Why Replimune Stock Was Tumbling Again Today
One day after enduring a nearly 40% decline in its share price, bitoech Replimune (NASDAQ: REPL) was also down on Friday, although nowhere near as steeply. The company's stock was in the red by almost 7%, which didn't look so hot next to the S&P 500's (SNPINDEX: ^GSPC) gain of 0.5%. A recommendation downgrade from an analyst was a major reason for the day's decline.
Well before market open that morning, Anupam Rama from J.P. Morgan changed his recommendation on Replimune from neutral to underweight (sell, in other words). The analyst withdrew his $6 price target and did not set a new one.
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Source Fool.com
