REGENXBIO (NASDAQ:RGNX) Shares Cross Below Fifty Day Moving Average – Here’s Why

Shares of REGENXBIO Inc. (NASDAQ:RGNX) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.35 and traded as low as $6.62. REGENXBIO shares last traded at $6.89, with a volume of 1,518,385 shares trading hands.

Analysts Set New Price Targets

RGNX has been the subject of a number of analyst reports. UBS Group reaffirmed an “overweight” rating and issued a $18.00 price target on shares of REGENXBIO in a research note on Tuesday, February 10th. Bank of America dropped their price target on REGENXBIO from $25.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Wall Street Zen downgraded REGENXBIO from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Robert W. Baird set a $27.00 target price on REGENXBIO in a research note on Tuesday, February 10th. Finally, Chardan Capital lowered their target price on REGENXBIO from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Nine research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.91.

REGENXBIO Stock Up 1.7%

The stock has a market cap of $362.40 million, a price-to-earnings ratio of -1.25 and a beta of 1.12. The company has a 50 day simple moving average of $8.32 and a 200 day simple moving average of $10.58.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.36). The firm had revenue of $6.39 million for the quarter, compared to the consensus estimate of $25.84 million. REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%. As a group, analysts predict that REGENXBIO Inc. will post -3.32 earnings per share for the current fiscal year.

Insider Buying and Selling at REGENXBIO

In other news, insider Steve Pakola sold 15,309 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $11.02, for a total transaction of $168,705.18. Following the sale, the insider directly owned 232,617 shares in the company, valued at approximately $2,563,439.34. The trade was a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 14.22% of the company’s stock.

Institutional Trading of REGENXBIO

Several hedge funds and other institutional investors have recently made changes to their positions in RGNX. Aquatic Capital Management LLC bought a new stake in shares of REGENXBIO during the third quarter worth about $37,000. Jones Financial Companies Lllp boosted its holdings in REGENXBIO by 44.4% in the third quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 1,270 shares during the last quarter. Captrust Financial Advisors bought a new stake in REGENXBIO in the second quarter valued at approximately $85,000. Entropy Technologies LP bought a new stake in REGENXBIO in the first quarter valued at approximately $87,000. Finally, Prudential Financial Inc. bought a new stake in REGENXBIO in the second quarter valued at approximately $87,000. 88.08% of the stock is currently owned by institutional investors.

About REGENXBIO

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.