NewEdge Wealth LLC Invests $571,000 in REGENXBIO Inc. $RGNX

NewEdge Wealth LLC acquired a new stake in REGENXBIO Inc. (NASDAQ:RGNX) during the second quarter, HoldingsChannel.com reports. The fund acquired 47,700 shares of the biotechnology company’s stock, valued at approximately $571,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in REGENXBIO during the second quarter worth $76,641,000. Vanguard Group Inc. boosted its position in REGENXBIO by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 3,374,140 shares of the biotechnology company’s stock valued at $48,588,000 after acquiring an additional 36,042 shares during the last quarter. State Street Corp grew its holdings in REGENXBIO by 15.2% during the 4th quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock worth $32,929,000 after acquiring an additional 301,858 shares during the period. AQR Capital Management LLC grew its holdings in REGENXBIO by 5.6% during the 4th quarter. AQR Capital Management LLC now owns 1,361,962 shares of the biotechnology company’s stock worth $19,612,000 after acquiring an additional 72,307 shares during the period. Finally, Integral Health Asset Management LLC raised its position in shares of REGENXBIO by 9.1% in the 4th quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the biotechnology company’s stock worth $17,280,000 after acquiring an additional 100,000 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RGNX. Zacks Research raised REGENXBIO from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Leerink Partners raised their target price on REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Wall Street Zen upgraded REGENXBIO from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. Robert W. Baird boosted their price target on REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of REGENXBIO in a report on Monday, June 8th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, REGENXBIO has a consensus rating of “Moderate Buy” and an average price target of $23.73.

REGENXBIO Trading Down 3.1%

Shares of RGNX stock opened at $10.72 on Friday. The firm has a market capitalization of $707.63 million, a PE ratio of -2.83 and a beta of 0.94. The firm has a fifty day simple moving average of $10.91 and a two-hundred day simple moving average of $9.26. REGENXBIO Inc. has a 12 month low of $5.45 and a 12 month high of $16.19.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.35. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. The firm had revenue of $108.02 million for the quarter, compared to the consensus estimate of $97.63 million. On average, equities analysts predict that REGENXBIO Inc. will post -3.91 earnings per share for the current fiscal year.

Insider Activity at REGENXBIO

In other news, insider Steve Pakola sold 2,161 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total transaction of $29,476.04. Following the completion of the sale, the insider directly owned 213,009 shares of the company’s stock, 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 legal filing with the SEC, which is available at this link. Insiders have sold 58,494 shares of company stock worth $718,232 over the last ninety days. Insiders own 14.22% of the company’s stock.

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.