Parnassus Investments LLC Sells 7,060 Shares of Repligen Co. (NASDAQ:RGEN)

Parnassus Investments LLC decreased its stake in Repligen Co. (NASDAQ:RGEN) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 381,471 shares of the biotechnology company’s stock after selling 7,060 shares during the quarter. Parnassus Investments LLC owned approximately 0.68% of Repligen worth $56,771,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RGEN. Vanguard Group Inc. boosted its position in shares of Repligen by 0.4% in the first quarter. Vanguard Group Inc. now owns 5,100,013 shares of the biotechnology company’s stock worth $937,994,000 after purchasing an additional 21,719 shares during the period. Bank of New York Mellon Corp boosted its holdings in Repligen by 21.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,370,375 shares of the biotechnology company’s stock worth $172,749,000 after buying an additional 237,884 shares during the period. Conestoga Capital Advisors LLC increased its stake in Repligen by 26.7% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 946,877 shares of the biotechnology company’s stock worth $119,363,000 after buying an additional 199,322 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Repligen by 6.1% during the third quarter. Thrivent Financial for Lutherans now owns 638,602 shares of the biotechnology company’s stock valued at $95,037,000 after acquiring an additional 36,773 shares during the period. Finally, New York State Common Retirement Fund lifted its position in shares of Repligen by 14.4% in the third quarter. New York State Common Retirement Fund now owns 567,044 shares of the biotechnology company’s stock valued at $84,387,000 after acquiring an additional 71,274 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Insiders Place Their Bets

In related news, Director Anthony Hunt sold 22,191 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $145.37, for a total value of $3,225,905.67. Following the transaction, the director now owns 139,840 shares of the company’s stock, valued at $20,328,540.80. This represents a 13.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

Repligen Stock Performance

NASDAQ:RGEN opened at $123.41 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.56 and a current ratio of 6.65. The stock has a market capitalization of $6.91 billion, a P/E ratio of -333.53, a PEG ratio of 3.75 and a beta of 0.96. Repligen Co. has a fifty-two week low of $113.50 and a fifty-two week high of $211.13. The company has a 50 day moving average price of $141.09 and a 200 day moving average price of $144.24.

Repligen (NASDAQ:RGEN) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.34 by $0.09. The business had revenue of $154.87 million during the quarter, compared to the consensus estimate of $153.34 million. Repligen had a negative net margin of 3.36% and a positive return on equity of 3.92%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Equities research analysts forecast that Repligen Co. will post 1.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RGEN shares. JPMorgan Chase & Co. boosted their target price on Repligen from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company began coverage on shares of Repligen in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $180.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $205.00 target price on shares of Repligen in a research report on Thursday, September 26th. Wolfe Research started coverage on Repligen in a report on Thursday, November 14th. They issued a “peer perform” rating for the company. Finally, StockNews.com upgraded shares of Repligen from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $190.25.

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.