Why Replimune Stock Was Tumbling Again Today

Core Viewpoint - Replimune's stock has experienced significant volatility, with a nearly 40% decline followed by a further drop of almost 7% after an analyst downgrade, contrasting with the S&P 500's gain of 0.5% [1][2]. Group 1: Analyst Recommendations - Anupam Rama from J.P. Morgan downgraded Replimune's recommendation from neutral to underweight (sell) and withdrew his $6 price target without setting a new one [2]. - Raghuram Selvaraju from H.C. Wainwright reiterated a neutral recommendation on Replimune, but did not specify a price target [5]. Group 2: FDA Developments - The downgrade was influenced by recent discussions between Replimune and FDA officials regarding the investigational melanoma treatment RP1, which did not yield a conclusive outcome [3][4]. - Despite RP1's strong performance in clinical testing, its future approval prospects appear uncertain, with accelerated FDA approval now unlikely [4].