REGENXBIO (NASDAQ:RGNX) Insider Sells $472,283.50 in Stock

REGENXBIO Inc. (NASDAQ:RGNX) insider Steve Pakola sold 36,725 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $12.86, for a total value of $472,283.50. Following the completion of the transaction, the insider directly owned 213,009 shares of the company’s stock, valued at approximately $2,739,295.74. This represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Steve Pakola also recently made the following trade(s):

• On Monday, June 29th, Steve Pakola sold 19,608 shares of REGENXBIO stock. The stock was sold at an average price of $11.04, for a total value of $216,472.32.
• On Monday, May 11th, Steve Pakola sold 15,309 shares of REGENXBIO stock. The stock was sold at an average price of $11.02, for a total value of $168,705.18.

REGENXBIO Stock Performance

RGNX stock opened at $13.28 on Friday. The stock has a market cap of $686.58 million, a P/E ratio of -2.37 and a beta of 0.90. The stock’s fifty day simple moving average is $8.29 and its two-hundred day simple moving average is $9.93. REGENXBIO Inc. has a 1-year low of $5.45 and a 1-year high of $16.19.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.36). The business had revenue of $6.39 million for the quarter, compared to analysts’ expectations of $25.84 million. REGENXBIO had a negative net margin of 330.23% and a negative return on equity of 232.50%. As a group, analysts forecast that REGENXBIO Inc. will post -3.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On REGENXBIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGNX. JPMorgan Chase & Co. raised its position in shares of REGENXBIO by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company’s stock valued at $38,959,000 after purchasing an additional 185,223 shares during the period. Invenomic Capital Management LP bought a new position in REGENXBIO in the 3rd quarter worth approximately $4,120,000. Assenagon Asset Management S.A. grew its stake in REGENXBIO by 64.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock valued at $16,709,000 after buying an additional 454,977 shares in the last quarter. Integral Health Asset Management LLC grew its stake in REGENXBIO by 57.1% in the 3rd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock valued at $10,615,000 after buying an additional 400,000 shares in the last quarter. Finally, Royce & Associates LP purchased a new position in REGENXBIO in the 4th quarter valued at approximately $1,714,000. 88.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of REGENXBIO in a report on Monday, June 8th. Morgan Stanley set a $16.00 target price on shares of REGENXBIO in a research report on Friday, May 15th. Barclays decreased their price target on shares of REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 15th. HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price target on shares of REGENXBIO in a report on Wednesday. Finally, Leerink Partners upped their price objective on REGENXBIO from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Ten 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.82.

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.