REGENXBIO (NASDAQ:RGNX) Stock Price Down 2%

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

Analysts Set New Price Targets

A number of brokerages have issued reports on RGNX. Raymond James reaffirmed an “outperform” rating and set a $45.00 price objective on shares of REGENXBIO in a report on Wednesday, February 21st. Leerink Partnrs raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 6th. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Barclays increased their price objective on shares of REGENXBIO from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Finally, SVB Leerink raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 price objective for the company in a report on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, REGENXBIO currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

REGENXBIO Stock Down 5.0 %

The firm’s 50 day simple moving average is $18.21 and its 200 day simple moving average is $17.66. The company has a market capitalization of $936.14 million, a PE ratio of -3.68 and a beta of 1.27.

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 return on equity of 68.18% and a negative net margin of 291.99%. The firm had revenue of $22.30 million for the quarter, compared to analysts’ expectations of $34.01 million. During the same period in the previous year, the firm earned ($1.38) earnings per share. The firm’s quarterly revenue was down 28.8% compared to the same quarter last year. As a group, sell-side analysts predict that REGENXBIO Inc. will post -3.98 EPS for the current fiscal year.

Insider Transactions at REGENXBIO

In other news, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO 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 sale, the chief executive officer now directly owns 408,035 shares in the company, valued at $8,919,645.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Steve Pakola sold 12,878 shares of REGENXBIO stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the sale, the insider now directly owns 107,192 shares in the company, valued at $3,039,965.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO 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 owns 408,035 shares of the company’s stock, valued at $8,919,645.10. The disclosure for this sale can be found here. Over 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 insiders.

Institutional Trading of REGENXBIO

Several institutional investors and hedge funds have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its holdings in shares of REGENXBIO by 5.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 12,215 shares of the biotechnology company’s stock valued at $244,000 after acquiring an additional 660 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in REGENXBIO by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 16,382 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 681 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in REGENXBIO by 73.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 746 shares during the last quarter. Arizona State Retirement System grew its stake in REGENXBIO by 7.3% in the third quarter. Arizona State Retirement System now owns 11,138 shares of the biotechnology company’s stock valued at $183,000 after purchasing an additional 761 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in REGENXBIO by 1.1% in the first quarter. Prudential Financial Inc. now owns 71,412 shares of the biotechnology company’s stock valued at $1,350,000 after purchasing an additional 800 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors.

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.