Parnassus Investments LLC Lowers Holdings in Repligen Co. (NASDAQ:RGEN)

Parnassus Investments LLC lowered its position in shares of Repligen Co. (NASDAQ:RGEN) by 1.8% in the third quarter, Holdings Channel reports. The institutional investor owned 381,471 shares of the biotechnology company’s stock after selling 7,060 shares during the period. Parnassus Investments LLC’s holdings in Repligen were worth $56,771,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in RGEN. Andra AP fonden purchased a new stake in shares of Repligen during the 2nd quarter worth $25,000. Lazard Asset Management LLC grew its holdings in Repligen by 206.1% during the 1st quarter. Lazard Asset Management LLC now owns 202 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 136 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Repligen by 138.3% during the third quarter. UMB Bank n.a. now owns 224 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 130 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Repligen by 113.4% during the third quarter. Blue Trust Inc. now owns 239 shares of the biotechnology company’s stock worth $36,000 after buying an additional 127 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Repligen in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Insider Activity

In related news, Director Anthony Hunt sold 22,191 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 139,840 shares in the company, valued at $20,328,540.80. This represents a 13.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wolfe Research began coverage on shares of Repligen in a research report on Thursday, November 14th. They set a “peer perform” rating for the company. Stephens restated an “overweight” rating and set a $170.00 price objective on shares of Repligen in a research note on Tuesday, July 30th. StockNews.com raised shares of Repligen from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Wells Fargo & Company initiated coverage on shares of Repligen in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $180.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Repligen from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $190.25.

Repligen Stock Down 1.1 %

RGEN stock opened at $123.41 on Tuesday. Repligen Co. has a twelve month low of $113.50 and a twelve month high of $211.13. The company has a quick ratio of 5.56, a current ratio of 6.65 and a debt-to-equity ratio of 0.26. The company has a market cap of $6.91 billion, a PE ratio of -333.53, a price-to-earnings-growth ratio of 3.75 and a beta of 0.96. The business’s 50-day simple moving average is $141.09 and its 200 day simple moving average is $144.24.

Repligen (NASDAQ:RGEN) last issued its earnings results on Tuesday, November 12th. The biotechnology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.09. The business had revenue of $154.87 million for the quarter, compared to analyst estimates of $153.34 million. Repligen had a negative net margin of 3.36% and a positive return on equity of 3.92%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 EPS. On average, research analysts anticipate that Repligen Co. will post 1.52 earnings per share for the current year.

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.