REGENXBIO (NASDAQ:RGNX) Trading Down 6.4% – Time to Sell?

REGENXBIO Inc. (NASDAQ:RGNX)’s stock price traded down 6.4% during trading on Monday . The stock traded as low as $10.38 and last traded at $10.39. 365,395 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 597,460 shares. The stock had previously closed at $11.10.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RGNX. HC Wainwright reiterated a “buy” rating and set a $39.00 price objective on shares of REGENXBIO in a research note on Wednesday, September 4th. Barclays dropped their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Finally, Raymond James restated an “outperform” rating and set a $18.00 price objective on shares of REGENXBIO in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.45.

REGENXBIO Stock Performance

The stock’s 50 day simple moving average is $11.35 and its 200-day simple moving average is $13.30. The firm has a market cap of $510.78 million, a price-to-earnings ratio of -1.77 and a beta of 1.21.

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

Insider Buying and Selling

In related news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total value of $101,100.00. Following the transaction, the director now owns 11,286 shares in the company, valued at approximately $114,101.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Argeris N. Karabelas sold 10,100 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $13.51, for a total value of $136,451.00. Following the completion of the transaction, the director now owns 11,286 shares of the company’s stock, valued at $152,473.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Argeris N. Karabelas sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total value of $101,100.00. Following the completion of the sale, the director now owns 11,286 shares in the company, valued at $114,101.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,069 shares of company stock valued at $833,602 over the last quarter. 13.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RGNX. PNC Financial Services Group Inc. grew its stake in shares of REGENXBIO by 73.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 746 shares during the period. ProShare Advisors LLC grew its position in REGENXBIO by 8.3% during the first 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 period. Maryland State Retirement & Pension System increased its holdings in REGENXBIO by 7.2% in the second quarter. Maryland State Retirement & Pension System now owns 15,800 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 1,067 shares in the last quarter. Amalgamated Bank raised its position in shares of REGENXBIO by 9.9% in the second quarter. Amalgamated Bank now owns 13,613 shares of the biotechnology company’s stock worth $159,000 after acquiring an additional 1,227 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of REGENXBIO by 8.6% in the first 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. 88.08% of the stock is owned by institutional investors and hedge funds.

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.