REGENXBIO (NASDAQ:RGNX) Stock Crosses Below Fifty Day Moving Average – Here’s Why

REGENXBIO Inc. (NASDAQ:RGNX) shares crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $9.75 and traded as low as $7.90. REGENXBIO shares last traded at $8.15, with a volume of 1,202,453 shares changing hands.

Analysts Set New Price Targets

RGNX has been the subject of a number of recent research reports. Leerink Partners increased their price objective on REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of REGENXBIO in a report on Friday, September 4th. Barclays cut REGENXBIO from an “overweight” rating to a “hold” rating in a research note on Friday, August 7th. Zacks Research raised REGENXBIO from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, REGENXBIO currently has an average rating of “Moderate Buy” and a consensus price target of $23.27.

REGENXBIO Price Performance

The stock’s 50-day moving average is $9.58 and its 200 day moving average is $9.20. The stock has a market cap of $477.91 million, a price-to-earnings ratio of -1.91 and a beta of 0.94.

REGENXBIO (NASDAQ:RGNX) last released 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 company had revenue of $108.02 million for the quarter, compared to analysts’ expectations of $97.63 million. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%. Analysts anticipate that REGENXBIO Inc. will post -3.91 EPS for the current year.

Insiders Place Their Bets

In other REGENXBIO news, insider Steve Pakola sold 36,725 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.86, for a total value of $472,283.50. Following the completion of the transaction, the insider owned 213,009 shares in the company, valued at approximately $2,739,295.74. This represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 58,494 shares of company stock worth $718,232 over the last quarter. Corporate insiders own 14.22% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Institutional investors have recently made changes to their positions in the stock. Walleye Capital LLC acquired a new position in shares of REGENXBIO during the 2nd quarter worth $2,441,000. Bank of New York Mellon Corp acquired a new stake in shares of REGENXBIO in the second quarter valued at about $1,608,000. Dimensional Fund Advisors LP lifted its stake in shares of REGENXBIO by 11.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,010,381 shares of the biotechnology company’s stock valued at $8,464,000 after purchasing an additional 106,530 shares during the period. Propel Bio Management LLC purchased a new stake in REGENXBIO during the fourth quarter worth about $1,683,000. Finally, Royce & Associates LP purchased a new stake in REGENXBIO during the fourth quarter worth about $1,714,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

REGENXBIO Company Profile

REGENXBIO Inc is a biotechnology company focused on developing gene therapies for serious diseases with limited treatment options. The company uses its proprietary NAV AAV Gene Delivery Platform to design adeno-associated virus (AAV) vectors intended to deliver therapeutic genes to targeted cells and tissues.

REGENXBIO’s pipeline has included investigational therapies for rare and genetic disorders, including Duchenne muscular dystrophy, Hunter syndrome, severe mucopolysaccharidosis type I, and homozygous familial hypercholesterolemia.