Parnassus Investments LLC Sells 111,611 Shares of Repligen Corporation $RGEN

Key Points

• Parnassus Investments LLC reduced its holdings in Repligen Corporation by 30.5%, selling 111,611 shares during the first quarter, leaving them with approximately 254,621 shares valued at $32.4 million.
• Several institutional investors, including Price T Rowe Associates and Conestoga Capital Advisors, have increased their stakes in Repligen, reflecting strong institutional interest in the stock.
• Shares of Repligen traded at $122.17, with a market cap of $6.87 billion, and the company reported a 14.8% increase in revenue year-on-year, despite missing earnings expectations by $0.03.

Parnassus Investments LLC decreased its position in shares of Repligen Corporation (NASDAQ:RGEN - Free Report) by 30.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 254,621 shares of the biotechnology company's stock after selling 111,611 shares during the period. Parnassus Investments LLC owned approximately 0.45% of Repligen worth $32,398,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Raiffeisen Bank International AG purchased a new position in shares of Repligen during the 4th quarter valued at about $29,000. Itau Unibanco Holding S.A. bought a new stake in shares of Repligen in the 4th quarter worth approximately $40,000. Signaturefd LLC boosted its stake in shares of Repligen by 65.3% in the 1st quarter. Signaturefd LLC now owns 324 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 128 shares in the last quarter. Center for Financial Planning Inc. grew its holdings in shares of Repligen by 110.3% during the 1st quarter. Center for Financial Planning Inc. now owns 368 shares of the biotechnology company's stock valued at $47,000 after purchasing an additional 193 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Repligen by 99.4% during the 1st quarter. UMB Bank n.a. now owns 666 shares of the biotechnology company's stock valued at $85,000 after purchasing an additional 332 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Repligen Stock Down 1.4%

Shares of NASDAQ RGEN traded down $1.70 during mid-day trading on Tuesday, hitting $120.62. 412,293 shares of the stock traded hands, compared to its average volume of 773,281. The company has a market cap of $6.79 billion, a price-to-earnings ratio of -482.46, a PEG ratio of 2.25 and a beta of 1.07. The stock has a fifty day moving average price of $121.79 and a 200-day moving average price of $129.92. Repligen Corporation has a 52 week low of $102.96 and a 52 week high of $182.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.32 and a current ratio of 8.59.

Repligen (NASDAQ:RGEN - Get Free Report) last released its earnings results on Tuesday, July 29th. The biotechnology company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). The business had revenue of $182.37 million for the quarter, compared to analysts' expectations of $174.62 million. Repligen had a negative net margin of 2.05% and a positive return on equity of 4.61%. Repligen's revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. Repligen has set its FY 2025 guidance at 1.650-1.720 EPS. Research analysts anticipate that Repligen Corporation will post 1.72 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Evercore ISI lowered their price target on shares of Repligen from $140.00 to $130.00 and set an "in-line" rating for the company in a research note on Tuesday, July 8th. Stephens upgraded Repligen to an "overweight" rating and set a $160.00 target price for the company in a report on Tuesday, July 22nd. Barclays initiated coverage on Repligen in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $150.00 price target on the stock. Wall Street Zen downgraded shares of Repligen from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Finally, HC Wainwright reissued a "buy" rating and set a $180.00 price target on shares of Repligen in a research report on Monday, May 5th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Repligen has a consensus rating of "Moderate Buy" and an average target price of $169.45.

Insider Activity at Repligen

In related news, Director Martin D. Madaus acquired 1,800 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was purchased at an average cost of $112.13 per share, with a total value of $201,834.00. Following the completion of the acquisition, the director directly owned 1,800 shares of the company's stock, valued at approximately $201,834. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.20% of the company's stock.

Repligen 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.