Bank of New York Mellon Corp Buys 28,846 Shares of REGENXBIO Inc. (NASDAQ:RGNX)

Bank of New York Mellon Corp grew its stake in shares of REGENXBIO Inc. (NASDAQ:RGNX) by 9.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 339,514 shares of the biotechnology company’s stock after buying an additional 28,846 shares during the period. Bank of New York Mellon Corp owned approximately 0.69% of REGENXBIO worth $3,972,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in RGNX. Perceptive Advisors LLC acquired a new stake in shares of REGENXBIO during the 4th quarter worth approximately $6,146,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in REGENXBIO by 80.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 170,218 shares of the biotechnology company’s stock valued at $3,586,000 after buying an additional 75,800 shares during the period. Virtu Financial LLC acquired a new position in shares of REGENXBIO in the 4th quarter valued at $377,000. ProShare Advisors LLC lifted its holdings in shares of REGENXBIO by 8.3% during the 1st quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock worth $240,000 after acquiring an additional 874 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of REGENXBIO by 174.4% during the 4th quarter. BNP Paribas Financial Markets now owns 67,760 shares of the biotechnology company’s stock worth $1,216,000 after acquiring an additional 43,070 shares during the period. Institutional investors own 88.08% of the company’s stock.

Insider Buying and Selling at REGENXBIO

In other news, Director Argeris N. Karabelas sold 10,000 shares of the 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 sale, the director now owns 11,286 shares of the company’s stock, valued at $127,193.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kenneth T. Mills sold 12,221 shares of REGENXBIO stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $13.78, for a total value of $168,405.38. Following the sale, the director now directly owns 408,035 shares in the company, valued at $5,622,722.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $11.27, for a total transaction of $112,700.00. Following the completion of the sale, the director now directly owns 11,286 shares in the company, valued at approximately $127,193.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,279 shares of company stock valued at $875,634. 13.13% of the stock is currently owned by corporate insiders.

REGENXBIO Stock Up 5.4 %

RGNX opened at $12.84 on Friday. The stock has a market cap of $634.55 million, a P/E ratio of -2.18 and a beta of 1.22. REGENXBIO Inc. has a 12 month low of $10.49 and a 12 month high of $28.80. The company has a fifty day simple moving average of $12.42 and a 200 day simple moving average of $15.33.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RGNX shares. The Goldman Sachs Group initiated coverage on shares of REGENXBIO in a research report on Friday, June 7th. They issued a “buy” rating and a $38.00 price target for the company. Barclays cut their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. StockNews.com cut REGENXBIO from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, HC Wainwright reissued a “buy” rating and set a $39.00 price objective on shares of REGENXBIO in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.91.

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.