Brown Capital Management LLC Reduces Position in Repligen Co. (NASDAQ:RGEN)

Brown Capital Management LLC trimmed its holdings in Repligen Co. (NASDAQ:RGEN) by 13.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,119,579 shares of the biotechnology company’s stock after selling 174,099 shares during the quarter. Repligen comprises approximately 3.6% of Brown Capital Management LLC’s portfolio, making the stock its 11th largest holding. Brown Capital Management LLC owned approximately 2.00% of Repligen worth $166,616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Swedbank AB purchased a new position in shares of Repligen during the 1st quarter worth $5,518,000. First Turn Management LLC purchased a new stake in shares of Repligen in the 3rd quarter valued at approximately $13,202,000. Banque Pictet & Cie SA increased its holdings in shares of Repligen by 74.6% during the 2nd quarter. Banque Pictet & Cie SA now owns 34,515 shares of the biotechnology company’s stock worth $4,351,000 after buying an additional 14,746 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Repligen by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 5,100,013 shares of the biotechnology company’s stock valued at $937,994,000 after buying an additional 21,719 shares during the period. Finally, Diversified Trust Co lifted its holdings in Repligen by 3.7% in the second quarter. Diversified Trust Co now owns 2,949 shares of the biotechnology company’s stock valued at $372,000 after acquiring an additional 106 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Repligen Price Performance

Shares of NASDAQ:RGEN opened at $138.90 on Thursday. The company’s 50 day moving average is $140.30 and its two-hundred day moving average is $143.67. Repligen Co. has a 52 week low of $113.50 and a 52 week high of $211.13. The company has a debt-to-equity ratio of 0.26, a current ratio of 10.44 and a quick ratio of 5.56.

Repligen (NASDAQ:RGEN) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. The company had revenue of $154.87 million for the quarter, compared to analysts’ expectations of $153.34 million. Repligen had a positive return on equity of 3.90% and a negative net margin of 3.36%. Repligen’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. On average, analysts expect that Repligen Co. will post 1.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RGEN. Wells Fargo & Company initiated coverage on Repligen in a report on Tuesday, August 27th. They set an “overweight” rating and a $180.00 price target for the company. Wolfe Research initiated coverage on shares of Repligen in a research note on Thursday, November 14th. They set a “peer perform” rating for the company. Stephens restated an “overweight” rating and issued a $170.00 price objective on shares of Repligen in a report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $205.00 target price on shares of Repligen in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. raised their price target on Repligen from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Repligen currently has an average rating of “Moderate Buy” and a consensus target price of $190.25.

Insider Buying and Selling at Repligen

In related news, Director Anthony Hunt sold 22,191 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 139,840 shares of the company’s stock, valued at $20,328,540.80. This represents a 13.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.

About Repligen

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.