Replimune Group (NASDAQ:REPL) Shares Gap Up – What’s Next?

Shares of Replimune Group, Inc. (NASDAQ:REPL) gapped up prior to trading on Wednesday . The stock had previously closed at $8.78, but opened at $9.49. Replimune Group shares last traded at $9.3720, with a volume of 462,393 shares changing hands.

Analysts Set New Price Targets

REPL has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Replimune Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. JPMorgan Chase & Co. upgraded Replimune Group from an “underweight” rating to a “neutral” rating and set a $8.00 price target for the company in a research report on Friday, May 29th. BMO Capital Markets cut Replimune Group from a “market perform” rating to an “underperform” rating in a research report on Monday, April 13th. Leerink Partners reissued a “market perform” rating and issued a $2.00 price target (down from $11.00) on shares of Replimune Group in a report on Monday, April 13th. Finally, Weiss Ratings lowered shares of Replimune Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 3rd. Seven research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $4.88.

Replimune Group Trading Up 16.6%

The stock’s fifty day moving average price is $5.27 and its 200 day moving average price is $7.25. The company has a quick ratio of 5.60, a current ratio of 5.60 and a debt-to-equity ratio of 0.33. The stock has a market cap of $845.05 million, a PE ratio of -2.98 and a beta of 0.88.

Insider Transactions at Replimune Group

In related news, insider Christopher Sarchi sold 12,000 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 180,962 shares of the company’s stock, valued at approximately $1,672,088.88. This represents a 6.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Fcpm Iii Services B.V. lifted its holdings in shares of Replimune Group by 6.4% in the third quarter. Fcpm Iii Services B.V. now owns 4,158,368 shares of the company’s stock worth $17,424,000 after buying an additional 248,672 shares in the last quarter. Erste Asset Management GmbH grew its position in shares of Replimune Group by 13,597.5% during the third quarter. Erste Asset Management GmbH now owns 1,630,000 shares of the company’s stock valued at $7,074,000 after purchasing an additional 1,618,100 shares in the last quarter. Braidwell LP grew its position in shares of Replimune Group by 550.3% during the third quarter. Braidwell LP now owns 2,750,092 shares of the company’s stock valued at $11,523,000 after purchasing an additional 2,327,205 shares in the last quarter. Readystate Asset Management LP grew its position in shares of Replimune Group by 1,296.2% during the third quarter. Readystate Asset Management LP now owns 2,621,012 shares of the company’s stock valued at $10,982,000 after purchasing an additional 2,433,292 shares in the last quarter. Finally, Quinn Opportunity Partners LLC purchased a new position in shares of Replimune Group during the third quarter valued at about $2,727,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

About Replimune Group

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.