REGENXBIO (NASDAQ:RGNX) Hits New 52-Week Low Following Insider Selling

REGENXBIO Inc. (NASDAQ:RGNX) shares reached a new 52-week low during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $10.57 and last traded at $10.65, with a volume of 19439 shares trading hands. The stock had previously closed at $10.75.

Specifically, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $11.27, for a total value of $112,700.00. Following the sale, the director now owns 11,286 shares of the company’s stock, valued at $127,193.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other REGENXBIO news, CEO Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.81, for a total transaction of $237,150.00. Following the completion of the sale, the chief executive officer now owns 408,035 shares of the company’s stock, valued at approximately $6,451,033.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Argeris N. Karabelas sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $11.27, for a total transaction of $112,700.00. Following the completion of the transaction, the director now owns 11,286 shares in the company, valued at $127,193.22. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock valued at $622,700 in the last three months. 13.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on RGNX. SVB Leerink raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 price target on the stock in a report on Wednesday, March 6th. The Goldman Sachs Group assumed coverage on REGENXBIO in a report on Friday, June 7th. They set a “buy” rating and a $38.00 price target for the company. Chardan Capital reiterated a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research report on Thursday, March 7th. Royal Bank of Canada raised shares of REGENXBIO from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $20.00 to $35.00 in a research report on Friday, March 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $38.00 price target on shares of REGENXBIO in a research report on Thursday, June 20th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.58.

REGENXBIO Stock Up 0.7 %

The business’s 50 day simple moving average is $14.28 and its two-hundred day simple moving average is $16.69. The stock has a market cap of $532.99 million, a P/E ratio of -1.84 and a beta of 1.27.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.10). REGENXBIO had a negative return on equity of 70.72% and a negative net margin of 299.96%. The firm had revenue of $15.60 million during the quarter, compared to analyst estimates of $23.52 million. During the same period in the previous year, the company earned ($1.53) EPS. REGENXBIO’s revenue for the quarter was down 18.3% on a year-over-year basis. As a group, research analysts forecast that REGENXBIO Inc. will post -4.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RGNX. PNC Financial Services Group Inc. lifted its holdings in shares of REGENXBIO by 73.5% during the fourth 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 shares of REGENXBIO by 8.3% in the 1st 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 last quarter. Harbor Capital Advisors Inc. increased its stake in shares of REGENXBIO by 2.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 49,549 shares of the biotechnology company’s stock valued at $889,000 after buying an additional 990 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of REGENXBIO by 8.6% during 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 last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of REGENXBIO by 0.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 562,391 shares of the biotechnology company’s stock worth $9,257,000 after acquiring an additional 1,493 shares during the period. Institutional investors own 88.08% of the company’s stock.

REGENXBIO Company Profile

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.