REGENXBIO (NASDAQ:RGNX) Trading Down 6.7% – Here’s Why

REGENXBIO Inc. (NASDAQ:RGNX)’s share price was down 6.7% on Thursday . The company traded as low as $13.99 and last traded at $13.9470. Approximately 468,091 shares were traded during trading, a decline of 32% from the average daily volume of 687,727 shares. The stock had previously closed at $14.95.

Analyst Ratings Changes

Several research analysts have commented on the stock. Leerink Partners raised their price target on shares of REGENXBIO from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Royal Bank Of Canada increased their price objective on REGENXBIO from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Wall Street Zen raised REGENXBIO from a “sell” rating to a “hold” rating in a research note on Monday, November 24th. Stifel Nicolaus upped their target price on REGENXBIO from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price target on shares of REGENXBIO in a report on Tuesday, October 7th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

REGENXBIO Stock Down 1.0%

The firm has a market capitalization of $689.44 million, a P/E ratio of -3.93 and a beta of 1.07. The business’s 50-day simple moving average is $13.32 and its 200 day simple moving average is $10.99.

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

Institutional Investors Weigh In On REGENXBIO

Several institutional investors have recently bought and sold shares of RGNX. State of Alaska Department of Revenue purchased a new position in REGENXBIO in the 3rd quarter worth approximately $25,000. Aquatic Capital Management LLC purchased a new position in shares of REGENXBIO in the third quarter worth $37,000. Jones Financial Companies Lllp raised its holdings in 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 boosted its position in REGENXBIO by 754.1% during the 2nd 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 during the period. Finally, Captrust Financial Advisors bought a new stake in REGENXBIO in the 2nd quarter worth $85,000. 88.08% of the stock is currently owned by hedge funds and other 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.