Replimune Group (NASDAQ:REPL) Shares Gap Up After Analyst Upgrade

Key Points

• Replimune shares jumped 11.3% after JPMorgan raised its price target from $17 to $20 and maintained an overweight rating; the stock opened at $12.64 versus a prior close of $12.06.
• Analyst sentiment is mixed but leans positive, with a consensus “Moderate Buy” rating based on one Strong Buy, five Buys, two Holds and two Sells. The average price target is $11.86.
• Replimune reported a quarterly loss of $0.76 per share, missing the $0.66-per-share consensus estimate, while institutional investors own a substantial 92.53% of the company.

Replimune Group, Inc. (NASDAQ:REPL - Get Free Report) shares gapped up prior to trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $17.00 to $20.00. The stock had previously closed at $12.06, but opened at $12.64. JPMorgan Chase & Co. currently has an overweight rating on the stock. Replimune Group shares last traded at $13.2680, with a volume of 2,514,783 shares trading hands.

A number of other brokerages have also weighed in on REPL. Leerink Partners raised shares of Replimune Group from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $11.00 to $17.00 in a research note on Tuesday, August 4th. HC Wainwright reissued a "sell" rating on shares of Replimune Group in a research report on Monday, April 13th. Piper Sandler upgraded shares of Replimune Group from a "hold" rating to a "strong-buy" rating in a report on Friday, July 31st. Jefferies Financial Group restated a "hold" rating and issued a $2.00 price target (down from $13.00) on shares of Replimune Group in a report on Monday, April 13th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $11.86.

Insider Buying and Selling

In other Replimune Group news, insider Christopher Sarchi sold 12,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $9.24, for a total transaction of $110,880.00. Following the transaction, the insider owned 180,962 shares of the company's stock, valued at $1,672,088.88. The trade was a 6.22% decrease in their ownership of the stock. The sale was disclosed in a filing 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 5.40% of the company's stock.

Institutional Investors Weigh In On Replimune Group

A number of institutional investors have recently made changes to their positions in REPL. International Assets Investment Management LLC bought a new position in Replimune Group during the 4th quarter worth $29,000. CWM LLC boosted its position in shares of Replimune Group by 248.6% in the fourth quarter. CWM LLC now owns 4,047 shares of the company's stock valued at $39,000 after acquiring an additional 2,886 shares during the period. Essential Partners LLC grew its stake in shares of Replimune Group by 562,400.0% in the first quarter. Essential Partners LLC now owns 5,625 shares of the company's stock valued at $43,000 after acquiring an additional 5,624 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Replimune Group by 37.5% in the second quarter. BNP Paribas Financial Markets now owns 6,889 shares of the company's stock valued at $64,000 after acquiring an additional 1,879 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Replimune Group during the second quarter worth about $69,000. Institutional investors own 92.53% of the company's stock.

Replimune Group Stock Up 11.3%

The company has a current ratio of 4.79, a quick ratio of 4.79 and a debt-to-equity ratio of 0.63. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -3.99 and a beta of 0.88. The firm's 50 day simple moving average is $10.15 and its two-hundred day simple moving average is $7.54.

Replimune Group (NASDAQ:REPL - Get Free Report) last announced its earnings results on Monday, June 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.10). On average, equities analysts forecast that Replimune Group, Inc. will post -2.54 EPS for the current year.

Replimune Group Company Profile

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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