141,469 Shares in REGENXBIO Inc. $RGNX Bought by Ieq Capital LLC

Ieq Capital LLC bought a new stake in REGENXBIO Inc. (NASDAQ:RGNX) during the second quarter, HoldingsChannel reports. The fund bought 141,469 shares of the biotechnology company’s stock, valued at approximately $1,695,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Wealth LLC purchased a new position in shares of REGENXBIO in the 2nd quarter worth about $571,000. BlackRock Inc. purchased a new position in shares of REGENXBIO during the 2nd quarter valued at about $76,641,000. Pallas Capital Advisors LLC purchased a new position in shares of REGENXBIO during the 2nd quarter valued at about $175,000. Deutsche Bank AG bought a new stake in REGENXBIO in the 2nd quarter worth approximately $2,490,000. Finally, Bank of New York Mellon Corp bought a new stake in REGENXBIO in the 2nd quarter worth approximately $1,608,000. Institutional investors own 88.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RGNX. Zacks Research upgraded shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Bank of America cut their price objective on shares of REGENXBIO from $25.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of REGENXBIO in a report on Monday, June 8th. Wall Street Zen upgraded shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Robert W. Baird lowered their price target on shares of REGENXBIO from $32.00 to $29.00 and set an “outperform” rating for the company in a research note on Tuesday. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, REGENXBIO has a consensus rating of “Moderate Buy” and an average target price of $23.27.

Key REGENXBIO News

Here are the key news stories impacting REGENXBIO this week:

• Positive Sentiment: Analysts remain bullish despite lower targets. HC Wainwright reduced its price target to $21 from $23 while maintaining a “buy” rating, and Robert W. Baird cut its target to $29 from $32 while retaining an “outperform” rating. Both targets imply substantial potential upside from recent trading levels. Analyst price target updates
• Positive Sentiment: REGENXBIO added biotechnology investor Greg Ciongoli as an independent director. The company said the appointment strengthens its board and adds industry and investment experience. REGENXBIO appoints Greg Ciongoli to board
• Neutral Sentiment: Reported short-interest data shows no measurable short position. The August 25 report lists short interest at zero shares and a zero-day short-interest ratio, but the reported “increase” is mathematically invalid because both comparison figures are zero. The data therefore provides little useful trading information.
• Negative Sentiment: The FDA placed a clinical hold on RGX-121, REGENXBIO’s investigational treatment for Hunter syndrome. Spinal MRI scans identified asymptomatic abnormalities, described as nodules or masses, in five trial participants. The hold delays development of the company’s leading program and was the primary catalyst for the recent selloff. FDA places clinical hold on RGX-121
• Negative Sentiment: Shareholder litigation scrutiny has increased. Johnson Fistel is investigating potential fiduciary-duty claims involving company officers and directors, including whether long-term shareholders may recover losses following the clinical setback. Although the investigation is not an established finding of wrongdoing, it adds legal and reputational risk. Johnson Fistel investigation

Insider Buying and Selling at REGENXBIO

In other news, insider Steve Pakola sold 2,161 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $13.64, for a total transaction of $29,476.04. Following the transaction, the insider directly owned 213,009 shares of the company’s stock, valued at approximately $2,905,442.76. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 58,494 shares of company stock valued at $718,232. 14.22% of the stock is currently owned by company insiders.

REGENXBIO Trading Up 10.5%

Shares of NASDAQ:RGNX opened at $8.91 on Wednesday. The company has a 50-day moving average price of $10.97 and a 200-day moving average price of $9.21. The company has a market cap of $588.15 million, a price-to-earnings ratio of -2.35 and a beta of 0.94. REGENXBIO Inc. has a 12 month low of $5.45 and a 12 month high of $16.19.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $108.02 million for the quarter, compared to analysts’ expectations of $97.63 million. As a group, research analysts forecast that REGENXBIO Inc. will post -3.91 EPS for the current fiscal year.

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.