Replimune Group, Inc. (NASDAQ:REPL) CEO Sushil Patel has recently sold shares in the company, generating a total of $130,655. The transaction involved 20,194 shares of common stock sold at a weighted average price of $6.47. The sale took place on May 16, 2024, and was disclosed in a regulatory filing with the Securities and Exchange Commission.
According to the filing details, the shares were sold in multiple transactions with prices ranging from $6.46 to $6.56 per share. The CEO's sale was made to cover tax withholding obligations related to the partial vesting of his Restricted Stock Units (RSUs). It's noted that this sale was executed under a pre-existing "sell to cover" provision outlined in the award agreements for the RSUs and was not a discretionary sale by Patel.
Following the sale, Patel still holds a substantial number of shares in Replimune, totaling 212,014 shares of common stock. The company, based in Woburn, Massachusetts, operates in the biotechnology sector, specializing in biological products.
Investors and shareholders interested in the specifics of the transactions, including the number of shares sold at each price within the range, can request further details from Patel, Replimune, or the SEC.
This financial move by the CEO of Replimune comes as part of the regular financial planning and obligations that executives often have to manage. The disclosure of such transactions ensures transparency and allows investors to stay informed about significant insider trades.
InvestingPro Insights
Replimune Group, Inc. (NASDAQ:REPL) has been navigating a challenging market environment, as evidenced by the InvestingPro Data metrics. The company's market capitalization stands at $364.81 million, reflecting its size within the biotechnology sector. Notably, the stock is trading near its 52-week low, with a price that is only 23.94% of the 52-week high, and has experienced a significant price drop of 69.66% over the last year. The recent transactions by CEO Sushil Patel occurred against this backdrop of a bearish market trend for Replimune's shares.
InvestingPro Tips highlight critical financial aspects of the company. Replimune does not pay a dividend to shareholders, which may influence investment decisions for those seeking regular income. Moreover, analysts do not anticipate the company will be profitable this year, which is a consideration for investors looking at the company’s future earnings potential. For those interested in a deeper analysis, there are additional InvestingPro Tips available, providing a more comprehensive understanding of Replimune's financial health and market position.
Investors considering Replimune as part of their portfolio may find value in the detailed insights offered by InvestingPro, which include more tips beyond the two mentioned here. To access these insights, visit InvestingPro. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing your investment research with a suite of professional tools.
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