Replimune Group (NASDAQ:REPL) Sees Large Volume Increase - Still a Buy?

Key Points

• Replimune shares experienced a major selloff and volume surge: 10.35 million shares traded, 128% above the prior session, while the stock fell from $8.63 to approximately $6.07.
• Analyst sentiment is mixed but improving: JPMorgan and BMO upgraded the stock to Overweight and Outperform with $17 and $16 targets, respectively, while the broader consensus remains Hold with an average target of $8.86.
• The clinical-stage biotechnology company missed quarterly earnings expectations, reporting a loss of $0.76 per share versus the expected $0.66 loss; analysts forecast a full-year loss of $2.44 per share.

Shares of Replimune Group, Inc. (NASDAQ:REPL - Get Free Report) saw unusually-high trading volume on Tuesday . 10,354,575 shares were traded during mid-day trading, an increase of 128% from the previous session's volume of 4,542,994 shares.The stock last traded at $6.0720 and had previously closed at $8.63.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on REPL shares. Wedbush increased their price objective on shares of Replimune Group from $6.00 to $9.00 and gave the company a "neutral" rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. raised shares of Replimune Group from a "neutral" rating to an "overweight" rating and set a $17.00 target price on the stock in a research note on Friday, June 26th. BMO Capital Markets upgraded shares of Replimune Group from an "underperform" rating to an "outperform" rating and set a $16.00 price target for the company in a research note on Tuesday, June 30th. Cantor Fitzgerald downgraded Replimune Group from an "overweight" rating to a "hold" rating in a report on Monday, April 13th. Finally, Wall Street Zen upgraded Replimune Group from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 23rd. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Replimune Group has a consensus rating of "Hold" and an average target price of $8.86.

Replimune Group Price Performance

The stock has a fifty day moving average of $9.34 and a 200-day moving average of $7.42. The firm has a market capitalization of $452.02 million, a P/E ratio of -1.59 and a beta of 0.86. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.63.

Replimune Group (NASDAQ:REPL - Get Free Report) last released its quarterly earnings results on Monday, June 29th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.10). Equities analysts predict that Replimune Group, Inc. will post -2.44 EPS for the current fiscal year.

Insider Transactions at Replimune Group

In other news, insider Christopher Sarchi sold 12,000 shares of the firm's 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 transaction, the insider owned 180,962 shares of the company's stock, valued at approximately $1,672,088.88. This trade represents a 6.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.20% of the company's stock.

Institutional Trading of Replimune Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Balyasny Asset Management L.P. increased its holdings in Replimune Group by 507.4% in the third quarter. Balyasny Asset Management L.P. now owns 2,628,100 shares of the company's stock valued at $11,012,000 after purchasing an additional 2,195,448 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Replimune Group in the 4th quarter valued at about $17,568,000. Commodore Capital LP acquired a new stake in shares of Replimune Group in the 4th quarter valued at approximately $13,851,000. EcoR1 Capital LLC bought a new position in Replimune Group during the 1st quarter worth approximately $7,650,000. Finally, JPMorgan Chase & Co. boosted its stake in Replimune Group by 2,333.6% during the 4th quarter. JPMorgan Chase & Co. now owns 925,173 shares of the company's stock worth $8,993,000 after acquiring an additional 887,157 shares during the last quarter. 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.

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