REGENXBIO (NASDAQ:RGNX) Stock Price Down 3.8% – Here’s Why

REGENXBIO Inc. (NASDAQ:RGNX) dropped 3.8% during trading on Tuesday . The stock traded as low as $13.68 and last traded at $13.7550. Approximately 576,237 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 832,843 shares. The stock had previously closed at $14.30.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Monday, November 24th. Chardan Capital reissued a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a research report on Thursday, November 20th. Stifel Nicolaus raised their price target on REGENXBIO from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Leerink Partners lifted their price target on shares of REGENXBIO from $16.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. Finally, Royal Bank Of Canada boosted their target price on REGENXBIO from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, REGENXBIO presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

REGENXBIO Stock Down 3.0%

The business’s 50 day moving average is $12.77 and its 200-day moving average is $10.45. The firm has a market cap of $702.05 million, a P/E ratio of -3.99 and a beta of 1.14.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.18. The business had revenue of $29.73 million for the quarter, compared to analysts’ expectations of $24.41 million. REGENXBIO had a negative net margin of 110.29% and a negative return on equity of 78.29%. As a group, equities analysts predict that REGENXBIO Inc. will post -4.84 earnings per share for the current year.

Insider Buying and Selling at REGENXBIO

In other news, CEO Curran Simpson sold 20,811 shares of REGENXBIO stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $12.62, for a total transaction of $262,634.82. Following the transaction, the chief executive officer owned 216,162 shares in the company, valued at approximately $2,727,964.44. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.79% of the stock is owned by company insiders.

Institutional Trading of REGENXBIO

Hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in shares of REGENXBIO during the first quarter worth approximately $1,123,000. Voss Capital LP raised its stake in shares of REGENXBIO by 47.4% in the second quarter. Voss Capital LP now owns 575,000 shares of the biotechnology company’s stock worth $4,721,000 after acquiring an additional 185,000 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of REGENXBIO by 23.2% during the third quarter. Assenagon Asset Management S.A. now owns 705,403 shares of the biotechnology company’s stock valued at $6,807,000 after purchasing an additional 132,942 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of REGENXBIO by 2,049.0% during the second quarter. Squarepoint Ops LLC now owns 219,288 shares of the biotechnology company’s stock worth $1,800,000 after buying an additional 209,084 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of REGENXBIO by 52.4% during the 1st quarter. Invesco Ltd. now owns 79,469 shares of the biotechnology company’s stock valued at $568,000 after acquiring an additional 27,341 shares during the last quarter. 88.08% of the stock is owned by institutional investors.

REGENXBIO Company Profile

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO’s pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.