First Turn Management LLC Acquires New Position in Repligen Co. (NASDAQ:RGEN)

First Turn Management LLC purchased a new stake in shares of Repligen Co. (NASDAQ:RGEN) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 88,714 shares of the biotechnology company’s stock, valued at approximately $13,202,000. Repligen accounts for 2.1% of First Turn Management LLC’s holdings, making the stock its 29th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of RGEN. Russell Investments Group Ltd. grew its holdings in shares of Repligen by 5.2% during the first quarter. Russell Investments Group Ltd. now owns 35,134 shares of the biotechnology company’s stock worth $6,463,000 after purchasing an additional 1,746 shares in the last quarter. Vanguard Group Inc. raised its holdings in Repligen by 0.4% in the first quarter. Vanguard Group Inc. now owns 5,100,013 shares of the biotechnology company’s stock worth $937,994,000 after purchasing an additional 21,719 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Repligen by 6.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,924 shares of the biotechnology company’s stock worth $354,000 after purchasing an additional 125 shares in the last quarter. UniSuper Management Pty Ltd raised its holdings in Repligen by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the biotechnology company’s stock worth $147,000 after purchasing an additional 400 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Repligen by 1.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 38,559 shares of the biotechnology company’s stock worth $7,086,000 after acquiring an additional 567 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RGEN shares. StockNews.com raised Repligen from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Wolfe Research initiated coverage on Repligen in a research report on Thursday, November 14th. They issued a “peer perform” rating on the stock. Stephens reaffirmed an “overweight” rating and issued a $170.00 price objective on shares of Repligen in a research note on Tuesday, July 30th. 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 note on Wednesday, July 31st. Finally, UBS Group decreased their target price on Repligen from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.25.

Insider Activity

In other news, Director Anthony Hunt sold 22,191 shares of the stock in a transaction dated 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 directly owns 139,840 shares of the company’s stock, valued at approximately $20,328,540.80. This represents a 13.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Repligen Trading Down 1.1 %

RGEN opened at $123.41 on Tuesday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of -333.53, a PEG ratio of 3.75 and a beta of 0.96. The company has a current ratio of 6.65, a quick ratio of 5.56 and a debt-to-equity ratio of 0.26. Repligen Co. has a 12 month low of $113.50 and a 12 month high of $211.13. The stock has a fifty day moving average price of $141.09 and a 200-day moving average price of $144.24.

Repligen (NASDAQ:RGEN) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. Repligen had a positive return on equity of 3.92% and a negative net margin of 3.36%. The company had revenue of $154.87 million during the quarter, compared to analysts’ expectations of $153.34 million. During the same period last year, the business posted $0.23 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Repligen Co. will post 1.52 earnings per share for the current fiscal year.

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.