Acadian Asset Management LLC Invests $494,000 in REGENXBIO Inc. (NASDAQ:RGNX)

Acadian Asset Management LLC bought a new position in REGENXBIO Inc. (NASDAQ:RGNX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 42,292 shares of the biotechnology company’s stock, valued at approximately $494,000. Acadian Asset Management LLC owned approximately 0.09% of REGENXBIO at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its position in REGENXBIO by 73.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after buying an additional 746 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of REGENXBIO in the first quarter valued at $56,000. Headlands Technologies LLC boosted its position in shares of REGENXBIO by 276.8% in the first quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock worth $81,000 after buying an additional 2,812 shares during the period. Diversified Trust Co acquired a new stake in shares of REGENXBIO in the second quarter worth $121,000. Finally, Arizona State Retirement System grew its holdings in shares of REGENXBIO by 20.6% during the second quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock valued at $137,000 after buying an additional 1,997 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at REGENXBIO

In other REGENXBIO news, Director Argeris N. Karabelas sold 11,000 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.04, for a total value of $165,440.00. Following the completion of the sale, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $169,741.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction that occurred on Monday, July 1st. The stock was 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 of the company’s stock, valued at approximately $127,193.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Argeris N. Karabelas sold 11,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.04, for a total value of $165,440.00. Following the completion of the transaction, the director now owns 11,286 shares of the company’s stock, valued at $169,741.44. The disclosure for this sale can be found here. Insiders sold a total of 65,279 shares of company stock worth $875,634 in the last ninety days. 13.13% of the stock is currently owned by insiders.

REGENXBIO Stock Performance

REGENXBIO stock opened at $12.53 on Thursday. The business’s 50-day simple moving average is $12.54 and its 200-day simple moving average is $15.16. REGENXBIO Inc. has a 52 week low of $10.49 and a 52 week high of $28.80. The firm has a market capitalization of $617.18 million, a PE ratio of -2.13 and a beta of 1.22.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.24. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. The company had revenue of $22.30 million during the quarter, compared to analyst estimates of $22.97 million. During the same period in the previous year, the company earned ($1.66) earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts forecast that REGENXBIO Inc. will post -4.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RGNX shares. The Goldman Sachs Group started coverage on REGENXBIO in a research note on Friday, June 7th. They issued a “buy” rating and a $38.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $39.00 price target on shares of REGENXBIO in a report on Wednesday, September 4th. Barclays cut their price target on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, StockNews.com cut shares of REGENXBIO from a “hold” rating to a “sell” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, REGENXBIO currently has an average rating of “Moderate Buy” and a consensus price target of $37.91.

REGENXBIO 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.