REGENXBIO (NASDAQ:RGNX) Shares Down 6.8% – Here’s Why

REGENXBIO Inc. (NASDAQ:RGNX)’s share price dropped 6.8% on Friday . The stock traded as low as $14.25 and last traded at $14.5820. Approximately 409,828 shares changed hands during trading, a decline of 71% from the average session volume of 1,395,068 shares. The stock had previously closed at $15.65.

Analyst Ratings Changes

Several research analysts recently issued reports on RGNX shares. HC Wainwright reiterated a “buy” rating and issued a $26.00 target price on shares of REGENXBIO in a research report on Wednesday, July 1st. Weiss Ratings restated a “sell (e+)” rating on shares of REGENXBIO in a research report on Monday, June 8th. Robert W. Baird lifted their price target on REGENXBIO from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Bank of America cut their price objective on REGENXBIO from $25.00 to $14.00 and set a “buy” rating for the company in a report on Friday, May 15th. Finally, Barclays reduced their price objective on REGENXBIO from $37.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.82.

REGENXBIO Trading Down 12.7%

The firm has a fifty day moving average of $8.80 and a two-hundred day moving average of $9.94. The company has a market capitalization of $706.48 million, a PE ratio of -2.44 and a beta of 0.90.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) EPS for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.36). The company had revenue of $6.39 million during the quarter, compared to analysts’ expectations of $25.84 million. REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%. On average, equities analysts expect that REGENXBIO Inc. will post -3.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other REGENXBIO news, insider Steve Pakola sold 2,161 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total value of $29,476.04. Following the sale, the insider owned 213,009 shares of the company’s stock, valued at $2,905,442.76. This trade represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 73,803 shares of company stock worth $886,937. Corporate insiders own 14.22% of the company’s stock.

Institutional Trading of REGENXBIO

Several large investors have recently modified their holdings of the business. AQR Capital Management LLC raised its position in REGENXBIO by 2,247.7% during the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock valued at $4,437,000 after purchasing an additional 594,161 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of REGENXBIO by 64.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock valued at $16,709,000 after acquiring an additional 454,977 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in REGENXBIO in the third quarter worth $4,120,000. Integral Health Asset Management LLC lifted its stake in REGENXBIO by 57.1% in the third quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $10,615,000 after acquiring an additional 400,000 shares during the period. Finally, State Street Corp boosted its holdings in REGENXBIO by 15.2% in the fourth quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock valued at $32,929,000 after acquiring an additional 301,858 shares in the last quarter. 88.08% of the stock is owned by institutional investors.

REGENXBIO Company Profile

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.