Argeris N. Karabelas Sells 10,000 Shares of REGENXBIO Inc. (NASDAQ:RGNX) Stock

REGENXBIO Inc. (NASDAQ:RGNX) Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $11.27, for a total transaction of $112,700.00. Following the completion of the sale, the director now directly owns 11,286 shares of the company’s stock, valued at $127,193.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

REGENXBIO Stock Up 0.7 %

NASDAQ RGNX opened at $10.82 on Friday. The stock has a market capitalization of $532.99 million, a P/E ratio of -1.84 and a beta of 1.26. REGENXBIO Inc. has a 52-week low of $10.50 and a 52-week high of $28.80. The firm has a 50-day moving average price of $14.17 and a 200 day moving average price of $16.64.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly 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). The firm had revenue of $15.60 million for the quarter, compared to analysts’ expectations of $23.52 million. REGENXBIO had a negative return on equity of 70.72% and a negative net margin of 299.96%. The company’s revenue for the quarter was down 18.3% on a year-over-year basis. During the same period in the prior year, the company earned ($1.53) earnings per share. On average, equities research analysts expect that REGENXBIO Inc. will post -4.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. acquired a new position in REGENXBIO during the fourth quarter worth about $1,915,000. Perceptive Advisors LLC acquired a new position in REGENXBIO during the fourth quarter worth about $6,146,000. Virtu Financial LLC acquired a new position in REGENXBIO during the fourth quarter worth about $377,000. BNP Paribas Financial Markets grew its position in REGENXBIO by 174.4% during the fourth quarter. BNP Paribas Financial Markets now owns 67,760 shares of the biotechnology company’s stock worth $1,216,000 after buying an additional 43,070 shares during the period. Finally, Hudson Bay Capital Management LP grew its position in 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 buying an additional 30,000 shares during the period. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RGNX has been the subject of a number of 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 research report on Friday, March 8th. Chardan Capital reaffirmed a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a report on Thursday, March 7th. The Goldman Sachs Group started coverage on shares of REGENXBIO in a report on Friday, June 7th. They issued a “buy” rating and a $38.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $40.00 target price on shares of REGENXBIO in a report on Friday, April 12th. Finally, StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, REGENXBIO presently has an average rating of “Moderate Buy” and a consensus target price of $38.58.

About REGENXBIO

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.