Regenxbio (RGNX) Shares Down 6.5% Following Insider Selling
Regenxbio Inc (NASDAQ:RGNX) shares fell 6.5% on Thursday following insider selling activity. The company traded as low as $65.05 and last traded at $68.97. 679,671 shares traded hands during trading, an increase of 26% from the average session volume of 539,922 shares. The stock had previously closed at $73.80.
Specifically, insider Kenneth T. Mills sold 7,510 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $74.91, for a total transaction of $562,574.10. Following the transaction, the insider now directly owns 339,505 shares in the company, valued at $25,432,319.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth T. Mills sold 20,000 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $68.25, for a total value of $1,365,000.00. Following the transaction, the insider now owns 322,500 shares in the company, valued at $22,010,625. The disclosure for this sale can be found here. Insiders have sold 271,585 shares of company stock worth $17,733,781 over the last 90 days. 16.90% of the stock is owned by insiders.
A number of research firms have commented on RGNX. ValuEngine cut Regenxbio from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 11th. Raymond James set a $96.00 price target on Regenxbio and gave the stock a “buy” rating in a research note on Thursday. Bank of America upped their price target on Regenxbio from $76.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays upped their price target on Regenxbio from $48.00 to $83.00 and gave the stock an “overweight” rating in a research note on Monday, August 13th. Finally, BidaskClub cut Regenxbio from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $84.07.
Regenxbio (NASDAQ:RGNX) last announced its quarterly earnings data on Wednesday, November 7th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.86) by $0.30. The business had revenue of $5.31 million for the quarter. Regenxbio had a return on equity of 28.70% and a net margin of 44.44%. On average, equities research analysts forecast that Regenxbio Inc will post 1.64 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in RGNX. BlackRock Inc. raised its stake in shares of Regenxbio by 89.9% in the second quarter. BlackRock Inc. now owns 4,218,413 shares of the biotechnology company’s stock valued at $302,671,000 after acquiring an additional 1,997,447 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Regenxbio in the second quarter valued at $14,712,000. RTW Investments LP raised its stake in shares of Regenxbio by 10.7% in the second quarter. RTW Investments LP now owns 2,079,555 shares of the biotechnology company’s stock valued at $149,208,000 after acquiring an additional 201,788 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Regenxbio by 1,514.5% in the second quarter. Voya Investment Management LLC now owns 203,557 shares of the biotechnology company’s stock valued at $14,605,000 after acquiring an additional 190,949 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Regenxbio by 140.6% in the second quarter. Bank of New York Mellon Corp now owns 319,330 shares of the biotechnology company’s stock valued at $22,911,000 after acquiring an additional 186,595 shares in the last quarter. Institutional investors and hedge funds own 81.17% of the company’s stock.
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About Regenxbio (NASDAQ:RGNX)
REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.
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