Insider Selling: REGENXBIO (NASDAQ:RGNX) CEO Sells 7,624 Shares of Stock

REGENXBIO Inc. (NASDAQ:RGNX) CEO Curran Simpson sold 7,624 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $10.03, for a total transaction of $76,468.72. Following the transaction, the chief executive officer directly owned 236,973 shares in the company, valued at approximately $2,376,839.19. This represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Curran Simpson also recently made the following trade(s):

• On Wednesday, September 10th, Curran Simpson sold 7,734 shares of REGENXBIO stock. The stock was sold at an average price of $10.02, for a total transaction of $77,494.68.

REGENXBIO Stock Up 8.3%

Shares of NASDAQ RGNX opened at $10.58 on Friday. The firm has a market cap of $534.40 million, a PE ratio of -3.08 and a beta of 1.17. REGENXBIO Inc. has a 12-month low of $5.03 and a 12-month high of $12.22. The company’s fifty day simple moving average is $8.96 and its 200 day simple moving average is $8.55.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.25). The company had revenue of $21.36 million for the quarter, compared to the consensus estimate of $40.87 million. REGENXBIO had a negative return on equity of 66.95% and a negative net margin of 112.70%. On average, equities analysts predict that REGENXBIO Inc. will post -4.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RGNX has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of REGENXBIO from $50.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $34.00 target price on shares of REGENXBIO in a research note on Monday, September 8th. Royal Bank Of Canada cut their price objective on shares of REGENXBIO from $21.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Wall Street Zen lowered shares of REGENXBIO from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 9th. Finally, Chardan Capital restated a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a research report on Monday, September 8th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $28.38.

Institutional Investors Weigh In On REGENXBIO

Several hedge funds have recently bought and sold shares of the stock. Pale Fire Capital SE increased its position in REGENXBIO by 7.7% during the 2nd quarter. Pale Fire Capital SE now owns 27,846 shares of the biotechnology company’s stock valued at $229,000 after purchasing an additional 2,000 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of REGENXBIO by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,756 shares of the biotechnology company’s stock worth $198,000 after buying an additional 2,326 shares during the period. ProShare Advisors LLC grew its position in shares of REGENXBIO by 22.4% in the 4th quarter. ProShare Advisors LLC now owns 15,314 shares of the biotechnology company’s stock worth $118,000 after buying an additional 2,800 shares during the period. Brooklyn Investment Group grew its position in shares of REGENXBIO by 163.7% in the 1st quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company’s stock worth $40,000 after buying an additional 3,466 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in shares of REGENXBIO in the 1st quarter worth about $35,000. 88.08% of the stock is currently owned by institutional investors.

About REGENXBIO

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.