REGENXBIO (NASDAQ:RGNX) Trading Down 6% – What’s Next?

Shares of REGENXBIO Inc. (NASDAQ:RGNX) fell 6% during trading on Tuesday . The company traded as low as $8.28 and last traded at $8.1670. 155,007 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,419,530 shares. The stock had previously closed at $8.69.

Analysts Set New Price Targets

Several research firms recently weighed in on RGNX. Leerink Partners lifted their price objective on shares of REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Barclays cut shares of REGENXBIO from an “overweight” rating to a “hold” rating in a research report on Friday, August 7th. Robert W. Baird dropped their price objective on REGENXBIO from $32.00 to $29.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 25th. Wall Street Zen upgraded REGENXBIO from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of REGENXBIO in a research report on Friday, September 4th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, REGENXBIO presently has an average rating of “Moderate Buy” and a consensus price target of $23.27.

REGENXBIO Stock Down 9.7%

The company has a market capitalization of $518.18 million, a P/E ratio of -2.07 and a beta of 0.94. The business has a fifty day moving average price of $10.49 and a 200 day moving average price of $9.26.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.35. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%.The business had revenue of $108.02 million for the quarter, compared to analyst estimates of $97.63 million. As a group, equities analysts forecast that REGENXBIO Inc. will post -3.91 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Steve Pakola sold 2,161 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total transaction of $29,476.04. Following the completion of the transaction, the insider directly owned 213,009 shares in the company, valued at $2,905,442.76. This represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 58,494 shares of company stock worth $718,232. Insiders own 14.22% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors and hedge funds have recently modified their holdings of RGNX. Versant Capital Management Inc lifted its holdings in REGENXBIO by 60.4% during the 2nd quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 1,032 shares during the last quarter. Quantbot Technologies LP acquired a new position in REGENXBIO in the second quarter valued at about $51,000. Legal & General Group Plc bought a new stake in REGENXBIO during the second quarter worth about $56,000. Entropy Technologies LP bought a new stake in REGENXBIO during the first quarter worth about $87,000. Finally, Diversified Trust Co increased its holdings in 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 buying an additional 2,121 shares during the period. 88.08% of the stock is owned by institutional investors.

About REGENXBIO

REGENXBIO Inc is a biotechnology company focused on developing gene therapies for serious diseases with limited treatment options. The company uses its proprietary NAV AAV Gene Delivery Platform to design adeno-associated virus (AAV) vectors intended to deliver therapeutic genes to targeted cells and tissues.

REGENXBIO’s pipeline has included investigational therapies for rare and genetic disorders, including Duchenne muscular dystrophy, Hunter syndrome, severe mucopolysaccharidosis type I, and homozygous familial hypercholesterolemia.