Repligen Corporation detracted most from the Osterweis Opportunity Fund's relative returns in the first quarter of 2026 as enthusiasm for life-sciences tools softened. The fund returned negative 3.78 percent in the quarter, compared to negative 2.81 percent for the Russell 2000 Growth Index. The firm attributed the sector-wide pressure to a slowdown in purchasing by the National Institutes of Health, though it noted Repligen has no exposure to NIH and offered bullish first-quarter guidance. Repligen shares closed at $132.02 on June 18, 2026, with a one-month return of 14.74 percent and a 52-week gain of 11.08 percent, and the company reported first-quarter revenue of $194 million, up 15 percent year over year. Osterweis expects sentiment surrounding life-sciences tools to improve in the second quarter, which could reverse the negative momentum.
Repligen CorporationSector-wide pressure from NIH purchasing slowdown, though Repligen has no direct NIH exposure.