Replimune Group (NASDAQ:REPL) Shares Gap Up - Here's Why

Replimune Group, Inc. (NASDAQ:REPL - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $10.14, but opened at $12.60. Replimune Group shares last traded at $12.39, with a volume of 337,188 shares.

Analysts Set New Price Targets

A number of research firms recently weighed in on REPL. HC Wainwright reissued a "buy" rating and set a $17.00 price target on shares of Replimune Group in a research note on Friday, November 22nd. Jefferies Financial Group upped their target price on shares of Replimune Group from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. BMO Capital Markets raised their price target on Replimune Group from $14.00 to $18.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Replimune Group from $14.00 to $17.00 and gave the company an "overweight" rating in a report on Tuesday, September 24th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Replimune Group currently has a consensus rating of "Buy" and a consensus price target of $17.29.

Replimune Group Price Performance

The company has a current ratio of 10.11, a quick ratio of 10.11 and a debt-to-equity ratio of 0.18. The firm has a market cap of $810.74 million, a price-to-earnings ratio of -3.89 and a beta of 1.28. The company has a 50 day moving average of $12.16 and a 200 day moving average of $11.24.

Replimune Group (NASDAQ:REPL - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.07. Equities research analysts predict that Replimune Group, Inc. will post -2.91 EPS for the current fiscal year.

Insider Buying and Selling at Replimune Group

In other Replimune Group news, insider Konstantinos Xynos sold 7,246 shares of Replimune Group stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.78, for a total value of $78,111.88. Following the sale, the insider now owns 109,885 shares of the company's stock, valued at $1,184,560.30. This trade represents a 6.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sushil Patel sold 10,000 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $12.42, for a total value of $124,200.00. Following the transaction, the chief executive officer now directly owns 202,014 shares of the company's stock, valued at $2,509,013.88. This represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.80% of the company's stock.

Institutional Trading of Replimune Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 DIFC Ltd bought a new position in Replimune Group in the second quarter valued at $57,000. Erste Asset Management GmbH acquired a new position in shares of Replimune Group during the 3rd quarter worth about $133,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Replimune Group by 82.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,140 shares of the company's stock valued at $144,000 after acquiring an additional 5,926 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Replimune Group by 81.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,011 shares of the company's stock valued at $165,000 after acquiring an additional 6,748 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Replimune Group in the third quarter valued at about $222,000. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Replimune Group Company Profile

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.