Replimune Group (NASDAQ:REPL) Shares Gap Up – Time to Buy?

Replimune Group, Inc. (NASDAQ:REPL) shares gapped up before the market opened on Wednesday . The stock had previously closed at $8.78, but opened at $9.49. Replimune Group shares last traded at $9.3720, with a volume of 462,393 shares.

Wall Street Analysts Forecast Growth

REPL has been the subject of a number of recent research reports. Leerink Partners reissued a “market perform” rating and issued a $2.00 price objective (down from $11.00) on shares of Replimune Group in a research note on Monday, April 13th. BMO Capital Markets downgraded Replimune Group from a “market perform” rating to an “underperform” rating in a research report on Monday, April 13th. JPMorgan Chase & Co. raised shares of Replimune Group from an “underweight” rating to a “neutral” rating and set a $8.00 price objective for the company in a research note on Friday, May 29th. HC Wainwright reaffirmed a “sell” rating on shares of Replimune Group in a research note on Monday, April 13th. Finally, Weiss Ratings lowered shares of Replimune Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 3rd. Seven investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $4.88.

Replimune Group Stock Performance

The company has a current ratio of 5.60, a quick ratio of 5.60 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $845.05 million, a PE ratio of -2.98 and a beta of 0.88. The firm’s fifty day moving average price is $5.27 and its two-hundred day moving average price is $7.25.

Insider Transactions at Replimune Group

In other Replimune Group news, insider Christopher Sarchi sold 12,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $9.24, for a total transaction of $110,880.00. Following the sale, the insider directly owned 180,962 shares in the company, valued at $1,672,088.88. This represents a 6.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.20% of the stock is currently owned by company insiders.

Institutional Trading of Replimune Group

Several hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its stake in shares of Replimune Group by 10.3% during the fourth quarter. ProShare Advisors LLC now owns 16,116 shares of the company’s stock worth $157,000 after purchasing an additional 1,505 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Replimune Group by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 38,016 shares of the company’s stock worth $159,000 after purchasing an additional 1,712 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Replimune Group by 7.8% during the fourth quarter. Ballentine Partners LLC now owns 23,665 shares of the company’s stock worth $230,000 after purchasing an additional 1,721 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Replimune Group by 37.5% during the second quarter. BNP Paribas Financial Markets now owns 6,889 shares of the company’s stock worth $64,000 after purchasing an additional 1,879 shares in the last quarter. Finally, NEOS Investment Management LLC increased its position in shares of Replimune Group by 5.0% during the third quarter. NEOS Investment Management LLC now owns 42,966 shares of the company’s stock worth $180,000 after purchasing an additional 2,060 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

About Replimune Group

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.