REGENXBIO (NASDAQ:RGNX) Trading Down 3.8% – Here’s Why

REGENXBIO Inc. (NASDAQ:RGNX) shares fell 3.8% during trading on Tuesday . The company traded as low as $13.68 and last traded at $13.7550. 576,237 shares changed hands during trading, a decline of 31% from the average session volume of 832,843 shares. The stock had previously closed at $14.30.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Chardan Capital restated a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research note on Thursday, November 20th. HC Wainwright restated a “buy” rating and set a $34.00 price objective on shares of REGENXBIO in a report on Tuesday, October 7th. Stifel Nicolaus upped their price target on REGENXBIO from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of REGENXBIO in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Monday, November 24th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, REGENXBIO has an average rating of “Moderate Buy” and a consensus target price of $30.00.

REGENXBIO Price Performance

The business has a 50 day moving average price of $12.77 and a two-hundred day moving average price of $10.45. The stock has a market cap of $702.05 million, a PE ratio of -3.99 and a beta of 1.14.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.18. REGENXBIO had a negative net margin of 110.29% and a negative return on equity of 78.29%. The company had revenue of $29.73 million for the quarter, compared to analysts’ expectations of $24.41 million. On average, sell-side analysts forecast that REGENXBIO Inc. will post -4.84 earnings per share for the current fiscal year.

Insider Activity at REGENXBIO

In related news, CEO Curran Simpson sold 20,811 shares of the company’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $12.62, for a total value of $262,634.82. Following the completion of the transaction, the chief executive officer owned 216,162 shares of the company’s stock, valued at approximately $2,727,964.44. This represents a 8.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 12.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new position in REGENXBIO during the third quarter worth $25,000. Aquatic Capital Management LLC acquired a new stake in shares of REGENXBIO during the third quarter worth about $37,000. Jones Financial Companies Lllp raised its stake in shares of REGENXBIO by 44.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 1,270 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in REGENXBIO by 754.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 5,000 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in REGENXBIO during the second quarter worth approximately $85,000. 88.08% of the stock is currently owned by institutional investors.

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.