Thrivent Financial for Lutherans has increased its holdings in Repligen Corporation, a biotechnology firm, by 6.7% in the third quarter of 2023. According to a recent filing with the Securities and Exchange Commission, the financial services organization now owns 458,820 shares of Repligen, valued at approximately $61,331,000 at the end of the reporting period. This acquisition included an additional 28,716 shares during the quarter.
Other institutional investors have also adjusted their stakes in Repligen. Wealth Enhancement Advisory Services LLC raised its position by 1.9%, owning 4,001 shares worth $584,000 after purchasing 75 shares in the last quarter. Similarly, DekaBank Deutsche Girozentrale increased its holdings by 1.0%, now possessing 7,830 shares valued at $961,000. Drive Wealth Management LLC and Hilltop National Bank also expanded their shares by 2.5% and 8.0% respectively, with holdings valued at $472,000 and $171,000.
As of now, institutional investors and hedge funds own 97.64% of Repligen’s stock, indicating strong confidence in the company’s future prospects.
Repligen’s Stock Performance and Analyst Ratings
Repligen’s share price opened at $149.37 on the latest trading day. The company boasts a market capitalization of $8.41 billion and has a price-to-earnings (PE) ratio of 7,472.24, alongside a price-to-earnings-growth ratio of 2.71. Over the past year, Repligen’s stock has fluctuated between a low of $102.96 and a high of $175.77.
The stock has exhibited strong momentum, with a current ratio of 8.36 and a quick ratio of 7.14, reflecting solid liquidity. Additionally, Repligen maintains a debt-to-equity ratio of 0.26, indicating a prudent capital structure. Analysts have noted a positive trend, with a 50-day moving average price of $164.37 and a 200-day moving average price of $144.24.
Recent analyst reports have further bolstered investor sentiment. Barclays raised its price target for Repligen from $175.00 to $200.00 and assigned an “overweight” rating. Similarly, Wells Fargo & Company increased its target from $175.00 to $190.00, also giving it an “overweight” rating. Other firms like Evercore ISI and Jefferies Financial Group have set targets of $175.00 and $160.00 respectively, with various ratings reflecting a consensus of strong potential.
About Repligen Corporation
Repligen Corporation, headquartered in Waltham, Massachusetts, specializes in high-value consumable products for bioprocessing applications. Founded in 1981, the company develops technologies that support the production of biopharmaceuticals. Its product offerings include chromatography resins, filtration membranes, and single-use technologies, primarily focusing on downstream purification and upstream processing.
Repligen’s core product lines feature Protein A affinity resins, designed for monoclonal antibody purification, along with a diverse range of ion exchange and multimodal resins. As the demand for biopharmaceuticals continues to rise, Repligen is well-positioned to capitalize on the growing market.
For those interested in tracking Repligen’s performance, further information is available through various financial news outlets, including MarketBeat.com, which provides updates on insider trades and analyst ratings.
