REGENXBIO (NASDAQ:RGNX) Stock Price Down 6% – Here’s What Happened

Shares of REGENXBIO Inc. (NASDAQ:RGNX) fell 6% during mid-day trading on Tuesday . The stock traded as low as $8.28 and last traded at $8.1670. Approximately 155,007 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,419,530 shares. The stock had previously closed at $8.69.

Wall Street Analysts Forecast Growth

Several analysts have commented on RGNX shares. HC Wainwright cut their target price on REGENXBIO from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, August 25th. Wall Street Zen upgraded REGENXBIO from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research raised REGENXBIO from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $18.00 price objective on shares of REGENXBIO in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of REGENXBIO in a report on Friday, September 4th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.27.

REGENXBIO Trading Up 0.4%

The business’s 50 day simple moving average is $10.20 and its two-hundred day simple moving average is $9.25. The firm has a market capitalization of $526.76 million, a PE ratio of -2.11 and a beta of 0.94.

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

Insider Transactions at REGENXBIO

In other REGENXBIO news, insider Steve Pakola sold 36,725 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $12.86, for a total value 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. This trade represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 58,494 shares of company stock valued at $718,232 over the last 90 days. Company insiders own 14.22% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Several institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc grew its position in REGENXBIO by 60.4% during the second quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 1,032 shares during the period. Quantbot Technologies LP purchased a new stake in REGENXBIO during the second quarter valued at approximately $51,000. Legal & General Group Plc bought a new position in REGENXBIO in the second quarter worth approximately $56,000. Entropy Technologies LP bought a new position in REGENXBIO in the first quarter worth approximately $87,000. Finally, ProShare Advisors LLC purchased a new position in shares of REGENXBIO during the 4th quarter worth $155,000. Institutional investors own 88.08% of the company’s stock.

About REGENXBIO

REGENXBIO Inc is a biotechnology company focused on developing gene therapies for serious diseases with limited treatment options. The company uses its proprietary NAV AAV Gene Delivery Platform to design adeno-associated virus (AAV) vectors intended to deliver therapeutic genes to targeted cells and tissues.

REGENXBIO’s pipeline has included investigational therapies for rare and genetic disorders, including Duchenne muscular dystrophy, Hunter syndrome, severe mucopolysaccharidosis type I, and homozygous familial hypercholesterolemia.