Replimune Group (NASDAQ:REPL) Trading 10.9% Higher – Here’s What Happened

Replimune Group, Inc. (NASDAQ:REPL)’s stock price rose 10.9% during mid-day trading on Wednesday . The stock traded as high as $8.98 and last traded at $9.3730. Approximately 323,089 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 977,758 shares. The stock had previously closed at $8.45.

Analyst Upgrades and Downgrades

Several analysts have issued reports on REPL shares. Leerink Partners upgraded Replimune Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $3.00 to $13.00 in a research note on Monday, October 20th. JPMorgan Chase & Co. upgraded shares of Replimune Group from an “underweight” rating to a “neutral” rating and set a $11.00 price objective on the stock in a research note on Monday, October 20th. Wedbush upgraded shares of Replimune Group from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $4.00 to $18.00 in a research report on Monday, October 20th. Piper Sandler upgraded shares of Replimune Group from a “neutral” rating to an “overweight” rating and set a $13.00 price target on the stock in a research report on Monday, October 20th. Finally, Leerink Partnrs raised shares of Replimune Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.75.

Replimune Group Price Performance

The company has a 50-day moving average of $9.46 and a 200-day moving average of $7.61. The company has a current ratio of 6.31, a quick ratio of 6.31 and a debt-to-equity ratio of 0.26.

Replimune Group (NASDAQ:REPL) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Analysts expect that Replimune Group, Inc. will post -2.97 earnings per share for the current fiscal year.

Insider Activity

In other Replimune Group news, insider Christopher Sarchi sold 5,208 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $9.10, for a total transaction of $47,392.80. Following the completion of the transaction, the insider owned 123,088 shares in the company, valued at approximately $1,120,100.80. This trade represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Konstantinos Xynos sold 7,248 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $9.10, for a total transaction of $65,956.80. Following the sale, the insider directly owned 139,685 shares in the company, valued at $1,271,133.50. This trade represents a 4.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 25,625 shares of company stock worth $257,607. 5.20% of the stock is owned by company insiders.

Institutional Trading of Replimune Group

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Replimune Group by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 38,016 shares of the company’s stock worth $159,000 after acquiring an additional 1,712 shares in the last quarter. BNP Paribas Financial Markets increased its position in Replimune Group by 37.5% in the 2nd 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. NEOS Investment Management LLC raised its stake in Replimune Group by 5.0% during the 3rd quarter. NEOS Investment Management LLC now owns 42,966 shares of the company’s stock worth $180,000 after buying an additional 2,060 shares during the period. Tema Etfs LLC grew its stake in Replimune Group by 9.0% in the second quarter. Tema Etfs LLC now owns 40,906 shares of the company’s stock valued at $380,000 after acquiring an additional 3,384 shares during the period. Finally, AlphaQuest LLC increased its holdings in shares of Replimune Group by 99.9% during the second quarter. AlphaQuest LLC now owns 9,857 shares of the company’s stock valued at $92,000 after acquiring an additional 4,925 shares in the last quarter. Institutional investors and hedge funds 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.