Replimune Group (NASDAQ:REPL) Reaches New 1-Year High After Better-Than-Expected Earnings

Key Points

• Replimune shares surged 22.8% to a new 52-week high of $16.75 after the company reported a quarterly loss of $0.54 per share, beating analyst expectations of a $0.78 loss.
• Analyst sentiment is broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $12.00, though that target is below the current share price.
• Institutional investors own 92.53% of Replimune, while insiders own 5.40%; several insiders recently sold shares to cover tax obligations tied to equity awards.

Replimune Group, Inc. (NASDAQ:REPL - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $16.75 and last traded at $16.2140, with a volume of 4,572,519 shares traded. The stock had previously closed at $13.05.

The company reported ($0.54) EPS for the quarter, beating analysts' consensus estimates of ($0.78) by $0.24.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wedbush upgraded Replimune Group from a "neutral" rating to an "outperform" rating and set a $12.00 price objective for the company in a research note on Friday, August 7th. Wolfe Research raised shares of Replimune Group to an "outperform" rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. upped 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. BMO Capital Markets raised shares of Replimune Group from an "underperform" rating to an "outperform" rating and set a $16.00 price objective on the stock in a research report on Tuesday, June 30th. Finally, Weiss Ratings cut shares of Replimune Group from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Replimune Group currently has an average rating of "Moderate Buy" and an average price target of $12.00.

Insiders Place Their Bets

In other news, CFO Emily Hill sold 11,448 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 transaction of $148,480.56. Following the completion of the transaction, the chief financial officer directly owned 225,108 shares of the company's stock, valued at approximately $2,919,650.76. This represents a 4.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $12.97, for a total value of $148,467.59. Following the completion of the sale, the insider directly owned 224,215 shares of the company's stock, valued at $2,908,068.55. This represents a 4.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 79,124 shares of company stock worth $1,038,364. Company insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On Replimune Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP acquired a new stake in shares of Replimune Group in the second quarter valued at about $62,000. Essential Partners LLC raised its holdings in Replimune Group by 562,400.0% during the first quarter. Essential Partners LLC now owns 5,625 shares of the company's stock worth $43,000 after purchasing an additional 5,624 shares during the last quarter. Legal & General Group Plc acquired a new position in Replimune Group during the second quarter worth $85,000. WINTON GROUP Ltd purchased a new stake in Replimune Group during the second quarter worth $115,000. Finally, E Fund Management Co. Ltd. purchased a new position in shares of Replimune Group in the second quarter valued at $119,000. Institutional investors and hedge funds own 92.53% of the company's stock.

Replimune Group Stock Up 22.8%

The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average price of $13.45 and a 200-day moving average price of $9.21. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -5.09 and a beta of 0.93.

About Replimune Group

Replimune Group, Inc is a clinical-stage biotechnology company developing cancer immunotherapies designed to stimulate the immune system to recognize and attack tumors. The company's approach focuses on oncolytic immunotherapy, using genetically engineered viruses intended to selectively infect and destroy tumor cells while also activating broader antitumor immune responses.

Replimune's lead product candidate is RP1, also known as vusolimogene oderparepvec, an engineered oncolytic herpes simplex virus type 1 designed to replicate within tumors and promote systemic immune activity.

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