REGENXBIO (NASDAQ:RGNX) Trading Down 2%

Shares of REGENXBIO Inc. (NASDAQ:RGNX) dropped 2% during mid-day trading on Thursday . The stock traded as low as $21.67 and last traded at $21.74. Approximately 19,963 shares were traded during trading, a decline of 97% from the average daily volume of 791,242 shares. The stock had previously closed at $22.18.

Analyst Upgrades and Downgrades

RGNX has been the topic of several research analyst reports. Robert W. Baird lifted their price target on REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Barclays lifted their target price on REGENXBIO from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Raymond James restated an “outperform” rating and issued a $45.00 target price on shares of REGENXBIO in a report on Wednesday, February 21st. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Finally, Leerink Partnrs upgraded REGENXBIO from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

REGENXBIO Trading Down 5.0 %

The firm has a market cap of $936.14 million, a price-to-earnings ratio of -3.68 and a beta of 1.27. The firm has a 50-day moving average of $18.21 and a two-hundred day moving average of $17.66.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.16). REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The business had revenue of $22.30 million for the quarter, compared to analyst estimates of $34.01 million. During the same period in the prior year, the firm posted ($1.38) EPS. REGENXBIO’s revenue for the quarter was down 28.8% on a year-over-year basis. As a group, equities analysts anticipate that REGENXBIO Inc. will post -3.98 EPS for the current year.

Insider Activity at REGENXBIO

In related news, insider Steve Pakola sold 17,237 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $17.39, for a total transaction of $299,751.43. Following the transaction, the insider now directly owns 107,192 shares in the company, valued at $1,864,068.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Kenneth T. Mills sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $15.18, for a total value of $683,100.00. Following the sale, the chief executive officer now directly owns 408,035 shares in the company, valued at approximately $6,193,971.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steve Pakola sold 17,237 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $17.39, for a total value of $299,751.43. Following the completion of the sale, the insider now owns 107,192 shares in the company, valued at $1,864,068.88. The disclosure for this sale can be found here. Insiders have sold 105,115 shares of company stock worth $1,927,372 over the last three months. Company insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Large investors have recently modified their holdings of the stock. Captrust Financial Advisors grew its stake in shares of REGENXBIO by 742.1% in the 1st quarter. Captrust Financial Advisors now owns 960 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 846 shares during the period. Royal Bank of Canada grew its stake in shares of REGENXBIO by 189.8% in the 3rd quarter. Royal Bank of Canada now owns 1,397 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 915 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in shares of REGENXBIO in the 4th quarter valued at approximately $38,000. PNC Financial Services Group Inc. grew its stake in shares of REGENXBIO by 73.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 746 shares during the period. Finally, Point72 Middle East FZE bought a new stake in shares of REGENXBIO in the 4th quarter valued at approximately $52,000. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Company Profile

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.