Here Is What Hedge Funds Think About Repligen Corporation (RGEN)

We view hedge fund activity in the stock unfavorable, but in this case there was only a single hedge fund selling its entire position: Craig Drill Capital. One hedge fund selling its entire position doesn’t always imply a bearish intent. Theoretically a hedge fund may decide to sell a promising position in order to invest the proceeds in a more promising idea. However, we don’t think this is the case here because only one of the 700+ hedge funds tracked by Insider Monkey identified as a viable investment and initiated a position in the stock (that fund was “Gotham Asset Management).

Let’s go over hedge fund activity in other stocks similar to Repligen Corporation (NASDAQ:RGEN). We will take a look at Green Dot Corporation (NYSE:GDOT), Albany International Corp. (NYSE:AIN), PTC Therapeutics, Inc. (NASDAQ:PTCT), and Bristow Group Inc (NYSE:BRS). This group of stocks’ market valuations resembles Repligen Corporation (NASDAQ:RGEN)’s market valuation.

As you can see, these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $140 million. Repligen Corporation (NASDAQ:RGEN) saw smart money investors amass $65 million worth of stock at the end of the third quarter. PTC Therapeutics, Inc. (NASDAQ:PTCT) is the most popular stock in this table with 28 long positions, while Albany International Corp. (NYSE:AIN) is the least popular one. Repligen Corporation (NASDAQ: RGEN) is not the least popular stock in this group, but hedge fund interest is still below average. This does not imply that the stock is not a good long investment, but we prefer to spend our time researching stocks that hedge funds are piling on. For example, PTC Therapeutics, Inc. (NASDAQ:PTCT) might be a better candidate to consider a long position.