Montanova Capital LLC Acquires 168,000 Shares of Replimune Group, Inc. $REPL

Key Points

• Montanova Capital increased its Replimune Group stake by 4% in the second quarter, purchasing 168,000 additional shares and bringing its holdings to 4.39 million shares valued at approximately $48.6 million. Institutional investors collectively own 92.53% of the company.
• Analyst sentiment is generally positive: Replimune has a consensus “Moderate Buy” rating and a $12.00 average price target, with several firms recently upgrading the stock to “outperform” or maintaining “overweight” ratings.
• REPL opened at $15.30, near its 52-week high of $16.15, despite the company reporting a quarterly loss of $0.72 per share that missed estimates. Insiders sold shares primarily to cover tax obligations tied to vested equity awards.

Montanova Capital LLC lifted its holdings in shares of Replimune Group, Inc. (NASDAQ:REPL - Free Report) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,389,836 shares of the company's stock after purchasing an additional 168,000 shares during the quarter. Montanova Capital LLC owned approximately 4.68% of Replimune Group worth $48,595,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of REPL. BlackRock Inc. acquired a new position in Replimune Group during the second quarter worth $99,171,000. Balyasny Asset Management L.P. boosted its stake in shares of Replimune Group by 507.4% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,628,100 shares of the company's stock worth $11,012,000 after acquiring an additional 2,195,448 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Replimune Group during the 4th quarter worth about $17,568,000. Commodore Capital LP acquired a new position in shares of Replimune Group during the 4th quarter valued at about $13,851,000. Finally, EcoR1 Capital LLC bought a new position in shares of Replimune Group in the 1st quarter valued at approximately $7,650,000. Institutional investors own 92.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. BMO Capital Markets upgraded Replimune Group from an "underperform" rating to an "outperform" rating and set a $16.00 target price for the company in a report on Tuesday, June 30th. JPMorgan Chase & Co. lifted their price target on shares of Replimune Group from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, August 26th. Wolfe Research upgraded shares of Replimune Group to an "outperform" rating in a research note on Tuesday, August 4th. Wedbush upgraded shares of Replimune Group from a "neutral" rating to an "outperform" rating and set a $12.00 target price on the stock in a research note on Friday, August 7th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Replimune Group in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.00.

Insider Buying and Selling

In other news, CAO Andrew Schwendenman sold 7,632 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $12.97, for a total value of $98,987.04. Following the sale, the chief accounting officer directly owned 99,425 shares in the company, valued at approximately $1,289,542.25. This represents a 7.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Konstantinos Xynos sold 11,447 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $12.97, for a total value of $148,467.59. Following the completion of the transaction, the insider directly owned 224,215 shares of the company's stock, valued at approximately $2,908,068.55. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 79,124 shares of company stock valued at $1,038,364 over the last ninety days. Company insiders own 5.40% of the company's stock.

Replimune Group Stock Down 1.3%

REPL opened at $15.30 on Tuesday. Replimune Group, Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $16.15. The company has a market capitalization of $1.44 billion, a P/E ratio of -4.86 and a beta of 0.88. The company has a debt-to-equity ratio of 1.00, a current ratio of 5.23 and a quick ratio of 5.23. The firm's fifty day moving average price is $11.92 and its two-hundred day moving average price is $8.40.

Replimune Group (NASDAQ:REPL - Get Free Report) last issued its earnings results on Friday, August 14th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.03). On average, analysts anticipate that Replimune Group, Inc. will post -2.81 EPS for the current year.

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.

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