REPLIGEN CORP
RGEN · Biological Products, (No Diagnostic Substances) · 56.4M shares · +3%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$11M (gross $14M, SBC $26M)
Reference price $145.00 · est. market cap ~$8.2B — last insider sale, 2026-06-25 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B70High-quality bioprocessing-tools franchise in a post-COVID destock year — weak earnings but strong FCF and balance sheet.
Strengths
- Strong free cash flow, cash-rich — FCF $94M (92nd), current ratio 8.4 (74th)
- Asset returns hold up — ROA 2% (85th)
Risks
- Weak earnings this year — net income -292% — post-COVID destocking
- Bioprocessing-demand cyclicality — per 10-K
- Premium valuation — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~10% of revenue from one customer/distributor — Although we do not currently have any customers that represent more than 10% of our consolidated revenues, the loss of, or a significant reduction in orders from, any of our large customers, including
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, Bridgewater Associates, LP
- Strong balance sheetStrong balance sheet — $768M cash & investments
- Notable holderHeld by 4 notable fund(s): FMR LLC, STATE STREET CORP, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)
- Insider sellingInsider selling — 2 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$642,765, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
2.3%
Return on assets
1.7%
ROIC
1.6%
Revenue growth (QoQ)
7.7%
Debt / equity
0.3×
Net debt / EBITDA
-1.7×
Current ratio
8.4×
Free cash flow
$94M
EBITDA
$134M
Tangible book value
$606M
Cash & investments
$768M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-25 | Garland Jason K | Sell | 733 | $145.00 |
| 2026-05-14 | Madaus Martin D | Grant | 995 | — |
| 2026-05-14 | Konstantinov Konstantin | Grant | 995 | — |
| 2026-05-14 | EGLINTON MANNER CARRIE | Grant | 995 | — |
| 2026-05-14 | Pax Margaret | Grant | 995 | — |
| 2026-05-14 | DAWES KAREN A | Grant | 995 | — |
| 2026-05-14 | BARTHELEMY NICOLAS | Grant | 995 | — |
| 2026-05-14 | Mhatre Rohin | Grant | 995 | — |
| 2026-05-14 | MUIR GLENN P | Grant | 995 | — |
| 2026-05-07 | Douglass Brian Robb | Tax withheld | 334 | $126.43 |
| 2026-05-07 | MUIR GLENN P | Option exercise | 2.4K | $38.76 |
| 2026-04-21 | Loeillot Olivier | Sell | 3.8K | $140.00 |
| 2026-03-05 | Bylund James | Grant | 7.8K | — |
| 2026-03-05 | KURIYEL RALF | Grant | 5.3K | — |
| 2026-03-05 | Loeillot Olivier | Grant | 24K | — |
| 2026-03-05 | Garland Jason K | Grant | 7.8K | — |
| 2026-03-04 | Bylund James | Tax withheld | 62 | $125.84 |
| 2026-03-04 | KURIYEL RALF | Grant | 125 | — |
| 2026-03-04 | KURIYEL RALF | Tax withheld | 42 | $125.84 |
| 2026-03-04 | Bylund James | Grant | 125 | — |
| 2026-03-02 | Bylund James | Tax withheld | 2.4K | $124.97 |
| 2026-03-02 | Douglass Brian Robb | Tax withheld | 221 | $124.97 |
| 2026-03-02 | Loeillot Olivier | Tax withheld | 1.6K | $124.97 |
| 2026-03-02 | Hunt Anthony | Tax withheld | 9.9K | $124.97 |
| 2026-03-02 | KURIYEL RALF | Tax withheld | 923 | $124.97 |
| 2026-03-02 | Garland Jason K | Tax withheld | 715 | $124.97 |
| 2026-02-27 | KURIYEL RALF | Tax withheld | 444 | $128.73 |
| 2026-02-27 | Bylund James | Tax withheld | 1.5K | $128.73 |
| 2026-02-27 | Loeillot Olivier | Tax withheld | 344 | $128.73 |
| 2026-02-27 | Garland Jason K | Tax withheld | 327 | $128.73 |
| 2025-12-31 | Douglass Brian Robb | Grant | 2.3K | — |
| 2025-12-17 | DAWES KAREN A | Sell | 275 | $161.00 |
| 2025-12-16 | MUIR GLENN P | Option exercise | 3.4K | $26.12 |
| 2025-12-04 | Hunt Anthony | Other | 2.0K | — |
| 2025-11-25 | Loeillot Olivier | Sell | 7.0K | $170.00 |
| 2025-11-18 | Bylund James | Sell | 2.2K | $151.21 |
| 2025-11-13 | Hunt Anthony | Sell | 2.1K | $152.17 |
| 2025-11-13 | Hunt Anthony | Sell | 2.9K | $153.14 |
| 2025-11-13 | Hunt Anthony | Sell | 2.5K | $154.32 |
| 2025-11-13 | Hunt Anthony | Sell | 3.0K | $155.45 |
| 2025-11-13 | Hunt Anthony | Sell | 5.7K | $156.22 |
| 2025-11-13 | Hunt Anthony | Sell | 2.0K | $157.11 |
| 2025-11-13 | Hunt Anthony | Option exercise | 3.0K | $33.87 |
| 2025-11-13 | Hunt Anthony | Sell | 1.8K | $151.01 |
| 2025-11-12 | Hunt Anthony | Option exercise | 25K | $33.87 |
| 2025-11-12 | Hunt Anthony | Sell | 4.7K | $155.85 |
| 2025-11-12 | Hunt Anthony | Sell | 5.0K | $156.65 |
| 2025-11-12 | Hunt Anthony | Sell | 11K | $158.01 |
| 2025-11-12 | Hunt Anthony | Sell | 464 | $158.51 |
| 2025-11-12 | Hunt Anthony | Sell | 3.7K | $154.92 |
| 2025-10-02 | Loeillot Olivier | Tax withheld | 1.2K | $145.23 |
| 2025-09-25 | Garland Jason K | Tax withheld | 412 | $121.68 |
| 2025-09-10 | Hunt Anthony | Option exercise | 20K | $33.87 |
| 2025-09-10 | Hunt Anthony | Sell | 96 | $116.34 |
| 2025-09-10 | Hunt Anthony | Sell | 1.1K | $118.32 |
| 2025-09-10 | Hunt Anthony | Sell | 3.3K | $119.64 |
| 2025-09-10 | Hunt Anthony | Sell | 15K | $120.19 |
| 2025-09-10 | Hunt Anthony | Sell | 7.6K | $121.42 |
| 2025-09-10 | Hunt Anthony | Sell | 2.2K | $122.23 |
| 2025-09-03 | Loeillot Olivier | Tax withheld | 2.5K | $116.18 |
| 2025-09-02 | Hughes Violetta | Grant | 4.1K | — |
| 2025-08-08 | Madaus Martin D | Buy | 1.8K | $112.13 |
| 2025-05-15 | Konstantinov Konstantin | Grant | 973 | — |
| 2025-05-15 | MUIR GLENN P | Grant | 973 | — |
| 2025-05-15 | EGLINTON MANNER CARRIE | Grant | 973 | — |
| 2025-05-15 | DAWES KAREN A | Grant | 973 | — |
| 2025-05-15 | Madaus Martin D | Grant | 973 | — |
| 2025-05-15 | Pax Margaret | Grant | 973 | — |
| 2025-05-15 | BARTHELEMY NICOLAS | Grant | 973 | — |
| 2025-05-15 | Hunt Anthony | Sell | 2.0K | $122.66 |
| 2025-05-15 | Hunt Anthony | Sell | 18K | $123.57 |
| 2025-05-15 | Hunt Anthony | Sell | 6.5K | $124.34 |
| 2025-05-15 | Hunt Anthony | Sell | 268 | $125.20 |
| 2025-05-15 | Hunt Anthony | Sell | 7 | $127.00 |
| 2025-05-15 | Mhatre Rohin | Grant | 973 | — |
| 2025-04-01 | Bylund James | Tax withheld | 454 | $128.50 |
| 2025-03-17 | Pax Margaret | Buy | 250 | $150.69 |
| 2025-03-17 | Hunt Anthony | Option exercise | 5.0K | $33.87 |
| 2025-03-17 | Hunt Anthony | Option exercise | 22K | $59.52 |
| 2025-03-17 | Hunt Anthony | Sell | 60 | $148.05 |
| 2025-03-17 | Hunt Anthony | Sell | 100 | $150.38 |
| 2025-03-17 | Hunt Anthony | Sell | 2.5K | $151.09 |
| 2025-03-17 | Hunt Anthony | Sell | 6.2K | $151.96 |
| 2025-03-17 | Hunt Anthony | Sell | 16K | $152.82 |
| 2025-03-17 | Hunt Anthony | Sell | 2.3K | $153.70 |
| 2025-03-13 | Bylund James | Tax withheld | 175 | $142.44 |
| 2025-03-13 | Bylund James | Grant | 381 | — |
| 2025-03-03 | KURIYEL RALF | Grant | 4.8K | — |
| 2025-03-03 | KURIYEL RALF | Tax withheld | 386 | $155.38 |
| 2025-03-03 | Hunt Anthony | Tax withheld | 10K | $155.38 |
| 2025-03-03 | Bylund James | Grant | 6.4K | — |
| 2025-03-03 | Bylund James | Tax withheld | 1.2K | $155.38 |
| 2025-03-03 | Loeillot Olivier | Grant | 14K | — |
| 2025-03-03 | Garland Jason K | Grant | 6.4K | — |
| 2025-02-27 | Loeillot Olivier | Tax withheld | 343 | $156.54 |
| 2025-02-27 | Bylund James | Tax withheld | 1.3K | $156.54 |
| 2025-02-27 | KURIYEL RALF | Tax withheld | 391 | $156.54 |
| 2025-02-27 | Hunt Anthony | Tax withheld | 2.8K | $156.54 |
| 2025-02-27 | Garland Jason K | Tax withheld | 316 | $156.54 |
| 2025-02-24 | Bylund James | Tax withheld | 543 | $164.74 |
| 2025-02-24 | Hunt Anthony | Tax withheld | 2.4K | $164.74 |
| 2025-02-24 | KURIYEL RALF | Tax withheld | 275 | $164.74 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-15 | Shareholder vote | filing ↗ |
| 2026-05-05 | ResultsExhibits | filing ↗ |
| 2026-02-24 | ResultsExhibits | filing ↗ |
| 2026-01-06 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-10-28 | ResultsExhibits | filing ↗ |
| 2025-09-02 | Exec/director changeExhibits | filing ↗ |
| 2025-07-29 | ResultsExhibits | filing ↗ |
| 2025-05-15 | 5.03Shareholder voteExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-15 | 2026-05-14 | 0001193125-26-225380 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001193125-26-208954 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001193125-26-205011 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001193125-26-076528 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0001193125-26-065246 ↗ |
| 8-K | 2026-01-06 | 2026-01-06 | 0001193125-26-003467 ↗ |
| 10-Q | 2025-11-04 | 2025-09-30 | 0001193125-25-264666 ↗ |
| 8-K | 2025-10-28 | 2025-10-28 | 0001193125-25-252385 ↗ |
| 8-K | 2025-09-02 | 2025-09-01 | 0001193125-25-193481 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0000950170-25-105166 ↗ |
| 8-K | 2025-07-29 | 2025-07-29 | 0000950170-25-099389 ↗ |
| 8-K | 2025-05-15 | 2025-05-15 | 0000950170-25-072664 ↗ |