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

Replimune Group, Inc. (NASDAQ:REPL)’s stock price gapped up before the market opened on Monday after JPMorgan Chase & Co. raised their price target on the stock from $17.00 to $20.00. The stock had previously closed at $12.06, but opened at $12.64. JPMorgan Chase & Co. currently has an overweight rating on the stock. Replimune Group shares last traded at $13.2680, with a volume of 2,514,783 shares changing hands.

A number of other equities research analysts also recently issued reports on REPL. Wolfe Research upgraded shares of Replimune Group to an “outperform” rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of Replimune Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. Jefferies Financial Group reaffirmed a “hold” rating and set a $2.00 price target (down from $13.00) on shares of Replimune Group in a report on Monday, April 13th. Leerink Partners upgraded shares of Replimune Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $11.00 to $17.00 in a research report on Tuesday, August 4th. Finally, BMO Capital Markets raised shares of Replimune Group from an “underperform” rating to an “outperform” rating and set a $16.00 price objective on the stock in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.86.

Insider Buying and Selling

In other news, insider Christopher Sarchi sold 12,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $9.24, for a total value of $110,880.00. Following the completion of the transaction, the insider owned 180,962 shares of the company’s stock, valued at approximately $1,672,088.88. This represents a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Replimune Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Replimune Group during the 2nd quarter worth $99,171,000. Balyasny Asset Management L.P. increased its holdings in Replimune Group by 507.4% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,628,100 shares of the company’s stock worth $11,012,000 after purchasing an additional 2,195,448 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Replimune Group in the fourth quarter valued at about $17,568,000. Commodore Capital LP bought a new position in Replimune Group in the fourth quarter valued at about $13,851,000. Finally, EcoR1 Capital LLC acquired a new stake in shares of Replimune Group during the first quarter valued at about $7,650,000. 92.53% of the stock is owned by institutional investors.

Replimune Group Stock Performance

The company has a fifty day moving average price of $10.15 and a two-hundred day moving average price of $7.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.79 and a quick ratio of 4.79. The company has a market capitalization of $1.13 billion, a P/E ratio of -3.99 and a beta of 0.88.

Replimune Group (NASDAQ:REPL) last posted its earnings results on Monday, June 29th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.10). Equities analysts forecast that Replimune Group, Inc. will post -2.54 earnings per share for the current fiscal year.

Replimune Group Company Profile

Replimune Group, Inc is a clinical‐stage biotechnology company focused on developing next‐generation oncolytic immunotherapies for the treatment of solid tumors. The company’s proprietary “RP” platform leverages genetically engineered herpes simplex virus type 1 (HSV-1) vectors armed with immunomodulatory payloads to selectively infect, replicate within and destroy cancer cells, while also stimulating systemic antitumor immune responses.

Replimune’s lead candidate, RP1, incorporates GM-CSF and a fusogenic protein to enhance both direct oncolysis and immune activation.