Norges Bank Takes Position in Repligen Co. (NASDAQ:RGEN)

Norges Bank purchased a new position in shares of Repligen Co. (NASDAQ:RGEN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 166,975 shares of the biotechnology company’s stock, valued at approximately $24,034,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Signaturefd LLC increased its holdings in shares of Repligen by 172.2% during the fourth quarter. Signaturefd LLC now owns 196 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 124 shares during the period. Sava Infond d.o.o. acquired a new stake in Repligen during the fourth quarter worth approximately $29,000. Resources Management Corp CT ADV bought a new position in Repligen during the 3rd quarter worth $37,000. Quarry LP raised its holdings in Repligen by 796.7% in the 3rd quarter. Quarry LP now owns 269 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 239 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Repligen by 49.1% during the 4th quarter. UMB Bank n.a. now owns 334 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Insider Buying and Selling

In related news, Director Margaret Pax purchased 250 shares of Repligen stock in a transaction on Monday, March 17th. The shares were purchased at an average price of $150.69 per share, for a total transaction of $37,672.50. Following the transaction, the director now owns 1,043 shares of the company’s stock, valued at approximately $157,169.67. This represents a 31.53 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RGEN has been the topic of a number of recent analyst reports. TD Cowen assumed coverage on Repligen in a research report on Monday, February 10th. They issued a “buy” rating and a $200.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $180.00 target price on shares of Repligen in a report on Friday, February 21st. Canaccord Genuity Group assumed coverage on shares of Repligen in a report on Tuesday, December 17th. They set a “hold” rating and a $165.00 price target for the company. StockNews.com raised shares of Repligen from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Royal Bank of Canada upped their target price on Repligen from $203.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Seven research 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, Repligen presently has an average rating of “Moderate Buy” and a consensus price target of $178.64.

Repligen Stock Performance

Shares of RGEN stock opened at $111.94 on Monday. The business’s 50-day moving average price is $150.03 and its 200-day moving average price is $147.62. Repligen Co. has a 12 month low of $106.78 and a 12 month high of $182.52. The company has a current ratio of 10.44, a quick ratio of 8.76 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of -219.49, a PEG ratio of 4.54 and a beta of 1.27.

Repligen (NASDAQ:RGEN) last posted its earnings results on Thursday, February 20th. The biotechnology company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $167.55 million for the quarter, compared to analyst estimates of $167.58 million. Repligen had a negative net margin of 4.64% and a positive return on equity of 4.21%. Equities research analysts forecast that Repligen Co. will post 1.72 EPS for the current year.

Repligen Company 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.