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

Replimune Group, Inc. (NASDAQ:REPL)’s stock price gapped up prior to trading on Monday after Piper Sandler upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $4.50, but opened at $9.19. Piper Sandler now has a $13.00 price target on the stock. Replimune Group shares last traded at $9.00, with a volume of 66,328,399 shares trading hands.

A number of other equities research analysts have also commented on the stock. Cantor Fitzgerald raised shares of Replimune Group from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 30th. HC Wainwright reaffirmed a “neutral” rating on shares of Replimune Group in a research note on Monday, September 8th. Wedbush raised shares of Replimune Group from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $4.00 to $18.00 in a research note on Monday. Jefferies Financial Group cut their target price on shares of Replimune Group from $31.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, July 22nd. Finally, BMO Capital Markets lowered shares of Replimune Group from an “outperform” rating to an “underperform” rating and cut their target price for the stock from $27.00 to $2.00 in a research note on Wednesday, July 23rd. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Replimune Group currently has a consensus rating of “Hold” and an average target price of $11.00.

Insider Transactions at Replimune Group

In related news, CFO Emily Luisa Hill sold 9,154 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $5.37, for a total transaction of $49,156.98. Following the transaction, the chief financial officer directly owned 134,368 shares of the company’s stock, valued at $721,556.16. This represents a 6.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. US Bancorp DE lifted its stake in shares of Replimune Group by 582.6% in the first quarter. US Bancorp DE now owns 4,594 shares of the company’s stock valued at $45,000 after buying an additional 3,921 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Replimune Group by 37.5% in the second quarter. BNP Paribas Financial Markets now owns 6,889 shares of the company’s stock valued at $64,000 after buying an additional 1,879 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Replimune Group in the second quarter valued at $69,000. Tower Research Capital LLC TRC lifted its stake in shares of Replimune Group by 2,020.8% in the second quarter. Tower Research Capital LLC TRC now owns 9,692 shares of the company’s stock valued at $90,000 after buying an additional 9,235 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Replimune Group by 99.9% in the second quarter. AlphaQuest LLC now owns 9,857 shares of the company’s stock valued at $92,000 after buying an additional 4,925 shares in the last quarter. 92.53% of the stock is owned by institutional investors.

Replimune Group Price Performance

The stock has a market capitalization of $697.86 million, a P/E ratio of -2.76 and a beta of 0.42. The business’s 50 day simple moving average is $5.11 and its two-hundred day simple moving average is $7.28. The company has a quick ratio of 6.94, a current ratio of 6.94 and a debt-to-equity ratio of 0.21.

Replimune Group (NASDAQ:REPL) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.12). As a group, sell-side analysts forecast that Replimune Group, Inc. will post -2.97 earnings per share 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.