REGENXBIO (NASDAQ:RGNX) Shares Down 4.7% Following Insider Selling

REGENXBIO Inc. (NASDAQ:RGNX) shares dropped 4.7% during mid-day trading on Friday following insider selling activity. The company traded as low as $11.75 and last traded at $11.60. Approximately 67,812 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 892,907 shares. The stock had previously closed at $12.17.

Specifically, CEO Curran Simpson sold 20,811 shares of the business’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $12.62, for a total transaction of $262,634.82. Following the completion of the transaction, the chief executive officer directly owned 216,162 shares of the company’s stock, valued at approximately $2,727,964.44. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

RGNX has been the subject of a number of analyst reports. Royal Bank Of Canada lowered their price objective on REGENXBIO from $21.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Chardan Capital reaffirmed a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a report on Monday, September 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of REGENXBIO in a report on Wednesday. Wall Street Zen downgraded REGENXBIO from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price target on shares of REGENXBIO in a report on Tuesday, October 7th. Five 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 company’s stock. According to MarketBeat.com, REGENXBIO currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.38.

REGENXBIO Stock Down 10.3%

The firm has a market capitalization of $551.57 million, a price-to-earnings ratio of -3.17 and a beta of 1.17. The company has a fifty day moving average price of $9.27 and a two-hundred day moving average price of $8.67.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.25). The firm had revenue of $21.36 million during the quarter, compared to analyst estimates of $40.87 million. REGENXBIO had a negative net margin of 112.70% and a negative return on equity of 66.95%. On average, equities analysts anticipate that REGENXBIO Inc. will post -4.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On REGENXBIO

Large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new stake in shares of REGENXBIO during the first quarter worth approximately $35,000. Brooklyn Investment Group raised its stake in shares of REGENXBIO by 163.7% during the first quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 3,466 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of REGENXBIO by 754.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 5,000 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of REGENXBIO during the second quarter worth approximately $85,000. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of REGENXBIO during the first quarter worth approximately $74,000. Hedge funds and other 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.