Replimune Group (NASDAQ:REPL) Shares Gap Up – Here’s What Happened

Replimune Group, Inc. (NASDAQ:REPL) shares gapped up before the market opened on Friday . The stock had previously closed at $4.68, but opened at $7.93. Replimune Group shares last traded at $8.3250, with a volume of 19,835,009 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on REPL. Piper Sandler cut Replimune Group from an “overweight” rating to a “neutral” rating and set a $4.00 price target for the company. in a report on Friday, April 10th. Jefferies Financial Group restated a “hold” rating and issued a $2.00 price objective (down from $13.00) on shares of Replimune Group in a research note on Monday, April 13th. HC Wainwright reiterated a “sell” rating 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 report on Monday, April 13th. Finally, Leerink Partners restated a “market perform” rating and issued a $2.00 price objective (down from $11.00) on shares of Replimune Group in a research report on Monday, April 13th. Six research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $4.75.

Replimune Group Stock Performance

The company’s 50-day moving average price is $4.84 and its 200 day moving average price is $7.25. 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 stock has a market capitalization of $709.28 million, a PE ratio of -2.52 and a beta of 0.12.

Insider Transactions at Replimune Group

In other Replimune Group news, insider Christopher Sarchi sold 6,500 shares of Replimune Group stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $8.01, for a total value of $52,065.00. Following the completion of the transaction, the insider directly owned 151,588 shares of the company’s stock, valued at approximately $1,214,219.88. The trade was a 4.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Fcpm Iii Services B.V. boosted its stake in shares of Replimune Group by 6.4% during the 3rd quarter. Fcpm Iii Services B.V. now owns 4,158,368 shares of the company’s stock worth $17,424,000 after purchasing an additional 248,672 shares during the period. Erste Asset Management GmbH boosted its stake in shares of Replimune Group by 13,597.5% during the 3rd quarter. Erste Asset Management GmbH now owns 1,630,000 shares of the company’s stock worth $7,074,000 after purchasing an additional 1,618,100 shares during the period. Braidwell LP boosted its stake in shares of Replimune Group by 550.3% during the 3rd quarter. Braidwell LP now owns 2,750,092 shares of the company’s stock worth $11,523,000 after purchasing an additional 2,327,205 shares during the period. Readystate Asset Management LP boosted its stake in shares of Replimune Group by 1,296.2% during the 3rd quarter. Readystate Asset Management LP now owns 2,621,012 shares of the company’s stock worth $10,982,000 after purchasing an additional 2,433,292 shares during the period. Finally, Quinn Opportunity Partners LLC purchased a new position in Replimune Group during the 3rd quarter valued at $2,727,000. 92.53% of the stock is owned by hedge funds and other institutional investors.

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.