RGEN - Why Repligen Stock Jumped 10.6% On Friday
Shares of Repligen (NASDAQ: RGEN), a leading provider of proteins and filtration technology that is used to manufacture biologic drugs, rose 10.6% on Friday.
The jump doesn't appear to be caused by any company-specific news. Instead, the double-digit increase was most likely caused by the marketwide buying frenzy on Friday. All three major U.S. market indices -- the Dow Jones Industrial Average, S&P 500, and Nasdaq -- all rang up a greater than 9% gain on Friday.
The vast majority of growth stocks have fallen rapidly in the last few weeks in response to the COVID-19 pandemic. Repligen's stock declined more than 20% in the last two weeks of February, but has actually been climbing ever since.