Granite Investment Partners LLC Decreases Stock Position in Repligen Co. (NASDAQ:RGEN)

Granite Investment Partners LLC lowered its holdings in shares of Repligen Co. (NASDAQ:RGEN) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,820 shares of the biotechnology company’s stock after selling 635 shares during the period. Granite Investment Partners LLC’s holdings in Repligen were worth $3,885,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank purchased a new stake in Repligen in the 4th quarter valued at approximately $48,208,000. Bank of New York Mellon Corp lifted its position in shares of Repligen by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 1,370,375 shares of the biotechnology company’s stock valued at $172,749,000 after acquiring an additional 237,884 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Repligen by 26.7% during the second quarter. Conestoga Capital Advisors LLC now owns 946,877 shares of the biotechnology company’s stock valued at $119,363,000 after acquiring an additional 199,322 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Repligen by 39.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 429,524 shares of the biotechnology company’s stock valued at $54,149,000 after purchasing an additional 121,305 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in Repligen by 448.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 112,863 shares of the biotechnology company’s stock valued at $20,293,000 after purchasing an additional 92,268 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RGEN shares. UBS Group cut their price objective 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. Wells Fargo & Company initiated coverage on Repligen in a report on Tuesday, August 27th. They set an “overweight” rating and a $180.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $190.00 price objective on shares of Repligen in a research note on Wednesday, July 31st. Benchmark reissued a “hold” rating on shares of Repligen in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Repligen from a “hold” rating to a “buy” rating and lowered their price target for the company from $180.00 to $155.00 in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Repligen has a consensus rating of “Moderate Buy” and a consensus price target of $188.38.

Repligen Stock Performance

Shares of Repligen stock opened at $142.97 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.56 and a current ratio of 6.65. Repligen Co. has a 1 year low of $110.45 and a 1 year high of $211.13. The firm’s 50-day simple moving average is $147.30 and its 200-day simple moving average is $155.51. The firm has a market cap of $7.99 billion, a PE ratio of 571.88, a price-to-earnings-growth ratio of 4.14 and a beta of 0.94.

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

Insiders Place Their Bets

In other news, VP Ralf Kuriyel sold 4,465 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $165.67, for a total value of $739,716.55. Following the transaction, the vice president now directly owns 19,261 shares in the company, valued at approximately $3,190,969.87. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Ralf Kuriyel sold 4,465 shares of the business’s 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 completion of the transaction, the vice president now owns 19,261 shares in the company, valued at approximately $3,190,969.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $3,225,905.67. Following the completion of the sale, the director now directly owns 139,840 shares in the company, valued at approximately $20,328,540.80. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

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.