Repligen (NASDAQ:RGEN) Shares Gap Down - Here's Why

Repligen Co. (NASDAQ:RGEN - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $149.21, but opened at $145.00. Repligen shares last traded at $148.09, with a volume of 203,613 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on RGEN shares. Deutsche Bank Aktiengesellschaft raised 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. Benchmark reaffirmed a "hold" rating on shares of Repligen in a research note on Monday, August 5th. Wells Fargo & Company started coverage on Repligen in a research note on Tuesday, August 27th. They set an "overweight" rating and a $180.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Repligen from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Finally, UBS Group lowered their price target on Repligen from $205.00 to $185.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Repligen presently has an average rating of "Moderate Buy" and an average target price of $190.25.

Repligen Stock Down 3.4 %

The company has a current ratio of 6.65, a quick ratio of 5.56 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of -3,602.60, a PEG ratio of 4.24 and a beta of 0.95. The stock has a fifty day moving average of $144.70 and a 200-day moving average of $147.71.

Repligen (NASDAQ:RGEN - Get Free Report) last issued its earnings results on Tuesday, July 30th. The biotechnology company reported $0.33 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.33. The business had revenue of $154.07 million for the quarter, compared to analysts' expectations of $154.11 million. Repligen had a positive return on equity of 3.36% and a negative net margin of 0.32%. The company's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. As a group, sell-side analysts expect that Repligen Co. will post 1.45 EPS for the current year.

Insider Activity

In other news, VP Ralf Kuriyel sold 4,465 shares of Repligen stock in a transaction 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 transaction, the vice president now owns 19,261 shares in the company, valued at approximately $3,190,969.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Anthony Hunt sold 22,191 shares of Repligen stock in a transaction on 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 owns 139,840 shares of the company's stock, valued at approximately $20,328,540.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ralf Kuriyel sold 4,465 shares of Repligen stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $165.67, for a total value of $739,716.55. Following the sale, the vice president now directly owns 19,261 shares of the company's stock, valued at approximately $3,190,969.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Repligen

Institutional investors have recently bought and sold shares of the company. Andra AP fonden acquired a new stake in Repligen during the second quarter valued at $25,000. International Assets Investment Management LLC acquired a new stake in shares of Repligen in the second quarter worth about $33,000. UMB Bank n.a. lifted its position in shares of Repligen by 138.3% in the third quarter. UMB Bank n.a. now owns 224 shares of the biotechnology company's stock worth $33,000 after buying an additional 130 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Repligen by 206.1% in the first quarter. Lazard Asset Management LLC now owns 202 shares of the biotechnology company's stock worth $36,000 after buying an additional 136 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Repligen by 113.4% in 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 during the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

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.