Drive Wealth Management LLC Makes New Investment in Repligen Corporation (NASDAQ:RGEN)

Key Points

• Drive Wealth Management LLC has invested approximately $471,000 in Repligen Corporation by purchasing 3,703 shares as reported in their recent Form 13F filing.
• A majority of the company's stock, approximately 97.64%, is owned by hedge funds and institutional investors, indicating strong institutional interest.
• Equities research analysts rate Repligen with an average of "Moderate Buy" and have a consensus target price of $169.92, reflecting positive growth expectations.

Drive Wealth Management LLC acquired a new stake in shares of Repligen Corporation (NASDAQ:RGEN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,703 shares of the biotechnology company's stock, valued at approximately $471,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Utah Retirement Systems increased its position in Repligen by 1.1% during the fourth quarter. Utah Retirement Systems now owns 9,294 shares of the biotechnology company's stock worth $1,338,000 after purchasing an additional 100 shares during the last quarter. State of Michigan Retirement System increased its position in Repligen by 0.8% during the first quarter. State of Michigan Retirement System now owns 12,453 shares of the biotechnology company's stock worth $1,585,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Repligen by 0.7% during the first quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the biotechnology company's stock worth $1,858,000 after purchasing an additional 100 shares during the last quarter. Peapack Gladstone Financial Corp increased its position in Repligen by 5.2% during the fourth quarter. Peapack Gladstone Financial Corp now owns 2,089 shares of the biotechnology company's stock worth $301,000 after purchasing an additional 103 shares during the last quarter. Finally, Signaturefd LLC increased its position in Repligen by 65.3% during the first quarter. Signaturefd LLC now owns 324 shares of the biotechnology company's stock worth $41,000 after purchasing an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Repligen from $180.00 to $175.00 and set an "overweight" rating for the company in a research report on Wednesday. Canaccord Genuity Group dropped their price objective on shares of Repligen from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. Stephens raised shares of Repligen to an "overweight" rating and set a $160.00 price objective for the company in a research report on Tuesday, July 22nd. Wall Street Zen lowered shares of Repligen from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Finally, Royal Bank Of Canada increased their price objective on shares of Repligen from $193.00 to $204.00 and gave the stock an "outperform" rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Repligen presently has an average rating of "Moderate Buy" and an average price target of $170.75.

Repligen Stock Performance

Shares of Repligen stock traded down $2.63 during trading hours on Wednesday, reaching $122.67. The company's stock had a trading volume of 471,603 shares, compared to its average volume of 772,573. The company's 50 day simple moving average is $123.41 and its 200 day simple moving average is $136.88. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.79 and a current ratio of 6.79. Repligen Corporation has a one year low of $102.96 and a one year high of $182.52. The stock has a market cap of $6.89 billion, a P/E ratio of -272.87, a price-to-earnings-growth ratio of 2.23 and a beta of 1.11.

Repligen (NASDAQ:RGEN - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The biotechnology company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.03). Repligen had a positive return on equity of 4.53% and a negative net margin of 3.93%. The business had revenue of $182.37 million during the quarter, compared to the consensus estimate of $174.62 million. During the same quarter in the previous year, the business posted $0.40 earnings per share. The company's quarterly revenue was up 14.8% compared to the same quarter last year. As a group, analysts expect that Repligen Corporation will post 1.72 EPS for the current fiscal year.

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.