Replimune Group (NASDAQ:REPL) Sees Large Volume Increase – Here’s What Happened

Shares of Replimune Group, Inc. (NASDAQ:REPL) saw an uptick in trading volume on Wednesday . 2,589,778 shares were traded during trading, an increase of 73% from the previous session’s volume of 1,494,138 shares.The stock last traded at $6.9770 and had previously closed at $7.01.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on REPL shares. Wedbush upgraded shares of Replimune Group from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $4.00 to $18.00 in a research report on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Replimune Group in a report on Monday, December 29th. JPMorgan Chase & Co. raised Replimune Group from an “underweight” rating to a “neutral” rating and set a $11.00 price target on the stock in a research note on Monday, October 20th. Piper Sandler raised Replimune Group from a “neutral” rating to an “overweight” rating and set a $13.00 price objective for the company in a research note on Monday, October 20th. Finally, Leerink Partnrs upgraded shares of Replimune Group from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Replimune Group has an average rating of “Moderate Buy” and an average target price of $9.75.

Replimune Group Price Performance

The company has a current ratio of 6.31, a quick ratio of 6.31 and a debt-to-equity ratio of 0.26. The stock has a market cap of $551.22 million, a PE ratio of -2.03 and a beta of 0.72. The business has a fifty day simple moving average of $9.27 and a two-hundred day simple moving average of $7.49.

Replimune Group (NASDAQ:REPL) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Research analysts forecast that Replimune Group, Inc. will post -2.97 earnings per share for the current year.

Insider Buying and Selling at Replimune Group

In other news, insider Christopher Sarchi sold 5,208 shares of Replimune Group stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $9.10, for a total transaction of $47,392.80. Following the completion of the transaction, the insider directly owned 123,088 shares in the company, valued at approximately $1,120,100.80. This trade represents a 4.06% 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, CEO Sushil Patel sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $11.13, for a total value of $111,300.00. Following the transaction, the chief executive officer directly owned 333,576 shares of the company’s stock, valued at approximately $3,712,700.88. This trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 25,625 shares of company stock valued at $257,607. Insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Replimune Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its holdings in shares of Replimune Group by 3,638.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,777 shares of the company’s stock worth $33,000 after purchasing an additional 7,569 shares in the last quarter. BNP Paribas Financial Markets raised its position in Replimune Group by 99.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,762 shares of the company’s stock worth $58,000 after buying an additional 6,873 shares during the last quarter. Raymond James Financial Inc. bought a new position in Replimune Group during the 2nd quarter valued at about $69,000. GSA Capital Partners LLP purchased a new stake in shares of Replimune Group during the 3rd quarter valued at about $81,000. Finally, Griffin Asset Management Inc. bought a new stake in shares of Replimune Group in the third quarter worth approximately $82,000. 92.53% of the stock is owned by institutional investors.

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.