Replimune Group (NASDAQ:REPL) Shares Gap Up - Here's What Happened

Shares of Replimune Group, Inc. (NASDAQ:REPL - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $9.63, but opened at $10.06. Replimune Group shares last traded at $9.81, with a volume of 201,462 shares changing hands.

Analyst Ratings Changes

Several analysts have recently weighed in on REPL shares. Piper Sandler increased their price target on shares of Replimune Group from $14.00 to $22.00 and gave the company an "overweight" rating in a research note on Monday, June 2nd. HC Wainwright raised their price target on shares of Replimune Group from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of Replimune Group from $16.00 to $18.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $20.29.

Replimune Group Price Performance

The stock has a 50-day moving average price of $8.38 and a 200 day moving average price of $11.04. The firm has a market cap of $800.16 million, a price-to-earnings ratio of -3.38 and a beta of 0.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 11.43 and a quick ratio of 11.43.

Replimune Group (NASDAQ:REPL - Get Free Report) last announced its earnings results on Thursday, May 22nd. The company reported ($0.82) EPS for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.07). During the same quarter last year, the firm earned ($0.25) EPS. As a group, equities research analysts forecast that Replimune Group, Inc. will post -2.97 earnings per share for the current fiscal year.

Insider Transactions at Replimune Group

In other Replimune Group news, insider Christopher Sarchi sold 3,749 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $8.05, for a total transaction of $30,179.45. Following the sale, the insider now directly owns 128,296 shares in the company, valued at approximately $1,032,782.80. The trade was a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip Astley-Sparke sold 32,279 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $8.06, for a total value of $260,168.74. Following the completion of the transaction, the director now directly owns 1,405,071 shares of the company's stock, valued at $11,324,872.26. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,907 shares of company stock worth $603,655. Company insiders own 8.80% of the company's stock.

Institutional Trading of Replimune Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Boxer Capital Management LLC purchased a new stake in Replimune Group in the 4th quarter worth approximately $21,754,000. Tang Capital Management LLC increased its position in Replimune Group by 125.0% during the 4th quarter. Tang Capital Management LLC now owns 2,700,000 shares of the company's stock worth $32,697,000 after purchasing an additional 1,500,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Replimune Group by 11.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,962,883 shares of the company's stock valued at $132,761,000 after acquiring an additional 1,083,633 shares during the period. MPM Bioimpact LLC purchased a new position in Replimune Group in the fourth quarter valued at about $11,504,000. Finally, RTW Investments LP raised its holdings in shares of Replimune Group by 82.1% during the 4th quarter. RTW Investments LP now owns 2,065,010 shares of the company's stock valued at $25,007,000 after buying an additional 931,223 shares during the period. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

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.