Replimune Group (NASDAQ:REPL) Trading 6.3% Higher - Here's Why

Key Points

• Replimune Group's stock has experienced a **6.3% increase**, trading at $7.48, with more than 6 million shares exchanged during mid-day trading, surpassing its average daily volume by 56%.
• Analysts have significantly downgraded their price targets for Replimune Group, with Piper Sandler and Leerink Partners both setting a target of **$3.00**, while Jefferies Financial Group reduced its target from $31.00 to **$6.00**.
• Insider trading activity has seen executives selling **over 74,000 shares**, raising concerns as insiders now own approximately **8.80%** of the company's stock.

Replimune Group, Inc. (NASDAQ:REPL - Get Free Report) shares were up 6.3% during mid-day trading on Friday . The stock traded as high as $7.43 and last traded at $7.48. Approximately 6,079,516 shares were traded during mid-day trading, an increase of 56% from the average daily volume of 3,885,403 shares. The stock had previously closed at $7.03.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on REPL shares. Piper Sandler cut Replimune Group from an "overweight" rating to a "neutral" rating and set a $3.00 price objective for the company. in a research note on Tuesday, July 22nd. Leerink Partners reiterated a "market perform" rating and issued a $3.00 price objective (down previously from $21.00) on shares of Replimune Group in a research note on Tuesday, July 22nd. Wedbush reiterated a "neutral" rating and issued a $4.00 price objective (down previously from $19.00) on shares of Replimune Group in a research note on Tuesday, July 22nd. Jefferies Financial Group decreased their target price on Replimune Group from $31.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. Finally, Leerink Partnrs cut Replimune Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $7.67.

Replimune Group Price Performance

The stock has a fifty day moving average of $9.05 and a two-hundred day moving average of $10.11. The stock has a market cap of $591.36 million, a price-to-earnings ratio of -2.48 and a beta of 0.61. The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.17.

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

Insider Activity

In other Replimune Group news, insider Konstantinos Xynos sold 7,952 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $8.06, for a total value of $64,093.12. Following the sale, the insider owned 146,933 shares of the company's stock, valued at approximately $1,184,279.98. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Andrew Schwendenman sold 3,287 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $8.05, for a total value of $26,460.35. Following the completion of the sale, the chief accounting officer directly owned 68,284 shares in the company, valued at $549,686.20. This trade represents a 4.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,907 shares of company stock valued at $603,655 over the last three months. 8.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Replimune Group

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Replimune Group by 42.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 778,163 shares of the company's stock worth $9,425,000 after buying an additional 232,822 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Replimune Group by 108.9% in the 4th quarter. Nuveen Asset Management LLC now owns 667,634 shares of the company's stock worth $8,085,000 after purchasing an additional 347,993 shares during the period. GAMMA Investing LLC raised its holdings 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 worth $902,000 after purchasing an additional 7,913 shares during the period. Tower Research Capital LLC TRC raised its holdings 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 worth $82,000 after purchasing an additional 5,922 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Replimune Group by 33.8% during the 4th quarter. ProShare Advisors LLC now owns 20,788 shares of the company's stock valued at $252,000 after buying an additional 5,247 shares during the period. Institutional investors and hedge funds own 92.53% of the company's stock.

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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