State of Michigan Retirement System Cuts Holdings in Repligen Co. (NASDAQ:RGEN)

State of Michigan Retirement System decreased its position in Repligen Co. (NASDAQ:RGEN) by 1.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,553 shares of the biotechnology company’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in Repligen were worth $1,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RGEN. YHB Investment Advisors Inc. acquired a new stake in shares of Repligen in the first quarter valued at about $26,000. Lazard Asset Management LLC grew its position in shares of Repligen by 206.1% in the first quarter. Lazard Asset Management LLC now owns 202 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 136 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of Repligen by 152.1% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 242 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 146 shares during the period. Principal Securities Inc. acquired a new stake in shares of Repligen in the fourth quarter valued at about $48,000. Finally, GAMMA Investing LLC grew its position in shares of Repligen by 183.4% in the second quarter. GAMMA Investing LLC now owns 479 shares of the biotechnology company’s stock valued at $60,000 after purchasing an additional 310 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Insider Activity

In other news, VP Ralf Kuriyel sold 4,465 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $165.67, for a total value of $739,716.55. Following the sale, the vice president now directly owns 19,261 shares of the company’s stock, valued at approximately $3,190,969.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Martin D. Madaus purchased 1,615 shares of Repligen stock in a transaction dated Friday, June 14th. The shares were acquired at an average cost of $124.94 per share, with a total value of $201,778.10. Following the purchase, the director now owns 4,613 shares of the company’s stock, valued at $576,348.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Ralf Kuriyel sold 4,465 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $165.67, for a total transaction of $739,716.55. Following the completion of the sale, the vice president now directly owns 19,261 shares in the company, valued at $3,190,969.87. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RGEN shares. Stephens reiterated an “overweight” rating and issued a $170.00 target price on shares of Repligen in a research report on Tuesday, July 30th. Wells Fargo & Company began coverage on shares of Repligen in a research report on Tuesday. They set an “overweight” rating and a $180.00 price target on the stock. Benchmark restated a “hold” rating on shares of Repligen in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Repligen from a “hold” rating to a “buy” rating and lowered their price target for the stock from $180.00 to $155.00 in a research report on Wednesday, June 26th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $190.00 price target on shares of Repligen in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Repligen has a consensus rating of “Moderate Buy” and a consensus target price of $188.38.

Repligen Stock Performance

NASDAQ:RGEN opened at $145.43 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.65 and a quick ratio of 5.56. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 581.72, a PEG ratio of 5.27 and a beta of 0.95. The company’s 50-day moving average is $140.02 and its two-hundred day moving average is $161.68. Repligen Co. has a 1-year low of $110.45 and a 1-year high of $211.13.

Repligen (NASDAQ:RGEN) last posted its earnings results on Tuesday, July 30th. The biotechnology company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. The company had revenue of $154.07 million for the quarter, compared to analyst estimates of $154.11 million. Repligen had a negative net margin of 0.32% and a positive return on equity of 3.36%. Repligen’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. Analysts forecast that Repligen Co. will post 1.45 EPS for the current year.

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.