REGENXBIO Inc. (NASDAQ:RGNX – Get Free Report)’s stock price traded up 8% during mid-day trading on Monday . The company traded as high as $10.70 and last traded at $10.68. 1,358,429 shares were traded during trading, a decline of 8% from the average daily volume of 1,470,479 shares. The stock had previously closed at $9.89.
Wall Street Analyst Weigh In
Several research analysts have commented on RGNX shares. Zacks Research downgraded REGENXBIO from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Morgan Stanley set a $16.00 price target on REGENXBIO in a research report on Friday, May 15th. Bank of America lowered their price target on shares of REGENXBIO from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Weiss Ratings restated a “sell (e+)” rating on shares of REGENXBIO in a research report on Monday, June 8th. Finally, Robert W. Baird boosted their price objective 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. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.82.
View Our Latest Report on RGNX
REGENXBIO Stock Down 1.0%
REGENXBIO (NASDAQ:RGNX – Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $25.84 million. REGENXBIO had a negative net margin of 330.23% and a negative return on equity of 232.50%. Research analysts expect that REGENXBIO Inc. will post -3.69 EPS for the current year.
Insider Activity
In other news, insider Steve Pakola sold 2,161 shares of the business’s stock in a transaction dated 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 owned 213,009 shares of the company’s stock, 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. In the last ninety days, insiders sold 73,803 shares of company stock worth $886,937. Company insiders own 14.22% of the company’s stock.
Institutional Investors Weigh In On REGENXBIO
Institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. increased its holdings 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 last quarter. Royce & Associates LP bought a new stake in shares of REGENXBIO during the 4th quarter worth $1,714,000. Y Intercept Hong Kong Ltd purchased a new position in REGENXBIO in the first quarter worth $2,305,000. Propel Bio Management LLC bought a new position in REGENXBIO in the fourth quarter valued at $1,683,000. Finally, ACT Capital Management LLC purchased a new stake in REGENXBIO during the fourth quarter valued at about $1,188,000. 88.08% of the stock is owned by hedge funds and other institutional investors.
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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