REGENXBIO (NASDAQ:RGNX) Stock Price Down 3.1% Following Insider Selling

REGENXBIO Inc. (NASDAQ:RGNX) shares fell 3.1% on Thursday after an insider sold shares in the company. The stock traded as low as $16.21 and last traded at $16.50. 113,665 shares were traded during trading, a decline of 84% from the average session volume of 729,422 shares. The stock had previously closed at $17.03.

Specifically, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total value of $251,400.00. Following the sale, the chief executive officer now directly owns 408,035 shares in the company, valued at approximately $6,838,666.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total value of $251,400.00. Following the sale, the chief executive officer now directly owns 408,035 shares in the company, valued at approximately $6,838,666.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steve Pakola sold 12,878 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total transaction of $365,220.08. Following the completion of the sale, the insider now owns 107,192 shares in the company, valued at $3,039,965.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,878 shares of company stock worth $1,217,370. Insiders own 13.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Leerink Partnrs raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 6th. Robert W. Baird raised their price objective on shares of REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Barclays lifted their price target on shares of REGENXBIO from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Wedbush restated a “neutral” rating and set a $21.00 price objective on shares of REGENXBIO in a research report on Wednesday, February 28th. Finally, Chardan Capital restated a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.45.

REGENXBIO Price Performance

The business’s fifty day moving average price is $20.03 and its 200 day moving average price is $17.85.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.16). The business had revenue of $22.30 million during the quarter, compared to analyst estimates of $34.01 million. REGENXBIO had a negative net margin of 291.99% and a negative return on equity of 68.18%. The business’s revenue was down 28.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.38) earnings per share. Analysts predict that REGENXBIO Inc. will post -3.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On REGENXBIO

Several institutional investors have recently bought and sold shares of RGNX. BlackRock Inc. increased its stake in REGENXBIO by 20.3% in the 1st quarter. BlackRock Inc. now owns 8,040,790 shares of the biotechnology company’s stock valued at $152,051,000 after buying an additional 1,354,440 shares during the period. Redmile Group LLC increased its stake in REGENXBIO by 27.0% in the 3rd quarter. Redmile Group LLC now owns 2,574,042 shares of the biotechnology company’s stock valued at $42,369,000 after buying an additional 547,466 shares during the period. Goldman Sachs Group Inc. increased its stake in REGENXBIO by 320.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 500,125 shares of the biotechnology company’s stock valued at $12,353,000 after buying an additional 381,047 shares during the period. Balyasny Asset Management L.P. increased its stake in REGENXBIO by 43,004.2% in the 1st quarter. Balyasny Asset Management L.P. now owns 376,300 shares of the biotechnology company’s stock valued at $7,116,000 after buying an additional 375,427 shares during the period. Finally, Perceptive Advisors LLC acquired a new position in REGENXBIO in the 4th quarter valued at $6,146,000. 88.08% of the stock is owned by institutional investors and hedge funds.

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.