REGENXBIO (NASDAQ:RGNX) Trading Down 4.8% – Here’s Why

REGENXBIO Inc. (NASDAQ:RGNX)’s share price fell 4.8% during trading on Monday . The company traded as low as $9.10 and last traded at $9.1940. 176,727 shares changed hands during trading, a decline of 88% from the average session volume of 1,441,677 shares. The stock had previously closed at $9.66.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Barclays lowered shares of REGENXBIO from an “overweight” rating to a “hold” rating in a research note on Friday, August 7th. Bank of America cut their target price on shares of REGENXBIO from $25.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Morgan Stanley reiterated an “overweight” rating and set a $18.00 target price on shares of REGENXBIO in a report on Friday, August 7th. Robert W. Baird decreased their price target on shares of REGENXBIO from $32.00 to $29.00 and set an “outperform” rating for the company in a research report on Tuesday, August 25th. Finally, Wall Street Zen raised shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.27.

REGENXBIO Trading Down 2.2%

The firm has a 50 day moving average price of $11.07 and a 200-day moving average price of $9.20. The firm has a market cap of $623.79 million, a PE ratio of -2.49 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 for the quarter, topping analysts’ consensus estimates of $0.08 by $0.35. The firm had revenue of $108.02 million for the quarter, compared to analyst estimates of $97.63 million. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. Equities analysts forecast 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 firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total value of $29,476.04. Following the sale, the insider directly owned 213,009 shares in the company, valued at approximately $2,905,442.76. This trade represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 58,494 shares of company stock valued at $718,232. Corporate insiders own 14.22% of the company’s stock.

Institutional Trading of REGENXBIO

A number of hedge funds and other institutional investors have recently bought and sold shares of RGNX. Walleye Capital LLC acquired a new stake in shares of REGENXBIO during the second quarter worth about $2,441,000. Dimensional Fund Advisors LP boosted its position in shares of REGENXBIO by 11.8% in the 1st 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 position in REGENXBIO during the 4th quarter worth approximately $1,683,000. Royce & Associates LP purchased a new position in REGENXBIO during the 4th quarter worth approximately $1,714,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in REGENXBIO during the first quarter worth approximately $2,305,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.