REGENXBIO (NASDAQ:RGNX) Shares Down 3.7%

REGENXBIO Inc. (NASDAQ:RGNX)’s share price was down 3.7% during mid-day trading on Thursday . The stock traded as low as $12.20 and last traded at $12.24. Approximately 58,263 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 600,573 shares. The stock had previously closed at $12.71.

Wall Street Analyst Weigh In

Several brokerages recently commented on RGNX. Barclays dropped their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. HC Wainwright reaffirmed a “buy” rating and set a $39.00 target price on shares of REGENXBIO in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group assumed coverage on shares of REGENXBIO in a report on Friday, June 7th. They issued a “buy” rating and a $38.00 price target for the company. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, REGENXBIO has an average rating of “Moderate Buy” and an average price target of $37.91.

REGENXBIO Price Performance

The stock has a market capitalization of $597.97 million, a P/E ratio of -2.10 and a beta of 1.22. The company’s 50 day simple moving average is $12.31 and its two-hundred day simple moving average is $15.41.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($1.05) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.24. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. The company had revenue of $22.30 million for the quarter, compared to analyst estimates of $22.97 million. During the same quarter in the previous year, the firm earned ($1.66) earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. On average, research analysts anticipate that REGENXBIO Inc. will post -4.66 earnings per share for the current fiscal year.

Insider Transactions at REGENXBIO

In other news, Director Argeris N. Karabelas sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $11.27, for a total transaction of $112,700.00. Following the transaction, the director now owns 11,286 shares of the company’s stock, valued at $127,193.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $11.27, for a total transaction of $112,700.00. Following the completion of the sale, the director now owns 11,286 shares in the company, valued at approximately $127,193.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth T. Mills sold 12,221 shares of REGENXBIO stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $13.78, for a total value of $168,405.38. Following the sale, the director now directly owns 408,035 shares of the company’s stock, valued at $5,622,722.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,279 shares of company stock worth $875,634. Corporate insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Several large investors have recently bought and sold shares of RGNX. Charles Schwab Investment Management Inc. raised its holdings in REGENXBIO by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 327,451 shares of the biotechnology company’s stock worth $5,878,000 after buying an additional 1,683 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of REGENXBIO by 174.4% during the fourth quarter. BNP Paribas Financial Markets now owns 67,760 shares of the biotechnology company’s stock worth $1,216,000 after acquiring an additional 43,070 shares during the period. Jump Financial LLC acquired a new position in REGENXBIO in the 4th quarter worth $644,000. Dimensional Fund Advisors LP boosted its stake in REGENXBIO by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,226,957 shares of the biotechnology company’s stock worth $22,025,000 after purchasing an additional 34,385 shares during the period. Finally, Panagora Asset Management Inc. increased its holdings in REGENXBIO by 2.4% during the 4th quarter. Panagora Asset Management Inc. now owns 222,363 shares of the biotechnology company’s stock worth $3,991,000 after purchasing an additional 5,184 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

About REGENXBIO

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company's products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.