REGENXBIO (NASDAQ:RGNX) Hits New 1-Year Low Following Insider Selling

Shares of REGENXBIO Inc. (NASDAQ:RGNX) hit a new 52-week low on Wednesday after an insider sold shares in the company. The stock traded as low as $10.57 and last traded at $10.65, with a volume of 19439 shares. The stock had previously closed at $10.75.

Specifically, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $18.19, for a total transaction of $272,850.00. Following the completion of the sale, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at $7,422,156.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $11.27, for a total value of $112,700.00. Following the completion of the sale, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $127,193.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $18.19, for a total value of $272,850.00. Following the completion of the sale, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at $7,422,156.65. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $622,700 over the last three months. Insiders own 13.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Stifel Nicolaus reissued a “buy” rating and issued a $40.00 price objective on shares of REGENXBIO in a research note on Friday, April 12th. Royal Bank of Canada raised REGENXBIO from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $20.00 to $35.00 in a research report on Friday, March 8th. The Goldman Sachs Group assumed coverage on REGENXBIO in a research report on Friday, June 7th. They issued a “buy” rating and a $38.00 target price on the stock. Leerink Partnrs raised REGENXBIO from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 6th. Finally, StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.58.

REGENXBIO Trading Down 1.3 %

The firm has a market cap of $522.65 million, a price-to-earnings ratio of -1.81 and a beta of 1.27. The stock has a fifty day moving average price of $14.38 and a 200 day moving average price of $16.73.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.10). The business had revenue of $15.60 million during the quarter, compared to analyst estimates of $23.52 million. REGENXBIO had a negative net margin of 299.96% and a negative return on equity of 70.72%. The business’s quarterly revenue was down 18.3% compared to the same quarter last year. During the same period last year, the business earned ($1.53) EPS. On average, sell-side analysts forecast that REGENXBIO Inc. will post -4.37 EPS for the current year.

Institutional Trading of REGENXBIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in REGENXBIO by 73.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 746 shares during the last quarter. ProShare Advisors LLC grew its holdings in REGENXBIO by 8.3% in the 1st quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock valued at $240,000 after buying an additional 874 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in REGENXBIO by 2.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 49,549 shares of the biotechnology company’s stock valued at $889,000 after buying an additional 990 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of REGENXBIO by 8.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock worth $383,000 after acquiring an additional 1,438 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of REGENXBIO by 0.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 562,391 shares of the biotechnology company’s stock worth $9,257,000 after acquiring an additional 1,493 shares during the period. 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.