which took place on May 16, 2024, involved the sale of 2,298 shares at an average price of $6.47 per share, resulting in a total sale value of $14,868.
The shares were sold primarily to cover tax withholding obligations associated with the partial vesting of Schwendenman's Restricted Stock Units (RSUs). As noted in the footnotes of the filing, the sale was executed in accordance with a pre-determined "sell to cover" provision outlined in the award agreements under which the RSUs were granted. This means that the sale was not a discretionary decision by Schwendenman but rather a mandatory action to fulfill tax requirements.
Investors interested in the specific prices at which the shares were sold can request detailed information from Replimune Group, as the shares were sold at various prices ranging from $6.46 to $6.56. Following the transaction, Schwendenman still owns 38,238 shares of Replimune Group, indicating a continued investment in the company's future.
The sale was reported in a Form 4 filing with the Securities and Exchange Commission, which was signed by attorney-in-fact Shawn Glidden on behalf of Schwendenman on May 20, 2024.
InvestingPro Insights
In light of the recent stock sale by Replimune Group's Chief Accounting Officer, Andrew Schwendenman, investors may look for deeper financial insights into the company's performance and position. According to InvestingPro data, Replimune Group holds a market capitalization of $364.81 million as of the latest figures. The company's stock has been under significant pressure, with a price that is currently only 23.94% of its 52-week high, reflecting a notable decline in investor confidence over the past year.
One important metric for investors to consider is the Price to Earnings (P/E) ratio, which for Replimune Group stands at -1.81, indicating that the company is not currently profitable. This aligns with an InvestingPro Tip suggesting that analysts do not anticipate the company will be profitable this year. Additionally, the stock's performance over the past week shows a total return of -11.48%, which may raise concerns about short-term volatility and is consistent with another InvestingPro Tip that the stock has taken a significant hit over the last week.
While the immediate financial data may present a challenging picture, it's worth noting that Replimune Group's liquid assets exceed its short-term obligations, providing some financial stability in the near term. For investors seeking more comprehensive analysis and additional InvestingPro Tips, Replimune Group's detailed financials and future outlook can be further explored on InvestingPro. Currently, there are 10 additional InvestingPro Tips available, which can be accessed with a subscription. Moreover, for those interested in a deeper dive, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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