Y Intercept Hong Kong Ltd Invests $2.31 Million in REGENXBIO Inc. $RGNX

Y Intercept Hong Kong Ltd acquired a new position in shares of REGENXBIO Inc. (NASDAQ:RGNX) during the first quarter, HoldingsChannel reports. The firm acquired 275,021 shares of the biotechnology company’s stock, valued at approximately $2,305,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Diversified Trust Co raised its stake in shares of REGENXBIO by 15.9% in the 1st quarter. Diversified Trust Co now owns 15,499 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 2,121 shares during the period. Invesco Ltd. grew its stake in shares of REGENXBIO by 5.4% during the 4th quarter. Invesco Ltd. now owns 157,903 shares of the biotechnology company’s stock worth $2,274,000 after acquiring an additional 8,023 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of REGENXBIO by 21.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 24,140 shares of the biotechnology company’s stock worth $348,000 after acquiring an additional 4,224 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of REGENXBIO in the fourth quarter valued at approximately $490,000. Finally, Virtus Investment Advisers LLC raised its holdings in shares of REGENXBIO by 71.9% in the fourth quarter. Virtus Investment Advisers LLC now owns 19,181 shares of the biotechnology company’s stock valued at $276,000 after purchasing an additional 8,026 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Steve Pakola sold 2,161 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total value of $29,476.04. Following the sale, the insider directly owned 213,009 shares of the company’s stock, valued at approximately $2,905,442.76. This represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 73,803 shares of company stock valued at $886,937. 14.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RGNX has been the subject of several recent research reports. Barclays reduced their target price on shares of REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, May 15th. Leerink Partners boosted their price target on shares of REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Robert W. Baird increased their price objective on shares of REGENXBIO from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. HC Wainwright restated a “buy” rating and issued a $26.00 price objective on shares of REGENXBIO in a report on Wednesday, July 1st. Finally, Morgan Stanley set a $16.00 target price on REGENXBIO in a research report on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.82.

REGENXBIO Trading Up 1.4%

NASDAQ:RGNX opened at $15.23 on Thursday. The stock has a market capitalization of $787.39 million, a PE ratio of -2.72 and a beta of 0.90. REGENXBIO Inc. has a 1-year low of $5.45 and a 1-year high of $16.19. The firm has a fifty day simple moving average of $8.66 and a 200 day simple moving average of $9.93.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.36). The firm had revenue of $6.39 million for the quarter, compared to the consensus estimate of $25.84 million. REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%. On average, equities analysts predict that REGENXBIO Inc. will post -3.69 earnings per share for the current fiscal year.

REGENXBIO Profile

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO’s pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.