Replimune Group (NASDAQ:REPL) Shares Gap Up After Analyst Upgrade

Replimune Group, Inc. (NASDAQ:REPL) shares gapped up before the market opened on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $16.00 to $19.00. The stock had previously closed at $12.40, but opened at $13.19. JPMorgan Chase & Co. currently has an overweight rating on the stock. Replimune Group shares last traded at $12.48, with a volume of 1,214,365 shares.

Several other research firms have also weighed in on REPL. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Replimune Group in a report on Thursday, July 3rd. Cantor Fitzgerald assumed coverage on Replimune Group in a report on Friday, June 20th. They set an “overweight” rating on the stock. Finally, Piper Sandler boosted their target price on Replimune Group from $14.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, June 2nd. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $21.00.

Insider Activity at Replimune Group

In other Replimune Group news, Director Philip Astley-Sparke sold 32,279 shares of Replimune Group stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $8.06, for a total value of $260,168.74. Following the transaction, the director directly owned 1,405,071 shares of the company’s stock, valued at $11,324,872.26. The trade was a 2.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sushil Patel sold 25,105 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $8.06, for a total value of $202,346.30. Following the transaction, the chief executive officer owned 343,576 shares of the company’s stock, valued at approximately $2,769,222.56. This trade represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,907 shares of company stock valued at $603,655. 8.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Replimune Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC raised its stake in Replimune Group by 364.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,109 shares of the company’s stock valued at $26,000 after purchasing an additional 1,655 shares during the last quarter. US Bancorp DE increased its holdings in shares of Replimune Group by 582.6% during the 1st quarter. US Bancorp DE now owns 4,594 shares of the company’s stock worth $45,000 after purchasing an additional 3,921 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Replimune Group by 696.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,772 shares of the company’s stock valued at $82,000 after buying an additional 5,922 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its stake in shares of Replimune Group by 8,798.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 8,276 shares of the company’s stock valued at $100,000 after buying an additional 8,183 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Replimune Group by 106.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,410 shares of the company’s stock worth $111,000 after buying an additional 5,876 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Replimune Group Trading Up 1.9%

The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $973.65 million, a price-to-earnings ratio of -4.11 and a beta of 0.61. The business has a 50-day moving average of $9.34 and a two-hundred day moving average of $10.49.

Replimune Group (NASDAQ:REPL) last announced its quarterly earnings data on Thursday, May 22nd. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.07). During the same period in the prior year, the business earned ($0.25) earnings per share. Research analysts predict that Replimune Group, Inc. will post -2.97 EPS for the current fiscal year.

About Replimune Group

Replimune Group, Inc, a clinical-stage biotechnology company, focuses on the development of oncolytic immunotherapies to treat cancer. The company's proprietary tumor-directed oncolytic immunotherapy product candidates are designed and intended to activate the immune system against cancer. Its lead product candidate is RP1, a selectively replicating version of HSV-1 that expresses GALV-GP R(-) and human GM-CSF, which is in Phase I/II clinical trials for a range of solid tumors; and that has completed Phase II clinical trials for treating cutaneous squamous cell carcinoma.