Arizona State Retirement System Grows Stock Holdings in REGENXBIO Inc. (NASDAQ:RGNX)

Arizona State Retirement System raised its position in REGENXBIO Inc. (NASDAQ:RGNX) by 20.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,669 shares of the biotechnology company’s stock after purchasing an additional 1,997 shares during the period. Arizona State Retirement System’s holdings in REGENXBIO were worth $137,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in REGENXBIO by 73.5% during 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. Allspring Global Investments Holdings LLC acquired a new position in shares of REGENXBIO in the first quarter valued at approximately $56,000. Headlands Technologies LLC raised its position in shares of REGENXBIO by 276.8% in the first quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock valued at $81,000 after buying an additional 2,812 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of REGENXBIO by 67.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 8,519 shares of the biotechnology company’s stock valued at $179,000 after buying an additional 3,426 shares during the period. Finally, Diversified Trust Co acquired a new stake in REGENXBIO during the second quarter worth approximately $121,000. 88.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at REGENXBIO

In other news, Director Kenneth T. Mills sold 12,221 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $13.78, for a total value of $168,405.38. Following the transaction, the director now owns 408,035 shares of the company’s stock, valued at approximately $5,622,722.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Kenneth T. Mills sold 12,221 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $13.78, for a total value of $168,405.38. Following the completion of the sale, the director now owns 408,035 shares in the company, valued at $5,622,722.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Argeris N. Karabelas sold 10,000 shares of the firm’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 sale, the director now owns 11,286 shares in the company, valued at $127,193.22. The disclosure for this sale can be found here. Insiders sold 65,279 shares of company stock valued at $875,634 over the last 90 days. Corporate insiders own 13.13% of the company’s stock.

REGENXBIO Price Performance

Shares of NASDAQ:RGNX opened at $12.53 on Thursday. The business has a 50-day moving average of $12.54 and a two-hundred day moving average of $15.16. The firm has a market capitalization of $617.18 million, a PE ratio of -2.13 and a beta of 1.22. REGENXBIO Inc. has a 12 month low of $10.49 and a 12 month high of $28.80.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.24. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 68.21%. The firm had revenue of $22.30 million during the quarter, compared to the consensus estimate of $22.97 million. During the same quarter in the prior year, the company earned ($1.66) EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that REGENXBIO Inc. will post -4.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RGNX shares. StockNews.com downgraded REGENXBIO from a “hold” rating to a “sell” rating in a report on Thursday, September 12th. The Goldman Sachs Group assumed coverage on REGENXBIO in a research note on Friday, June 7th. They issued a “buy” rating and a $38.00 target price for the company. Barclays decreased their price target on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $39.00 price objective on shares of REGENXBIO in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, REGENXBIO presently has an average rating of “Moderate Buy” and an average price target of $37.91.

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.