Insider Selling: REGENXBIO (NASDAQ:RGNX) Insider Sells $29,476.04 in Stock

REGENXBIO Inc. (NASDAQ:RGNX) insider Steve Pakola sold 2,161 shares of REGENXBIO stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $13.64, for a total transaction of $29,476.04. Following the completion of the transaction, the insider directly owned 213,009 shares in the company, valued at approximately $2,905,442.76. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Steve Pakola also recently made the following trade(s):

• On Monday, June 29th, Steve Pakola sold 19,608 shares of REGENXBIO stock. The shares were sold at an average price of $11.04, for a total transaction of $216,472.32.
• On Wednesday, July 1st, Steve Pakola sold 36,725 shares of REGENXBIO stock. The stock was sold at an average price of $12.86, for a total transaction of $472,283.50.
• On Monday, May 11th, Steve Pakola sold 15,309 shares of REGENXBIO stock. The shares were sold at an average price of $11.02, for a total transaction of $168,705.18.

REGENXBIO Trading Up 1.4%

Shares of NASDAQ:RGNX opened at $15.23 on Thursday. The company has a 50-day moving average price of $8.66 and a 200-day moving average price of $9.93. The company has a market cap of $787.39 million, a price-to-earnings ratio of -2.72 and a beta of 0.90. REGENXBIO Inc. has a 12 month low of $5.45 and a 12 month high of $16.19.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.36). The business had revenue of $6.39 million during the quarter, compared to the consensus estimate of $25.84 million. REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%. As a group, research analysts forecast that REGENXBIO Inc. will post -3.69 EPS for the current fiscal year.

Institutional Investors Weigh In On REGENXBIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RGNX. AQR Capital Management LLC lifted its position in REGENXBIO by 2,247.7% during the first quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock valued at $4,437,000 after buying an additional 594,161 shares during the period. Assenagon Asset Management S.A. grew its position in shares of REGENXBIO by 64.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock worth $16,709,000 after buying an additional 454,977 shares during the period. Invenomic Capital Management LP bought a new position in shares of REGENXBIO in the 3rd quarter worth about $4,120,000. Integral Health Asset Management LLC increased its stake in shares of REGENXBIO by 57.1% in the 3rd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $10,615,000 after acquiring an additional 400,000 shares in the last quarter. Finally, State Street Corp lifted its position in REGENXBIO by 15.2% during the 4th quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock valued at $32,929,000 after acquiring an additional 301,858 shares during the period. 88.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on RGNX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of REGENXBIO in a research note on Monday, June 8th. Morgan Stanley set a $16.00 price objective on shares of REGENXBIO in a report on Friday, May 15th. Leerink Partners raised their target price on shares of REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Robert W. Baird lifted their target price on shares of REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Finally, Barclays reduced their price target on shares of REGENXBIO from $37.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.82.

About REGENXBIO

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.