Repligen (NASDAQ:RGEN) Shares Gap Down – Here’s What Happened

Repligen Co. (NASDAQ:RGEN)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $149.21, but opened at $145.00. Repligen shares last traded at $148.09, with a volume of 203,613 shares changing hands.

Analysts Set New Price Targets

RGEN has been the topic of a number of research analyst reports. Wells Fargo & Company began coverage on Repligen in a research report on Tuesday, August 27th. They set an “overweight” rating and a $180.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $205.00 price target on shares of Repligen in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft raised Repligen from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $180.00 to $155.00 in a research note on Wednesday, June 26th. Stephens restated an “overweight” rating and set a $170.00 target price on shares of Repligen in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upped their price target on Repligen from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $190.25.

Repligen Stock Down 3.2 %

The firm has a market cap of $8.09 billion, a price-to-earnings ratio of -3,729.32, a P/E/G ratio of 4.24 and a beta of 0.95. The firm has a fifty day simple moving average of $145.11 and a 200-day simple moving average of $147.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.56 and a current ratio of 6.65.

Repligen (NASDAQ:RGEN) last released its quarterly earnings results on Tuesday, July 30th. The biotechnology company reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. The business had revenue of $154.07 million during the quarter, compared to analysts’ expectations of $154.11 million. Repligen had a positive return on equity of 3.36% and a negative net margin of 0.32%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.53 EPS. As a group, sell-side analysts expect that Repligen Co. will post 1.45 EPS for the current year.

Insider Activity at Repligen

In other Repligen news, Director Anthony Hunt sold 22,191 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $145.37, for a total value of $3,225,905.67. Following the transaction, the director now directly owns 139,840 shares of the company’s stock, valued at $20,328,540.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Ralf Kuriyel sold 4,465 shares of Repligen stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $165.67, for a total value of $739,716.55. Following the completion of the transaction, the vice president now directly owns 19,261 shares of the company’s stock, valued at approximately $3,190,969.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony Hunt sold 22,191 shares of the stock in a transaction that occurred 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 transaction, the director now owns 139,840 shares in the company, valued at $20,328,540.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Institutional Trading of Repligen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Andra AP fonden purchased a new position in Repligen during the second quarter worth about $25,000. Lazard Asset Management LLC increased its position in shares of Repligen by 206.1% during the first quarter. Lazard Asset Management LLC now owns 202 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 136 shares during the last quarter. UMB Bank n.a. boosted its position in Repligen by 138.3% in the third quarter. UMB Bank n.a. now owns 224 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 130 shares during the last quarter. Blue Trust Inc. increased its position in shares of Repligen by 113.4% during the 3rd quarter. Blue Trust Inc. now owns 239 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 127 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Repligen in the 2nd quarter worth about $33,000. 97.64% of the stock is owned by institutional investors.

About Repligen

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.