Voss Capital LP Reduces Stake in REGENXBIO Inc. $RGNX

Voss Capital LP cut its position in shares of REGENXBIO Inc. (NASDAQ:RGNX) by 13.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 500,000 shares of the biotechnology company’s stock after selling 75,000 shares during the quarter. Voss Capital LP owned 0.99% of REGENXBIO worth $4,825,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in REGENXBIO by 2,247.7% in 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 during the last quarter. Invenomic Capital Management LP purchased a new position in REGENXBIO during the 3rd quarter valued at about $4,120,000. Integral Health Asset Management LLC lifted its holdings in shares of REGENXBIO by 57.1% in the third quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock valued at $10,615,000 after purchasing an additional 400,000 shares in the last quarter. 22NW LP increased its stake in shares of REGENXBIO by 38.1% during the 2nd quarter. 22NW LP now owns 923,679 shares of the biotechnology company’s stock worth $7,583,000 after purchasing an additional 255,000 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of REGENXBIO by 151.1% during the 1st quarter. Jane Street Group LLC now owns 414,067 shares of the biotechnology company’s stock worth $2,961,000 after purchasing an additional 249,156 shares in the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

REGENXBIO Stock Performance

Shares of RGNX opened at $8.64 on Wednesday. REGENXBIO Inc. has a 1 year low of $5.03 and a 1 year high of $16.19. The company’s 50 day simple moving average is $10.80 and its 200 day simple moving average is $11.46. The company has a market capitalization of $445.91 million, a price-to-earnings ratio of -2.30 and a beta of 1.08.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Thursday, March 5th. The biotechnology company reported ($1.30) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.29). The firm had revenue of $30.34 million during the quarter, compared to analysts’ expectations of $45.48 million. REGENXBIO had a negative return on equity of 103.12% and a negative net margin of 113.75%. Equities analysts expect that REGENXBIO Inc. will post -4.84 EPS for the current fiscal year.

Insider Activity at REGENXBIO

In other news, insider Steve Pakola sold 5,124 shares of REGENXBIO stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $10.35, for a total value of $53,033.40. Following the completion of the sale, the insider owned 247,926 shares of the company’s stock, valued at $2,566,034.10. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.79% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RGNX has been the topic of a number of recent research reports. HC Wainwright reduced their target price on REGENXBIO from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of REGENXBIO in a research report on Thursday, January 22nd. Barclays initiated coverage on REGENXBIO in a report on Tuesday, January 27th. They issued an “overweight” rating and a $37.00 price target for the company. Stifel Nicolaus upped their price objective on REGENXBIO from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Finally, Morgan Stanley decreased their price objective on REGENXBIO from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

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.