JPMorgan Chase & Co. Sells 9,681,000 Shares of Repligen Co. (NASDAQ:RGEN)

JPMorgan Chase & Co. reduced its position in Repligen Co. (NASDAQ:RGEN) by 96.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 363,499 shares of the biotechnology company’s stock after selling 9,681,000 shares during the period. JPMorgan Chase & Co. owned about 0.65% of Repligen worth $54,096,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Toronto Dominion Bank raised its stake in shares of Repligen by 1.5% in the second quarter. Toronto Dominion Bank now owns 5,207 shares of the biotechnology company’s stock worth $656,000 after purchasing an additional 75 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Repligen by 1.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 7,839 shares of the biotechnology company’s stock worth $982,000 after buying an additional 89 shares in the last quarter. MML Investors Services LLC raised its position in Repligen by 2.7% in the 3rd quarter. MML Investors Services LLC now owns 3,383 shares of the biotechnology company’s stock worth $503,000 after buying an additional 89 shares during the last quarter. Ballentine Partners LLC lifted its stake in Repligen by 6.2% during the 3rd quarter. Ballentine Partners LLC now owns 1,807 shares of the biotechnology company’s stock valued at $269,000 after acquiring an additional 105 shares during the period. Finally, CWM LLC grew its stake in shares of Repligen by 36.3% in the third quarter. CWM LLC now owns 428 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 114 shares during the period. 97.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on RGEN. Canaccord Genuity Group assumed coverage on shares of Repligen in a research report on Tuesday, December 17th. They issued a “hold” rating and a $165.00 target price for the company. StockNews.com upgraded Repligen from a “sell” rating to a “hold” rating in a research report on Friday. Wolfe Research began coverage on Repligen in a research report on Thursday, November 14th. They issued a “peer perform” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $205.00 price target on shares of Repligen in a research report on Thursday, September 26th. Finally, Canaccord Genuity Group started coverage on shares of Repligen in a report on Tuesday, December 17th. They issued a “hold” rating and a $165.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Repligen has an average rating of “Moderate Buy” and an average target price of $185.20.

Repligen Stock Performance

NASDAQ:RGEN opened at $149.90 on Friday. The stock has a 50-day moving average price of $144.96 and a 200 day moving average price of $142.20. The stock has a market capitalization of $8.40 billion, a P/E ratio of -405.12, a P/E/G ratio of 4.64 and a beta of 0.97. Repligen Co. has a 12-month low of $113.50 and a 12-month high of $211.13. The company has a current ratio of 10.44, a quick ratio of 8.76 and a debt-to-equity ratio of 0.26.

Repligen (NASDAQ:RGEN) last announced its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. Repligen had a negative net margin of 3.36% and a positive return on equity of 3.90%. The business had revenue of $154.87 million during the quarter, compared to analyst estimates of $153.34 million. During the same period last year, the firm posted $0.23 EPS. The company’s revenue was up 9.7% on a year-over-year basis. Equities research analysts forecast that Repligen Co. will post 1.54 EPS for the current fiscal year.

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.