REGENXBIO (NASDAQ:RGNX) Trading Up 5.9%

REGENXBIO Inc. (NASDAQ:RGNX)’s stock price was up 5.9% during trading on Tuesday . The stock traded as high as $13.56 and last traded at $13.52. Approximately 104,093 shares traded hands during trading, a decline of 84% from the average daily volume of 639,662 shares. The stock had previously closed at $12.77.

Analyst Ratings Changes

RGNX has been the subject of a number of analyst reports. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. The Goldman Sachs Group began coverage on REGENXBIO in a report on Friday, June 7th. They issued a “buy” rating and a $38.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of REGENXBIO in a research note on Thursday, June 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $40.00 target price on shares of REGENXBIO in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.58.

REGENXBIO Stock Performance

The stock has a market capitalization of $664.96 million, a P/E ratio of -2.30 and a beta of 1.27. The firm has a fifty day moving average price of $13.21 and a two-hundred day moving average price of $16.09.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.10). The firm had revenue of $15.60 million during the quarter, compared to the consensus estimate of $23.52 million. REGENXBIO had a negative net margin of 299.96% and a negative return on equity of 70.72%. The firm’s revenue was down 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.53) EPS. On average, research analysts anticipate that REGENXBIO Inc. will post -4.37 earnings per share for the current fiscal year.

Insider Activity at REGENXBIO

In other news, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.81, for a total transaction of $237,150.00. Following the transaction, the chief executive officer now owns 408,035 shares in the company, valued at approximately $6,451,033.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other REGENXBIO news, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $15.81, for a total value of $237,150.00. Following the completion of the sale, the chief executive officer now owns 408,035 shares in the company, valued at $6,451,033.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $11.27, for a total value of $112,700.00. Following the transaction, the director now directly owns 11,286 shares in the company, valued at $127,193.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,210 shares of company stock worth $380,282. 13.13% of the stock is owned by company insiders.

Institutional Trading of REGENXBIO

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in REGENXBIO by 73.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after buying an additional 746 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of REGENXBIO in the first quarter worth about $56,000. Headlands Technologies LLC grew its position in shares of REGENXBIO by 276.8% during the first quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 2,812 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in REGENXBIO by 352.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,093 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 3,968 shares during the period. Finally, Diversified Trust Co purchased a new position in REGENXBIO in the 2nd quarter worth approximately $121,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

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.