Replimune Group (NASDAQ:REPL) Shares Gap Up - Still a Buy?

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 trading hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Replimune Group from $16.00 to $18.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Piper Sandler raised their target price on shares of Replimune Group from $14.00 to $22.00 and gave the stock an "overweight" rating in a report on Monday. Finally, HC Wainwright lifted their target price on shares of Replimune Group from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $19.75.

Replimune Group Stock Performance

The company has a current ratio of 11.43, a quick ratio of 11.43 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $751.60 million, a PE ratio of -3.18 and a beta of 0.68. The firm's 50-day simple moving average is $8.34 and its two-hundred day simple moving average is $11.04.

Replimune Group (NASDAQ:REPL - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.07). During the same period in the previous year, the firm posted ($0.25) EPS. On average, equities research analysts expect that Replimune Group, Inc. will post -2.97 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Philip Astley-Sparke sold 32,279 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $8.06, for a total transaction of $260,168.74. Following the transaction, the director now directly owns 1,405,071 shares in the company, valued at $11,324,872.26. The trade was a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Konstantinos Xynos sold 7,952 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $8.06, for a total transaction of $64,093.12. Following the transaction, the insider now owns 146,933 shares in the company, valued at approximately $1,184,279.98. This represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,907 shares of company stock worth $603,655 in the last ninety days. Corporate insiders own 8.80% of the company's stock.

Hedge Funds Weigh In On Replimune Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC grew its holdings in shares of Replimune Group by 364.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,109 shares of the company's stock valued at $26,000 after acquiring an additional 1,655 shares in the last quarter. US Bancorp DE lifted its stake in shares of Replimune Group by 582.6% in the 1st quarter. US Bancorp DE now owns 4,594 shares of the company's stock valued at $45,000 after purchasing an additional 3,921 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Replimune Group by 696.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,772 shares of the company's stock valued at $82,000 after purchasing an additional 5,922 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its stake in shares of Replimune Group by 8,798.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 8,276 shares of the company's stock valued at $100,000 after purchasing an additional 8,183 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Replimune Group by 897.2% in the 1st quarter. GAMMA Investing LLC now owns 8,795 shares of the company's stock valued at $902,000 after purchasing an additional 7,913 shares during the last quarter. 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.