NewEdge Wealth LLC Invests $571,000 in REGENXBIO Inc. $RGNX

NewEdge Wealth LLC purchased a new stake in REGENXBIO Inc. (NASDAQ:RGNX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 47,700 shares of the biotechnology company’s stock, valued at approximately $571,000. NewEdge Wealth LLC owned approximately 0.09% of REGENXBIO at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC raised its position in REGENXBIO by 2,247.7% during the first quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock valued at $4,437,000 after purchasing an additional 594,161 shares in the last quarter. Jane Street Group LLC boosted its stake in REGENXBIO by 151.1% in the first quarter. Jane Street Group LLC now owns 414,067 shares of the biotechnology company’s stock valued at $2,961,000 after buying an additional 249,156 shares in the last quarter. Franklin Resources Inc. acquired a new stake in REGENXBIO in the second quarter valued at about $239,000. American Century Companies Inc. boosted its stake in REGENXBIO by 8.4% in the second quarter. American Century Companies Inc. now owns 110,066 shares of the biotechnology company’s stock valued at $904,000 after buying an additional 8,487 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in REGENXBIO in the second quarter valued at about $87,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Stock Performance

Shares of NASDAQ RGNX opened at $10.72 on Friday. The firm has a 50 day moving average price of $10.91 and a two-hundred day moving average price of $9.26. The stock has a market cap of $707.63 million, a P/E ratio of -2.83 and a beta of 0.94. REGENXBIO Inc. has a 52-week low of $5.45 and a 52-week high of $16.19.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.35. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. The company had revenue of $108.02 million for the quarter, compared to analyst estimates of $97.63 million. Analysts predict that REGENXBIO Inc. will post -3.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Barclays cut shares of REGENXBIO from an “overweight” rating to a “hold” rating in a report on Friday, August 7th. HC Wainwright dropped their price objective on shares of REGENXBIO from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Wall Street Zen upgraded shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Leerink Partners boosted their target price on shares of REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of REGENXBIO in a report on Monday, June 8th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, REGENXBIO currently has a consensus rating of “Moderate Buy” and an average price target of $23.73.

Insider Buying and Selling

In other REGENXBIO news, insider Steve Pakola sold 36,725 shares of REGENXBIO stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $12.86, for a total transaction of $472,283.50. Following the transaction, the insider directly owned 213,009 shares of the company’s stock, valued at approximately $2,739,295.74. The trade was a 14.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 58,494 shares of company stock worth $718,232. 14.22% of the stock is currently owned by insiders.

REGENXBIO 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.