REGENXBIO (NASDAQ:RGNX) Shares Down 3.1% Following Insider Selling

REGENXBIO Inc. (NASDAQ:RGNX) shares were down 3.1% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $16.21 and last traded at $16.50. Approximately 113,665 shares traded hands during trading, a decline of 84% from the average daily volume of 729,422 shares. The stock had previously closed at $17.03.

Specifically, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total value of $251,400.00. Following the sale, the chief executive officer now directly owns 408,035 shares in the company, valued at approximately $6,838,666.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Steve Pakola sold 12,878 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the transaction, the insider now owns 107,192 shares of the company’s stock, valued at approximately $3,039,965.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total transaction of $251,400.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at approximately $6,838,666.60. The disclosure for this sale can be found here. Insiders have sold 57,878 shares of company stock worth $1,217,370 in the last three months. Corporate insiders own 13.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on RGNX. SVB Leerink raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 target price for the company in a research note on Wednesday, March 6th. Raymond James reaffirmed an “outperform” rating and set a $45.00 price objective on shares of REGENXBIO in a research note on Wednesday, February 21st. Leerink Partnrs raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 6th. Chardan Capital reaffirmed a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Thursday, March 7th. Finally, StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.45.

REGENXBIO Stock Down 2.6 %

The company’s fifty day moving average is $20.02 and its 200 day moving average is $17.84. The stock has a market cap of $769.44 million, a PE ratio of -2.60 and a beta of 1.29.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.16). REGENXBIO had a negative net margin of 291.99% and a negative return on equity of 68.18%. The firm had revenue of $22.30 million during the quarter, compared to analyst estimates of $34.01 million. During the same period last year, the business earned ($1.38) EPS. The firm’s revenue was down 28.8% compared to the same quarter last year. Equities analysts expect that REGENXBIO Inc. will post -3.98 EPS for the current year.

Institutional Trading of REGENXBIO

Several large investors have recently bought and sold shares of RGNX. PNC Financial Services Group Inc. grew its position in REGENXBIO by 73.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 746 shares in the last quarter. Captrust Financial Advisors grew its position in shares of REGENXBIO by 742.1% during the first quarter. Captrust Financial Advisors now owns 960 shares of the biotechnology company’s stock worth $32,000 after buying an additional 846 shares in the last quarter. Royal Bank of Canada grew its position in shares of REGENXBIO by 189.8% during the third quarter. Royal Bank of Canada now owns 1,397 shares of the biotechnology company’s stock worth $37,000 after buying an additional 915 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of REGENXBIO during the fourth quarter worth approximately $38,000. Finally, Point72 Middle East FZE acquired a new stake in shares of REGENXBIO during the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.