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

Repligen Co. (NASDAQ:RGEN - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $152.81, but opened at $144.61. Repligen shares last traded at $144.27, with a volume of 140,346 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RGEN. Canaccord Genuity Group began coverage on shares of Repligen in a research report on Tuesday, December 17th. They issued a "hold" rating and a $165.00 price target on the stock. Royal Bank of Canada increased their price target on shares of Repligen from $203.00 to $205.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Canaccord Genuity Group increased their price target on shares of Repligen from $165.00 to $170.00 and gave the company a "hold" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. increased their price target on shares of Repligen from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, TD Cowen started coverage on shares of Repligen in a research report on Monday, February 10th. They issued a "buy" rating and a $200.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $178.64.

Repligen Trading Up 0.5 %

The business's 50 day simple moving average is $156.18 and its 200 day simple moving average is $148.37. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of -274.55, a PEG ratio of 4.54 and a beta of 0.95. The company has a quick ratio of 8.76, a current ratio of 10.44 and a debt-to-equity ratio of 0.26.

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Repligen (NASDAQ:RGEN - Get Free Report) last issued its earnings results on Thursday, February 20th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. Repligen had a negative net margin of 4.64% and a positive return on equity of 4.21%. The business had revenue of $167.55 million during the quarter, compared to the consensus estimate of $167.58 million. On average, research analysts expect that Repligen Co. will post 1.72 EPS for the current fiscal year.

Insider Buying and Selling at Repligen

In other Repligen news, Director Margaret Pax bought 250 shares of the stock in a transaction dated Monday, March 17th. The shares were bought at an average cost of $150.69 per share, with a total value of $37,672.50. Following the completion of the acquisition, the director now owns 1,043 shares of the company's stock, valued at $157,169.67. This trade represents a 31.53 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC increased its stake in Repligen by 172.2% in the fourth quarter. Signaturefd LLC now owns 196 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 124 shares during the last quarter. Sava Infond d.o.o. bought a new position in Repligen in the fourth quarter valued at approximately $29,000. Raiffeisen Bank International AG bought a new position in Repligen in the fourth quarter valued at approximately $29,000. Resources Management Corp CT ADV acquired a new stake in Repligen in the third quarter valued at approximately $37,000. Finally, Quarry LP boosted its position in Repligen by 796.7% in the third quarter. Quarry LP now owns 269 shares of the biotechnology company's stock valued at $40,000 after buying an additional 239 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

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.