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

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

Specifically, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $11.27, for a total value of $112,700.00. Following the transaction, the director now directly owns 11,286 shares in the company, valued at $127,193.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at approximately $7,422,156.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Argeris N. Karabelas sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were 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 $127,193.22. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock worth $622,700 over the last three months. 13.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. The Goldman Sachs Group began coverage on shares of REGENXBIO in a research note on Friday, June 7th. They issued a “buy” rating and a $38.00 target price for the company. Royal Bank of Canada upgraded shares of REGENXBIO from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $20.00 to $35.00 in a research report on Friday, March 8th. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of REGENXBIO in a report on Thursday, June 20th. Barclays increased their price target on REGENXBIO from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Finally, StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.58.

REGENXBIO Trading Up 0.7 %

The company has a 50 day simple moving average of $14.17 and a 200 day simple moving average of $16.64. The stock has a market cap of $532.95 million, a P/E ratio of -1.84 and a beta of 1.26.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data 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). REGENXBIO had a negative net margin of 299.96% and a negative return on equity of 70.72%. The business had revenue of $15.60 million during the quarter, compared to analyst estimates of $23.52 million. During the same quarter last year, the business earned ($1.53) earnings per share. REGENXBIO’s revenue for the quarter was down 18.3% on a year-over-year basis. As a group, sell-side analysts expect that REGENXBIO Inc. will post -4.37 earnings per share for the current year.

Institutional Investors Weigh In On REGENXBIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its holdings in REGENXBIO by 73.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after buying an additional 746 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of REGENXBIO during the 1st quarter worth about $56,000. Headlands Technologies LLC raised its holdings in shares of REGENXBIO by 276.8% in the 1st quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock valued at $81,000 after purchasing an additional 2,812 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in REGENXBIO by 352.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,093 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 3,968 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of REGENXBIO by 8.3% in the first quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock valued at $240,000 after purchasing an additional 874 shares during the last quarter. 88.08% of the stock is 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.