Principal Financial Group Inc. Raises Holdings in Repligen Co. (NASDAQ:RGEN)

Principal Financial Group Inc. grew its stake in Repligen Co. (NASDAQ:RGEN - Free Report) by 36.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 262,708 shares of the biotechnology company's stock after acquiring an additional 70,033 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Repligen worth $47,235,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. abrdn plc lifted its holdings in shares of Repligen by 1.4% in the fourth quarter. abrdn plc now owns 5,192 shares of the biotechnology company's stock valued at $934,000 after purchasing an additional 71 shares in the last quarter. Signaturefd LLC increased its position in shares of Repligen by 44.1% in the third quarter. Signaturefd LLC now owns 281 shares of the biotechnology company's stock valued at $45,000 after acquiring an additional 86 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Repligen by 3.2% in the third quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the biotechnology company's stock valued at $509,000 after purchasing an additional 100 shares in the last quarter. State of Michigan Retirement System boosted its holdings in shares of Repligen by 0.8% in the 4th quarter. State of Michigan Retirement System now owns 12,453 shares of the biotechnology company's stock valued at $2,239,000 after buying an additional 100 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of Repligen by 2.5% in the third quarter. Teacher Retirement System of Texas now owns 4,098 shares of the biotechnology company's stock valued at $652,000 after buying an additional 101 shares in the last quarter. Institutional investors own 97.64% of the company's stock.

Analysts Set New Price Targets

RGEN has been the topic of several recent analyst reports. KeyCorp boosted their price objective on shares of Repligen from $210.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. decreased their target price on Repligen from $230.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, May 2nd. Finally, Stifel Nicolaus increased their price objective on shares of Repligen from $165.00 to $207.00 and gave the company a "buy" rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $197.75.

Repligen Stock Down 2.8 %

NASDAQ:RGEN traded down $5.00 during trading hours on Thursday, reaching $171.03. The company had a trading volume of 430,952 shares, compared to its average volume of 531,031. Repligen Co. has a twelve month low of $110.45 and a twelve month high of $211.13. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 684.15, a P/E/G ratio of 5.46 and a beta of 1.03. The business's 50-day simple moving average is $176.65 and its two-hundred day simple moving average is $175.91. The company has a quick ratio of 5.24, a current ratio of 6.35 and a debt-to-equity ratio of 0.26.

Repligen (NASDAQ:RGEN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.01). Repligen had a net margin of 2.44% and a return on equity of 3.95%. The business had revenue of $151.31 million for the quarter, compared to analyst estimates of $150.06 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm's quarterly revenue was down 17.1% compared to the same quarter last year. On average, equities analysts expect that Repligen Co. will post 1.46 earnings per share for the current year.

Insider Activity

In related news, COO James Bylund sold 4,373 shares of Repligen stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $198.08, for a total value of $866,203.84. Following the completion of the transaction, the chief operating officer now directly owns 14,135 shares in the company, valued at approximately $2,799,860.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO James Bylund sold 4,373 shares of Repligen stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $198.08, for a total transaction of $866,203.84. Following the completion of the sale, the chief operating officer now owns 14,135 shares of the company's stock, valued at $2,799,860.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony Hunt sold 16,707 shares of the business's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $197.44, for a total transaction of $3,298,630.08. Following the completion of the transaction, the chief executive officer now directly owns 185,249 shares of the company's stock, valued at approximately $36,575,562.56. The disclosure for this sale can be found here. Insiders sold a total of 25,597 shares of company stock valued at $5,039,532 in the last ninety days. 1.20% of the stock is currently owned by insiders.

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.