REGENXBIO (NASDAQ:RGNX) Shares Gap Up to $14.33

REGENXBIO Inc. (NASDAQ:RGNX)’s share price gapped up prior to trading on Monday . The stock had previously closed at $14.33, but opened at $15.23. REGENXBIO shares last traded at $14.95, with a volume of 90,391 shares changing hands.

Analyst Upgrades and Downgrades

RGNX has been the topic of several research analyst reports. Stifel Nicolaus restated a “buy” rating and set a $40.00 target price on shares of REGENXBIO in a research report on Friday, April 12th. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. The Goldman Sachs Group assumed coverage on shares of REGENXBIO in a report on Friday, June 7th. They issued a “buy” rating and a $38.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of REGENXBIO in a research report on Thursday, June 20th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, REGENXBIO has a consensus rating of “Moderate Buy” and an average target price of $38.58.

REGENXBIO Stock Up 0.2 %

The business has a 50 day moving average of $13.04 and a 200-day moving average of $16.06.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.28) by ($0.10). The company had revenue of $15.60 million during the quarter, compared to analysts’ expectations of $23.52 million. REGENXBIO had a negative net margin of 299.96% and a negative return on equity of 70.72%. The firm’s revenue was down 18.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.53) earnings per share. As a group, equities analysts forecast that REGENXBIO Inc. will post -4.37 earnings per share for the current year.

Insiders Place Their Bets

In other REGENXBIO news, Director Kenneth T. Mills sold 12,221 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $13.78, for a total transaction 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 filing with the SEC, which is available at the SEC website. In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO 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 owns 11,286 shares in the company, valued at approximately $127,193.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth T. Mills sold 12,221 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $13.78, for a total transaction of $168,405.38. Following the transaction, the director now directly owns 408,035 shares of the company’s stock, valued at approximately $5,622,722.30. The disclosure for this sale can be found here. In the last three months, insiders sold 39,431 shares of company stock valued at $548,687. Company insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of REGENXBIO by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,376,573 shares of the biotechnology company’s stock valued at $72,038,000 after buying an additional 36,531 shares during the period. SG Americas Securities LLC purchased a new stake in shares of REGENXBIO during the 4th quarter worth about $553,000. Assenagon Asset Management S.A. purchased a new position in REGENXBIO in the fourth quarter valued at approximately $1,915,000. China Universal Asset Management Co. Ltd. grew its stake in REGENXBIO by 352.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,093 shares of the biotechnology company’s stock worth $91,000 after buying an additional 3,968 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in shares of REGENXBIO by 98.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 74,600 shares of the biotechnology company’s stock worth $1,376,000 after acquiring an additional 37,000 shares in the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.