REGENXBIO Inc. (NASDAQ:RGNX) Director Kenneth T. Mills Sells 20,602 Shares of Stock

REGENXBIO Inc. (NASDAQ:RGNX) Director Kenneth T. Mills sold 20,602 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $7.91, for a total value of $162,961.82. Following the completion of the sale, the director now directly owns 475,103 shares in the company, valued at $3,758,064.73. This trade represents a 4.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

REGENXBIO Stock Up 1.8%

NASDAQ RGNX opened at $8.33 on Thursday. REGENXBIO Inc. has a twelve month low of $5.04 and a twelve month high of $16.85. The stock has a market cap of $417.47 million, a P/E ratio of -1.66 and a beta of 1.11. The company’s 50-day simple moving average is $7.43 and its 200 day simple moving average is $7.99.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.29). REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. The company had revenue of $89.01 million for the quarter, compared to analyst estimates of $105.35 million. Research analysts anticipate that REGENXBIO Inc. will post -4.84 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on RGNX shares. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, March 7th. HC Wainwright reduced their target price on shares of REGENXBIO from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Leerink Partners set a $24.00 target price on REGENXBIO in a research report on Tuesday, March 18th. Morgan Stanley upped their price target on REGENXBIO from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Finally, Raymond James assumed coverage on REGENXBIO in a report on Friday, February 7th. They set an “outperform” rating and a $27.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.63.

Institutional Trading of REGENXBIO

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in shares of REGENXBIO by 67.0% in the 4th quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company’s stock valued at $31,975,000 after purchasing an additional 1,659,206 shares in the last quarter. Millennium Management LLC increased its position in shares of REGENXBIO by 406.3% during the 4th quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company’s stock worth $10,222,000 after purchasing an additional 1,061,187 shares in the last quarter. 22NW LP bought a new position in REGENXBIO during the 1st quarter valued at about $4,781,000. Adage Capital Partners GP L.L.C. acquired a new position in REGENXBIO in the fourth quarter valued at about $3,865,000. Finally, Vanguard Group Inc. boosted its position in REGENXBIO by 16.3% in the first quarter. Vanguard Group Inc. now owns 3,472,988 shares of the biotechnology company’s stock valued at $24,832,000 after buying an additional 487,036 shares in the last quarter. 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.