Repligen (NASDAQ:RGEN) Shares Gap Up – Here’s Why

Shares of Repligen Co. (NASDAQ:RGEN) gapped up prior to trading on Tuesday . The stock had previously closed at $139.51, but opened at $147.50. Repligen shares last traded at $149.99, with a volume of 93,024 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RGEN shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $205.00 price objective on shares of Repligen in a research report on Thursday, September 26th. UBS Group decreased their price target on Repligen from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company started coverage on Repligen in a research report on Tuesday, August 27th. They set an “overweight” rating and a $180.00 price objective on the stock. Stephens restated an “overweight” rating and set a $170.00 price objective on shares of Repligen in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on Repligen from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Repligen presently has an average rating of “Moderate Buy” and a consensus price target of $190.25.

Repligen Stock Up 6.9 %

The company’s fifty day moving average price is $141.34 and its 200-day moving average price is $144.87. The stock has a market capitalization of $8.35 billion, a PE ratio of -3,751.75, a price-to-earnings-growth ratio of 4.04 and a beta of 0.96. The company has a quick ratio of 5.56, a current ratio of 6.65 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

In other news, Director Anthony Hunt sold 22,191 shares of the business’s stock in a transaction on 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 completion of the sale, the director now owns 139,840 shares of the company’s stock, valued at $20,328,540.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RGEN. Toronto Dominion Bank boosted its position in Repligen by 1.5% during the second quarter. Toronto Dominion Bank now owns 5,207 shares of the biotechnology company’s stock worth $656,000 after acquiring an additional 75 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Repligen by 1.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 7,839 shares of the biotechnology company’s stock valued at $982,000 after purchasing an additional 89 shares in the last quarter. Ballentine Partners LLC increased its holdings 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 in the last quarter. Diversified Trust Co grew its holdings in shares of Repligen by 3.7% during the second quarter. Diversified Trust Co now owns 2,949 shares of the biotechnology company’s stock worth $372,000 after buying an additional 106 shares in the last quarter. Finally, CWM LLC boosted its position 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 last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

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.