According to an SEC filing, Anthony Hunt, the Director and CEO of Repligen Corporation (NASDAQ: RGEN), lapped up 5,000 shares of the global life sciences company at $33.87 per share and 15,154 shares at $32.4 per share on July 21. He cumulatively bought RGEN shares worth $660,340 last week.
However, on the same day, he sold 24,802 shares of Repligen at $200 per share for a total of $4.96 million. This attracted investors’ attention and shares of RGEN slipped 0.9% on July 22 to close at $201.74.
According to TipRanks, which also provides a comprehensive list of daily insider transactions, various corporate insiders have bought and sold RGEN stock in the last couple of months. Out of these transactions, a few uninformative Sells have been recorded by TipRanks. A pictorial representation of these transactions is provided below:
Insider Confidence Signal Is Positive on RGEN Stock
TipRanks’ Insider Trading Activity tool shows that insiders are currently Positive on the stock, as corporate insiders have bought RGEN stock worth $660,300 in the last three months.
Interestingly, TipRanks also provides a list of hot stocks that boasts of either a Very Positive or Positive insider confidence signal.
Street Has a Strong Buy Rating on RGEN
Overall, the Street is optimistic about the stock and has a Strong Buy consensus rating based on four Buys and one Hold. Repligen Corporation’s average price target of $224.40 signals that the stock may surge nearly 11.2% from current levels.
Further, Repligen scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform the market.
TipRanks data shows that hedge funds are Very Positive about the company, as they bought 247,000 shares of RGEN stock in the last quarter.
Key Takeaway for RGEN Investors
As of now, corporate insiders are seen taking advantage of the company’s weak stock price, which has fallen 21.8% so far this year. However, the recent insider activity has given mixed signals for the stock, which has upside potential of over 11%.
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