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

Key Points

• Replimune Group shares surged from a closing price of $4.50 to an opening price of $9.19 following an upgrade by Leerink Partners, which raised its price target from $3.00 to $13.00.
• Analysts have mixed ratings on the stock, with four giving a Buy rating, four a Hold rating, and three a Sell rating, resulting in a consensus rating of "Hold".
• Insider activity includes CFO Emily Luisa Hill selling 9,154 shares at an average price of $5.37, reducing her ownership by 6.38% to a total of 134,368 shares.

Replimune Group, Inc. (NASDAQ:REPL - Get Free Report) shares gapped up before the market opened on Monday after Leerink Partners upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $4.50, but opened at $9.19. Leerink Partners now has a $13.00 price target on the stock, up from their previous price target of $3.00. Replimune Group shares last traded at $9.00, with a volume of 66,328,399 shares trading hands.

Several other analysts have also recently weighed in on the stock. Wedbush raised shares of Replimune Group from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $4.00 to $18.00 in a research note on Monday. Piper Sandler cut shares of Replimune Group from an "overweight" rating to a "neutral" rating and set a $3.00 price objective on the stock. in a research note on Tuesday, July 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Replimune Group in a research note on Tuesday, October 14th. BMO Capital Markets cut shares of Replimune Group from an "outperform" rating to an "underperform" rating and decreased their price target for the company from $27.00 to $2.00 in a research note on Wednesday, July 23rd. Finally, Leerink Partnrs cut shares of Replimune Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Replimune Group presently has a consensus rating of "Hold" and a consensus target price of $9.50.

Insider Activity at Replimune Group

In other news, CFO Emily Luisa Hill sold 9,154 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $5.37, for a total transaction of $49,156.98. Following the sale, the chief financial officer directly owned 134,368 shares of the company's stock, valued at $721,556.16. This represents a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Replimune Group

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in Replimune Group by 20.9% in the first quarter. Goldman Sachs Group Inc. now owns 690,167 shares of the company's stock valued at $6,729,000 after buying an additional 119,145 shares during the period. Exome Asset Management LLC lifted its holdings in Replimune Group by 438.6% in the first quarter. Exome Asset Management LLC now owns 294,846 shares of the company's stock valued at $2,875,000 after buying an additional 240,108 shares during the period. Moody Aldrich Partners LLC acquired a new position in Replimune Group in the first quarter valued at approximately $1,925,000. Nuveen LLC acquired a new position in Replimune Group in the first quarter valued at approximately $6,546,000. Finally, Deutsche Bank AG lifted its holdings in Replimune Group by 0.4% in the first quarter. Deutsche Bank AG now owns 563,701 shares of the company's stock valued at $5,496,000 after buying an additional 2,140 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Replimune Group Price Performance

The company's fifty day moving average is $5.03 and its two-hundred day moving average is $7.27. The firm has a market capitalization of $757.34 million, a price-to-earnings ratio of -2.99 and a beta of 0.42. The company has a quick ratio of 6.94, a current ratio of 6.94 and a debt-to-equity ratio of 0.21.

Replimune Group (NASDAQ:REPL - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.12). Equities research analysts anticipate that Replimune Group, Inc. will post -2.97 earnings per share for the current fiscal year.

About Replimune Group

Replimune Group, Inc, a clinical-stage biotechnology company, focuses on the development of oncolytic immunotherapies to treat cancer. The company's proprietary tumor-directed oncolytic immunotherapy product candidates are designed and intended to activate the immune system against cancer. Its lead product candidate is RP1, a selectively replicating version of HSV-1 that expresses GALV-GP R(-) and human GM-CSF, which is in Phase I/II clinical trials for a range of solid tumors; and that has completed Phase II clinical trials for treating cutaneous squamous cell carcinoma.

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