REGENXBIO (NASDAQ:RGNX) Trading Up 9.2% – Here’s What Happened

REGENXBIO Inc. (NASDAQ:RGNX) traded up 9.2% on Friday . The company traded as high as $14.48 and last traded at $14.7490. 134,849 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 837,168 shares. The stock had previously closed at $13.51.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RGNX shares. Wall Street Zen raised REGENXBIO from a “sell” rating to a “hold” rating in a research note on Monday, November 24th. Chardan Capital reiterated a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research note on Thursday, November 20th. Stifel Nicolaus increased their price target on shares of REGENXBIO from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank Of Canada raised their price target on shares of REGENXBIO from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $34.00 price objective on shares of REGENXBIO in a report on Tuesday, October 7th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

REGENXBIO Stock Up 9.1%

The stock’s 50-day moving average price is $12.38 and its 200 day moving average price is $10.21. The company has a market cap of $746.39 million, a P/E ratio of -4.25 and a beta of 1.14.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.18. The business had revenue of $29.73 million for the quarter, compared to analyst estimates of $24.41 million. REGENXBIO had a negative net margin of 110.29% and a negative return on equity of 78.29%. Analysts expect that REGENXBIO Inc. will post -4.84 earnings per share for the current fiscal year.

Insider Activity at REGENXBIO

In related news, 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RGNX. State of Alaska Department of Revenue acquired a new position in shares of REGENXBIO during the third quarter worth approximately $25,000. Aquatic Capital Management LLC bought a new position in REGENXBIO during the third quarter worth $37,000. Jones Financial Companies Lllp raised its stake in REGENXBIO by 44.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 1,270 shares during the last quarter. Brooklyn Investment Group boosted its holdings in REGENXBIO by 163.7% in the 1st quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 3,466 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in REGENXBIO by 754.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 5,000 shares during the period. 88.08% of the stock is owned by institutional investors.

About REGENXBIO

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.