Mackay Shields LLC Buys Shares of 11,500 Regenxbio Inc (RGNX)
Mackay Shields LLC bought a new stake in shares of Regenxbio Inc (NASDAQ:RGNX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,500 shares of the biotechnology company’s stock, valued at approximately $825,000.
Several other institutional investors have also made changes to their positions in RGNX. Meeder Asset Management Inc. lifted its position in shares of Regenxbio by 1,212.0% during the second quarter. Meeder Asset Management Inc. now owns 2,178 shares of the biotechnology company’s stock worth $156,000 after purchasing an additional 2,012 shares during the last quarter. Sigma Planning Corp bought a new position in shares of Regenxbio during the second quarter worth about $228,000. Creative Planning bought a new position in shares of Regenxbio during the second quarter worth about $283,000. Xact Kapitalforvaltning AB bought a new stake in Regenxbio in the second quarter valued at about $330,000. Finally, Amalgamated Bank acquired a new position in Regenxbio in the second quarter valued at about $332,000. Institutional investors own 80.82% of the company’s stock.
In other Regenxbio news, CFO Vittal Vasista sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $56.61, for a total value of $424,575.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donald J. Hayden, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $55.01, for a total transaction of $825,150.00. Following the completion of the sale, the director now directly owns 100 shares of the company’s stock, valued at approximately $5,501. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,600 shares of company stock valued at $3,257,200. 16.90% of the stock is currently owned by insiders.
Regenxbio (NASDAQ:RGNX) last posted its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.93). The business had revenue of $40.03 million for the quarter, compared to the consensus estimate of $100.00 million. Regenxbio had a return on equity of 28.70% and a net margin of 44.44%. analysts predict that Regenxbio Inc will post 2.63 EPS for the current year.
A number of equities analysts have recently issued reports on RGNX shares. Bank of America lowered shares of Regenxbio from a “buy” rating to a “neutral” rating and upped their target price for the stock from $64.00 to $80.00 in a research report on Monday, July 23rd. Chardan Capital upped their target price on shares of Regenxbio from $90.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, July 16th. BidaskClub raised shares of Regenxbio from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 1st. Morgan Stanley boosted their price target on shares of Regenxbio from $37.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, July 13th. Finally, Barclays boosted their price target on shares of Regenxbio from $48.00 to $83.00 and gave the stock an “overweight” rating in a research note on Monday, August 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $74.79.
REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.
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