I started looking for a new job because my current one is going nowhere. Surprisingly, I’ve had some decent luck and even made it through two rounds with a company I really like. We even talked about the next steps... but then I saw they reposted the job I'm going after on LinkedIn yesterday. I’m trying to tell myself it’s just an auto-renew, but I’m worried the hiring manager is moving on. Is it a bad sign if a company reposts a job so quickly?

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It's probably a bad idea to let something like that shake your confidence. It's possible it is, as you indicate, something that just renewed. There is a possibility they want to see more candidates, or perhaps their policy is that they have to hear from some fixed number of applicants. If anything, seeing that should make you more competitive and determined.

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Reposts happen often due to auto renew or pipeline building. I would not panic yet. If you are still in process, your candidacy stands on its own. Have they communicated timelines clearly?

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If it is really bothering you, you could send a light follow-up. Something like, I'm excited about the next steps we discussed, and wanted to see if you need anything else from me. That keeps you top of mind without sounding panicked.

It's definitely worth following up with the company, politely asking how your interview went and for any feedback.
The fact that you are showing an interest may actually benefit you, it has for me in previous applications. If their HR team are decent they won't have any problems with you following up or even giving constructive feedback.
It's quite common for job's to get readvertised, until the vacancy has been filled, but good luck with it !

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