Repligen (NASDAQ:RGEN) Shares Down 5.4% - Here's What Happened

Repligen Corporation (NASDAQ:RGEN - Get Free Report)'s share price fell 5.4% during trading on Monday . The stock traded as low as $122.30 and last traded at $123.15. 125,928 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 725,024 shares. The stock had previously closed at $130.19.

Wall Street Analyst Weigh In

Several research firms have commented on RGEN. JPMorgan Chase & Co. lowered their price objective on Repligen from $200.00 to $190.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 29th. Wall Street Zen downgraded Repligen from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. HC Wainwright reaffirmed a "buy" rating and set a $180.00 target price on shares of Repligen in a research note on Monday, May 5th. Canaccord Genuity Group reduced their price objective on Repligen from $170.00 to $150.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Finally, Royal Bank Of Canada reduced their price objective on Repligen from $202.00 to $189.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $170.75.

Repligen Stock Performance

The company has a market cap of $6.69 billion, a price-to-earnings ratio of -264.72, a price-to-earnings-growth ratio of 3.47 and a beta of 1.11. The company has a quick ratio of 5.79, a current ratio of 6.79 and a debt-to-equity ratio of 0.27. The firm has a 50-day simple moving average of $125.01 and a 200 day simple moving average of $138.97.

Repligen (NASDAQ:RGEN - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biotechnology company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.04. Repligen had a positive return on equity of 4.53% and a negative net margin of 3.93%. The firm had revenue of $169.17 million for the quarter, compared to the consensus estimate of $163.65 million. During the same period in the previous year, the business earned $0.28 earnings per share. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, sell-side analysts predict that Repligen Corporation will post 1.72 earnings per share for the current fiscal year.

Institutional Trading of Repligen

A number of institutional investors have recently bought and sold shares of RGEN. Signaturefd LLC boosted its position in Repligen by 172.2% during the fourth quarter. Signaturefd LLC now owns 196 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 124 shares in the last quarter. Sava Infond d.o.o. acquired a new position in Repligen in the fourth quarter valued at $29,000. Raiffeisen Bank International AG acquired a new position in Repligen in the fourth quarter valued at $29,000. Twin Tree Management LP acquired a new stake in Repligen during the first quarter worth about $29,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Repligen during the fourth quarter worth about $40,000. 97.64% of the stock is currently owned by hedge funds and other 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.