Fred Alger Management LLC Trims Stock Position in Repligen Co. (NASDAQ:RGEN)

Fred Alger Management LLC lowered its stake in shares of Repligen Co. (NASDAQ:RGEN) by 27.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,723 shares of the biotechnology company’s stock after selling 118,569 shares during the quarter. Fred Alger Management LLC’s holdings in Repligen were worth $38,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RGEN. Cubist Systematic Strategies LLC boosted its holdings in shares of Repligen by 623.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,196 shares of the biotechnology company’s stock valued at $781,000 after buying an additional 5,339 shares in the last quarter. Marshall Wace LLP lifted its position in Repligen by 1.1% during the second quarter. Marshall Wace LLP now owns 364,551 shares of the biotechnology company’s stock valued at $45,955,000 after acquiring an additional 3,864 shares during the last quarter. Bank of Montreal Can boosted its stake in Repligen by 4.5% in the second quarter. Bank of Montreal Can now owns 36,752 shares of the biotechnology company’s stock valued at $4,641,000 after acquiring an additional 1,575 shares in the last quarter. Integral Health Asset Management LLC grew its holdings in Repligen by 20.0% in the second quarter. Integral Health Asset Management LLC now owns 60,000 shares of the biotechnology company’s stock worth $7,564,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Repligen by 240.5% during the second quarter. Thrivent Financial for Lutherans now owns 601,829 shares of the biotechnology company’s stock worth $75,866,000 after purchasing an additional 425,061 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Insider Activity at Repligen

In other Repligen news, VP Ralf Kuriyel sold 4,465 shares of the stock in a transaction that occurred 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 owns 19,261 shares in the company, valued at $3,190,969.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Anthony Hunt sold 22,191 shares of Repligen stock in a transaction on 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 sale, the director now owns 139,840 shares of the company’s stock, valued at approximately $20,328,540.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 owns 19,261 shares of the company’s stock, valued at $3,190,969.87. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Repligen Price Performance

Shares of NASDAQ RGEN opened at $142.85 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.65 and a quick ratio of 5.56. The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of 571.42, a PEG ratio of 4.16 and a beta of 0.94. The firm’s 50 day simple moving average is $147.82 and its 200-day simple moving average is $154.19. Repligen Co. has a 12 month low of $110.45 and a 12 month high of $211.13.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on RGEN shares. JPMorgan Chase & Co. raised their price objective on Repligen from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Stephens reiterated an “overweight” rating and issued a $170.00 target price on shares of Repligen in a research report on Tuesday, July 30th. UBS Group reduced their price target on shares of Repligen from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Benchmark reaffirmed a “hold” rating on shares of Repligen in a report on Monday, August 5th. Finally, Wells Fargo & Company began coverage on shares of Repligen in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $180.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $188.38.

Repligen 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.