REGENXBIO (NASDAQ:RGNX) Stock Price Down 3.9% – What’s Next?

REGENXBIO Inc. (NASDAQ:RGNX)’s stock price was down 3.9% during trading on Friday . The company traded as low as $10.58 and last traded at $10.63. 526,405 shares were traded during trading, a decline of 63% from the average session volume of 1,422,760 shares. The stock had previously closed at $11.06.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RGNX shares. Robert W. Baird raised their price target on shares of REGENXBIO from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Leerink Partners upped their price objective on shares of REGENXBIO from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. HC Wainwright dropped their target price on shares of REGENXBIO from $26.00 to $23.00 and set a “buy” rating for the company in a report on Monday, August 10th. Wall Street Zen raised REGENXBIO from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded REGENXBIO from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, REGENXBIO presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.73.

REGENXBIO Trading Down 3.1%

The company has a market cap of $707.63 million, a P/E ratio of -2.83 and a beta of 0.94. The stock’s 50 day moving average is $10.91 and its 200-day moving average is $9.26.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.35. The firm had revenue of $108.02 million for the quarter, compared to the consensus estimate of $97.63 million. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. As a group, sell-side analysts forecast that REGENXBIO Inc. will post -3.91 EPS for the current year.

Insider Activity at REGENXBIO

In other news, insider Steve Pakola sold 2,161 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $13.64, for a total value of $29,476.04. Following the completion of the transaction, the insider owned 213,009 shares in the company, valued at $2,905,442.76. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 58,494 shares of company stock valued at $718,232. 14.22% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On REGENXBIO

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc lifted its stake in REGENXBIO by 60.4% during the 2nd quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 1,032 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of REGENXBIO in the third quarter worth approximately $37,000. Quantbot Technologies LP bought a new stake in shares of REGENXBIO in the second quarter worth approximately $51,000. Legal & General Group Plc purchased a new position in shares of REGENXBIO during the second quarter valued at approximately $56,000. Finally, Entropy Technologies LP purchased a new position in shares of REGENXBIO during the first quarter valued at approximately $87,000. 88.08% of the stock is currently owned by 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.