State of Michigan Retirement System Has $2.35 Million Stock Position in Repligen Co. (NASDAQ:RGEN)

State of Michigan Retirement System lifted its position in Repligen Co. (NASDAQ:RGEN) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,753 shares of the biotechnology company’s stock after buying an additional 300 shares during the quarter. State of Michigan Retirement System’s holdings in Repligen were worth $2,346,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Retirement Systems of Alabama lifted its stake in shares of Repligen by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 65,032 shares of the biotechnology company’s stock worth $11,693,000 after buying an additional 288 shares during the last quarter. Evoke Wealth LLC acquired a new stake in shares of Repligen in the fourth quarter worth $1,955,000. International Assets Investment Management LLC lifted its stake in shares of Repligen by 18,449.1% in the fourth quarter. International Assets Investment Management LLC now owns 58,615 shares of the biotechnology company’s stock worth $10,539,000 after buying an additional 58,299 shares during the last quarter. Artemis Investment Management LLP lifted its stake in shares of Repligen by 33.8% in the first quarter. Artemis Investment Management LLP now owns 167,813 shares of the biotechnology company’s stock worth $30,852,000 after buying an additional 42,380 shares during the last quarter. Finally, Congress Asset Management Co. MA raised its stake in Repligen by 14.6% during the 1st quarter. Congress Asset Management Co. MA now owns 88,013 shares of the biotechnology company’s stock valued at $16,187,000 after purchasing an additional 11,213 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Repligen

In other news, CEO Anthony Hunt bought 2,000 shares of the stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $124.08 per share, with a total value of $248,160.00. Following the acquisition, the chief executive officer now owns 165,177 shares in the company, valued at $20,495,162.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Anthony Hunt bought 2,000 shares of the stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $124.08 per share, with a total value of $248,160.00. Following the acquisition, the chief executive officer now owns 165,177 shares in the company, valued at $20,495,162.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Martin D. Madaus acquired 1,615 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were bought at an average cost of $124.94 per share, for a total transaction of $201,778.10. Following the acquisition, the director now owns 4,613 shares in the company, valued at $576,348.22. The disclosure for this purchase can be found here. 1.20% of the stock is owned by insiders.

Repligen Trading Up 0.5 %

Shares of RGEN stock opened at $120.77 on Thursday. Repligen Co. has a 52-week low of $110.45 and a 52-week high of $211.13. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 483.10, a P/E/G ratio of 4.02 and a beta of 0.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.24 and a current ratio of 6.35. The firm has a fifty day moving average of $149.06 and a 200-day moving average of $172.73.

Repligen (NASDAQ:RGEN) last posted its earnings results on Wednesday, May 1st. The biotechnology company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). Repligen had a return on equity of 3.95% and a net margin of 2.44%. The firm had revenue of $151.31 million during the quarter, compared to the consensus estimate of $150.06 million. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. On average, equities research analysts forecast that Repligen Co. will post 1.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Repligen from a “hold” rating to a “buy” rating and cut their target price for the company from $180.00 to $155.00 in a research note on Wednesday, June 26th. JPMorgan Chase & Co. cut their target price on shares of Repligen from $230.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, Guggenheim assumed coverage on shares of Repligen in a research note on Tuesday, June 18th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Repligen currently has an average rating of “Moderate Buy” and an average target price of $193.00.

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.