REGENXBIO (NASDAQ:RGNX) Sets New 1-Year Low After Insider Selling

REGENXBIO Inc. (NASDAQ:RGNX) hit a new 52-week low on Wednesday after an insider sold shares in the company. The company traded as low as $10.57 and last traded at $10.65, with a volume of 19439 shares trading hands. The stock had previously closed at $10.75.

Specifically, Director Argeris N. Karabelas sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $11.27, for a total value of $112,700.00. Following the sale, the director now owns 11,286 shares in the company, valued at approximately $127,193.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $11.27, for a total transaction of $112,700.00. Following the sale, the director now owns 11,286 shares in the company, valued at $127,193.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $15.81, for a total transaction of $237,150.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at approximately $6,451,033.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,000 shares of company stock worth $622,700. Insiders own 13.13% of the company’s stock.

Analysts Set New Price Targets

RGNX has been the topic of a number of recent research reports. Royal Bank of Canada raised shares of REGENXBIO from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $20.00 to $35.00 in a report on Friday, March 8th. Chardan Capital reissued a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research note on Thursday, March 7th. Robert W. Baird raised their price target on shares of REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Finally, HC Wainwright restated a “buy” rating and issued a $38.00 target price on shares of REGENXBIO in a research report on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.58.

REGENXBIO Stock Up 0.7 %

The firm’s 50-day moving average price is $14.28 and its two-hundred day moving average price is $16.69. The firm has a market capitalization of $532.99 million, a PE ratio of -1.84 and a beta of 1.27.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.28) by ($0.10). REGENXBIO had a negative net margin of 299.96% and a negative return on equity of 70.72%. The firm had revenue of $15.60 million for the quarter, compared to analyst estimates of $23.52 million. During the same period last year, the firm earned ($1.53) earnings per share. REGENXBIO’s revenue for the quarter was down 18.3% compared to the same quarter last year. Equities research analysts forecast that REGENXBIO Inc. will post -4.37 EPS for the current year.

Hedge Funds Weigh In On REGENXBIO

Institutional investors and hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new stake in shares of REGENXBIO during the fourth quarter worth approximately $1,915,000. Perceptive Advisors LLC purchased a new position in shares of REGENXBIO during the 4th quarter valued at $6,146,000. Virtu Financial LLC acquired a new position in shares of REGENXBIO in the fourth quarter worth $377,000. BNP Paribas Financial Markets increased its stake in shares of REGENXBIO by 174.4% in the fourth quarter. BNP Paribas Financial Markets now owns 67,760 shares of the biotechnology company’s stock worth $1,216,000 after acquiring an additional 43,070 shares during the last quarter. Finally, Hudson Bay Capital Management LP raised its holdings in shares of REGENXBIO by 35.3% during the third quarter. Hudson Bay Capital Management LP now owns 115,000 shares of the biotechnology company’s stock worth $1,893,000 after acquiring an additional 30,000 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

REGENXBIO Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company's products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.