REGENXBIO (NASDAQ:RGNX) Shares Down 2%

Shares of REGENXBIO Inc. (NASDAQ:RGNX) fell 2% on Thursday . The stock traded as low as $21.67 and last traded at $21.74. 19,963 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 791,242 shares. The stock had previously closed at $22.18.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RGNX. SVB Leerink upgraded REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 target price on the stock in a research note on Wednesday, March 6th. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of REGENXBIO in a research note on Monday, March 11th. Robert W. Baird lifted their target price on REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Finally, Wedbush restated a “neutral” rating and set a $21.00 price target on shares of REGENXBIO in a research note on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, REGENXBIO presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

REGENXBIO Stock Performance

The firm has a market capitalization of $936.14 million, a price-to-earnings ratio of -3.68 and a beta of 1.27. The company has a 50 day moving average price of $18.21 and a two-hundred day moving average price of $17.66.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.16). REGENXBIO had a negative net margin of 291.99% and a negative return on equity of 68.18%. The firm had revenue of $22.30 million during the quarter, compared to analyst estimates of $34.01 million. During the same period in the prior year, the company posted ($1.38) earnings per share. The firm’s revenue for the quarter was down 28.8% compared to the same quarter last year. On average, equities analysts expect that REGENXBIO Inc. will post -3.98 earnings per share for the current fiscal year.

Insider Transactions at REGENXBIO

In other news, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $21.86, for a total transaction of $327,900.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at approximately $8,919,645.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other REGENXBIO news, CEO Kenneth T. Mills sold 45,000 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $15.18, for a total value of $683,100.00. Following the sale, the chief executive officer now owns 408,035 shares of the company’s stock, valued at approximately $6,193,971.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $21.86, for a total value of $327,900.00. Following the completion of the sale, the chief executive officer now directly owns 408,035 shares in the company, valued at approximately $8,919,645.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,115 shares of company stock worth $1,927,372. 12.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On REGENXBIO

Hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors raised its position in REGENXBIO by 742.1% in the 1st quarter. Captrust Financial Advisors now owns 960 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 846 shares in the last quarter. Royal Bank of Canada raised its position in REGENXBIO by 189.8% in the 3rd quarter. Royal Bank of Canada now owns 1,397 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 915 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of REGENXBIO during the 4th quarter worth about $38,000. PNC Financial Services Group Inc. raised its position in shares of REGENXBIO by 73.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 746 shares in the last quarter. Finally, Point72 Middle East FZE acquired a new stake in shares of REGENXBIO during the 4th quarter worth about $52,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company's products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.