Granite Investment Partners LLC Lowers Stake in Repligen Co. (NASDAQ:RGEN)

Granite Investment Partners LLC decreased its position in Repligen Co. (NASDAQ:RGEN) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,820 shares of the biotechnology company’s stock after selling 635 shares during the quarter. Granite Investment Partners LLC owned 0.06% of Repligen worth $3,885,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Evoke Wealth LLC acquired a new position in Repligen during the 4th quarter worth about $1,955,000. Norden Group LLC boosted its stake in shares of Repligen by 1,711.6% in the first quarter. Norden Group LLC now owns 38,805 shares of the biotechnology company’s stock valued at $7,137,000 after purchasing an additional 36,663 shares during the period. Artemis Investment Management LLP grew its holdings in shares of Repligen by 33.8% in the first quarter. Artemis Investment Management LLP now owns 167,813 shares of the biotechnology company’s stock valued at $30,852,000 after purchasing an additional 42,380 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Repligen by 30.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 28,883 shares of the biotechnology company’s stock worth $5,312,000 after buying an additional 6,705 shares during the period. Finally, Congress Asset Management Co. MA lifted its holdings in Repligen by 14.6% during the 1st quarter. Congress Asset Management Co. MA now owns 88,013 shares of the biotechnology company’s stock worth $16,187,000 after buying an additional 11,213 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on RGEN. Wells Fargo & Company assumed coverage on Repligen in a research note on Tuesday, August 27th. They set an “overweight” rating and a $180.00 target price for the company. Benchmark restated a “hold” rating on shares of Repligen in a research note on Monday, August 5th. Stephens reiterated an “overweight” rating and issued a $170.00 price target on shares of Repligen in a research note on Tuesday, July 30th. UBS Group dropped their target price on shares of Repligen from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $190.00 price target on shares of Repligen in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $188.38.

Repligen Stock Performance

NASDAQ RGEN opened at $142.97 on Friday. The firm has a market cap of $7.99 billion, a P/E ratio of 571.88, a P/E/G ratio of 4.14 and a beta of 0.94. Repligen Co. has a 52-week low of $110.45 and a 52-week high of $211.13. The business’s 50-day moving average price is $147.30 and its 200 day moving average price is $155.51. The company has a quick ratio of 5.56, a current ratio of 6.65 and a debt-to-equity ratio of 0.26.

Repligen (NASDAQ:RGEN) last released its earnings results on Tuesday, July 30th. The biotechnology company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. Repligen had a positive return on equity of 3.36% and a negative net margin of 0.32%. The business had revenue of $154.07 million for the quarter, compared to analyst estimates of $154.11 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts expect that Repligen Co. will post 1.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Anthony Hunt sold 22,191 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $145.37, for a total transaction of $3,225,905.67. Following the transaction, the director now directly owns 139,840 shares in the company, valued at $20,328,540.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Repligen news, Director Anthony Hunt sold 22,191 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $145.37, for a total value of $3,225,905.67. Following the completion of the sale, the director now owns 139,840 shares of the company’s stock, valued at $20,328,540.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Ralf Kuriyel sold 4,465 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $165.67, for a total transaction of $739,716.55. Following the transaction, the vice president now directly owns 19,261 shares in the company, valued at $3,190,969.87. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Repligen Company Profile

Repligen Corporation develops and commercializes bioprocessing technologies and systems for use in biological drug manufacturing process in North America, Europe, the Asia Pacific, and internationally. It offers Protein A ligands that are the binding components of Protein A affinity chromatography resins; and cell culture growth factor products.