Replimune Group (NASDAQ:REPL) Trading 5.5% Higher – Here’s What Happened

Shares of Replimune Group, Inc. (NASDAQ:REPL) traded up 5.5% during mid-day trading on Wednesday . The company traded as high as $9.70 and last traded at $9.36. 958,289 shares were traded during mid-day trading, a decline of 80% from the average session volume of 4,806,471 shares. The stock had previously closed at $8.87.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets cut shares of Replimune Group from a “market perform” rating to an “underperform” rating in a research note on Monday, April 13th. Piper Sandler cut shares of Replimune Group from an “overweight” rating to a “neutral” rating and set a $4.00 price objective for the company. in a research note on Friday, April 10th. Wedbush increased their price objective on shares of Replimune Group from $2.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday. Weiss Ratings cut shares of Replimune Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. Finally, Leerink Partners reiterated a “market perform” rating and set a $2.00 target price (down from $11.00) on shares of Replimune Group in a research report on Monday, April 13th. Seven research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $4.88.

Replimune Group Stock Down 1.1%

The firm has a market cap of $815.00 million, a price-to-earnings ratio of -2.87 and a beta of 0.91. The company has a debt-to-equity ratio of 0.33, a quick ratio of 5.60 and a current ratio of 5.60. The business’s 50-day moving average is $5.08 and its 200-day moving average is $7.26.

Insider Activity

In related news, insider Christopher Sarchi sold 12,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $9.24, for a total transaction of $110,880.00. Following the completion of the sale, the insider owned 180,962 shares in the company, valued at $1,672,088.88. This trade represents a 6.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Replimune Group

Hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC grew its position in shares of Replimune Group by 10.3% during the 4th quarter. ProShare Advisors LLC now owns 16,116 shares of the company’s stock worth $157,000 after buying an additional 1,505 shares during the period. JPMorgan Chase & Co. grew its position in shares of Replimune Group by 4.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,016 shares of the company’s stock worth $159,000 after buying an additional 1,712 shares during the period. Ballentine Partners LLC grew its position in shares of Replimune Group by 7.8% during the 4th quarter. Ballentine Partners LLC now owns 23,665 shares of the company’s stock worth $230,000 after buying an additional 1,721 shares during the period. BNP Paribas Financial Markets grew its position in shares of Replimune Group by 37.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,889 shares of the company’s stock worth $64,000 after buying an additional 1,879 shares during the period. Finally, NEOS Investment Management LLC grew its position in shares of Replimune Group by 5.0% during the 3rd quarter. NEOS Investment Management LLC now owns 42,966 shares of the company’s stock worth $180,000 after buying an additional 2,060 shares during the period. Institutional investors own 92.53% of the company’s stock.

Replimune Group Company Profile

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.