Replimune Group (NASDAQ:REPL) Trading 9.6% Higher – Here’s What Happened

Replimune Group, Inc. (NASDAQ:REPL)’s share price was up 9.6% during trading on Monday . The company traded as high as $10.94 and last traded at $11.1710. Approximately 740,133 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 4,696,079 shares. The stock had previously closed at $10.19.

Wall Street Analysts Forecast Growth

REPL has been the topic of several research analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $2.00 price objective (down from $13.00) on shares of Replimune Group in a research note 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. Wedbush raised their price target on shares of Replimune Group from $2.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, June 1st. JPMorgan Chase & Co. upgraded shares of Replimune Group from an “underweight” rating to a “neutral” rating and set a $8.00 price objective on the stock in a report on Friday, May 29th. Finally, Weiss Ratings upgraded shares of Replimune Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. Seven analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $4.88.

Replimune Group Price Performance

The stock has a market cap of $973.67 million, a price-to-earnings ratio of -3.42 and a beta of 0.91. The company has a debt-to-equity ratio of 0.33, a current ratio of 5.60 and a quick ratio of 5.60. The stock’s 50 day simple moving average is $5.67 and its two-hundred day simple moving average is $7.27.

Insiders Place Their Bets

In related 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 $1,672,088.88. This represents a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Replimune Group

Several hedge funds and other institutional investors have recently modified their holdings of REPL. Seven Fleet Capital Management LP acquired a new position in Replimune Group during the first quarter worth $921,000. Essential Partners LLC grew its holdings in Replimune Group by 562,400.0% during the 1st quarter. Essential Partners LLC now owns 5,625 shares of the company’s stock worth $43,000 after acquiring an additional 5,624 shares during the period. Bank of America Corp DE raised its position in shares of Replimune Group by 17.7% during the 1st quarter. Bank of America Corp DE now owns 253,449 shares of the company’s stock valued at $1,939,000 after acquiring an additional 38,119 shares during the last quarter. Readystate Asset Management LP acquired a new position in shares of Replimune Group in the 1st quarter valued at $1,059,000. Finally, EcoR1 Capital LLC acquired a new stake in shares of Replimune Group during the first quarter worth $7,650,000. 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.