Corient Private Wealth LP acquired a new position in REGENXBIO Inc. (NASDAQ:RGNX – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 206,756 shares of the biotechnology company’s stock, valued at approximately $2,477,000.
Several other large investors have also modified their holdings of the company. Walleye Capital LLC bought a new position in REGENXBIO in the 2nd quarter worth $2,441,000. Dimensional Fund Advisors LP boosted its holdings in REGENXBIO by 11.8% during 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 acquiring an additional 106,530 shares during the period. Propel Bio Management LLC bought a new stake in REGENXBIO during the fourth quarter valued at about $1,683,000. Royce & Associates LP acquired a new stake in shares of REGENXBIO in the fourth quarter valued at about $1,714,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of REGENXBIO in the first quarter valued at about $2,305,000. 88.08% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on RGNX shares. Zacks Research upgraded REGENXBIO from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of REGENXBIO in a report on Monday, June 8th. Leerink Partners increased their price objective on REGENXBIO from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Morgan Stanley restated an “overweight” rating and issued a $18.00 price objective on shares of REGENXBIO in a research note on Friday, August 7th. Finally, Bank of America cut their target price on shares of REGENXBIO from $25.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.27.
REGENXBIO Stock Up 3.0%
Shares of RGNX opened at $9.60 on Thursday. REGENXBIO Inc. has a 12-month low of $5.45 and a 12-month high of $16.19. The firm has a market capitalization of $633.70 million, a price-to-earnings ratio of -2.53 and a beta of 0.94. The stock’s 50-day moving average price is $11.06 and its 200 day moving average price is $9.22.
REGENXBIO (NASDAQ:RGNX – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.08 by $0.35. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%.The firm had revenue of $108.02 million during the quarter, compared to analysts’ expectations of $97.63 million. Equities research analysts expect that REGENXBIO Inc. will post -3.91 EPS for the current year.
Insider Activity
In related news, insider Steve Pakola sold 2,161 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $13.64, for a total value 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. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 58,494 shares of company stock worth $718,232 in the last quarter. Insiders own 14.22% of the company’s stock.
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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