REGENXBIO Inc. (NASDAQ:RGNX – Get Free Report)’s share price traded down 4.8% on Monday . The company traded as low as $9.10 and last traded at $9.1940. Approximately 176,727 shares traded hands during mid-day 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 Analysts Forecast Growth
Several equities analysts recently weighed in on RGNX shares. Barclays lowered REGENXBIO from an “overweight” rating to a “hold” rating in a research note on Friday, August 7th. Zacks Research upgraded REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Bank of America dropped their price objective on REGENXBIO from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Wall Street Zen upgraded REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Robert W. Baird cut their price objective on REGENXBIO from $32.00 to $29.00 and set an “outperform” rating for the company in a research report on Tuesday, August 25th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, REGENXBIO currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.27.
Check Out Our Latest Research Report on REGENXBIO
REGENXBIO Price Performance
REGENXBIO (NASDAQ:RGNX – Get Free Report) last released its earnings results on Thursday, August 6th. The biotechnology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.35. The business had revenue of $108.02 million during the quarter, compared to analysts’ expectations of $97.63 million. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. Analysts forecast that REGENXBIO Inc. will post -3.91 earnings per share for the current year.
Insider Buying and Selling
In other REGENXBIO news, insider Steve Pakola sold 2,161 shares of the business’s stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 58,494 shares of company stock worth $718,232. 14.22% of the stock is currently owned by insiders.
Institutional Trading of REGENXBIO
A number of institutional investors have recently made changes to their positions in RGNX. BlackRock Inc. acquired a new position in REGENXBIO in the 2nd quarter valued at $76,641,000. AQR Capital Management LLC boosted its stake in REGENXBIO by 2,247.7% during the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock worth $4,437,000 after purchasing an additional 594,161 shares during the last quarter. Bank of America Corp DE acquired a new stake in REGENXBIO during the 2nd quarter worth $6,212,000. State Street Corp boosted its stake 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 purchasing an additional 301,858 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of REGENXBIO during the first quarter worth $2,305,000. 88.08% of the stock is 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.
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