Replimune Group (NASDAQ:REPL) Shares Gap Up – Still a Buy?

Replimune Group, Inc. (NASDAQ:REPL) gapped up prior to trading on Thursday . The stock had previously closed at $8.46, but opened at $8.80. Replimune Group shares last traded at $8.67, with a volume of 531,190 shares.

Wall Street Analyst Weigh In

REPL has been the subject of several recent research reports. HC Wainwright increased their price objective on shares of Replimune Group from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on shares of Replimune Group from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $19.43.

Replimune Group Stock Down 4.7%

The firm has a fifty day simple moving average of $8.63 and a 200-day simple moving average of $11.21. The company has a market capitalization of $643.08 million, a PE ratio of -2.72 and a beta of 0.68. The company has a debt-to-equity ratio of 0.14, a quick ratio of 11.43 and a current ratio of 11.43.

Replimune Group (NASDAQ:REPL) last released its quarterly earnings results on Thursday, May 22nd. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.07). During the same period last year, the business earned ($0.25) EPS. Equities research analysts anticipate that Replimune Group, Inc. will post -2.97 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sushil Patel sold 25,105 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $8.06, for a total value of $202,346.30. Following the completion of the sale, the chief executive officer now directly owns 343,576 shares of the company’s stock, valued at $2,769,222.56. The trade was a 6.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Andrew Schwendenman sold 3,287 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $8.05, for a total value of $26,460.35. Following the sale, the chief accounting officer now owns 68,284 shares in the company, valued at $549,686.20. The trade was a 4.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,907 shares of company stock valued at $603,655 in the last ninety days. Corporate insiders own 8.80% of the company’s stock.

Hedge Funds Weigh In On Replimune Group

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Replimune Group by 11.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,962,883 shares of the company’s stock worth $132,761,000 after purchasing an additional 1,083,633 shares during the last quarter. Redmile Group LLC lifted its position in Replimune Group by 2.6% in the 4th quarter. Redmile Group LLC now owns 4,905,527 shares of the company’s stock valued at $59,406,000 after purchasing an additional 124,344 shares during the last quarter. Vanguard Group Inc. lifted its position in Replimune Group by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 3,833,033 shares of the company’s stock valued at $37,372,000 after purchasing an additional 237,185 shares during the last quarter. Tang Capital Management LLC boosted its stake in Replimune Group by 125.0% during the 4th quarter. Tang Capital Management LLC now owns 2,700,000 shares of the company’s stock valued at $32,697,000 after purchasing an additional 1,500,000 shares during the period. Finally, RTW Investments LP grew its position in Replimune Group by 82.1% in the 4th quarter. RTW Investments LP now owns 2,065,010 shares of the company’s stock worth $25,007,000 after purchasing an additional 931,223 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

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.