Steve Pakola Sells 19,608 Shares of REGENXBIO (NASDAQ:RGNX) Stock

REGENXBIO Inc. (NASDAQ:RGNX) insider Steve Pakola sold 19,608 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $11.04, for a total transaction of $216,472.32. Following the completion of the sale, the insider directly owned 213,009 shares in the company, valued at $2,351,619.36. This represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Steve Pakola also recently made the following trade(s):

• On Wednesday, July 1st, Steve Pakola sold 36,725 shares of REGENXBIO stock. The shares were sold at an average price of $12.86, for a total transaction of $472,283.50.
• On Monday, May 11th, Steve Pakola sold 15,309 shares of REGENXBIO stock. The shares were sold at an average price of $11.02, for a total transaction of $168,705.18.

REGENXBIO Stock Performance

Shares of REGENXBIO stock traded up $1.11 during midday trading on Wednesday, hitting $13.09. The company had a trading volume of 4,456,460 shares, compared to its average volume of 2,291,967. The stock has a market capitalization of $676.75 million, a P/E ratio of -2.34 and a beta of 0.90. The company has a 50 day moving average of $8.12 and a 200 day moving average of $9.91. REGENXBIO Inc. has a 52-week low of $5.45 and a 52-week high of $16.19.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings data on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.36). REGENXBIO had a negative net margin of 330.23% and a negative return on equity of 232.50%. The company had revenue of $6.39 million for the quarter, compared to analysts’ expectations of $25.84 million. Equities research analysts forecast that REGENXBIO Inc. will post -3.69 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Leerink Partners increased their price objective on shares of REGENXBIO from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. HC Wainwright reiterated a “buy” rating and set a $26.00 price target on shares of REGENXBIO in a report on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of REGENXBIO in a report on Monday, June 8th. Robert W. Baird upped their price objective on REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Finally, Morgan Stanley set a $16.00 target price on REGENXBIO in a report on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.82.

Institutional Investors Weigh In On REGENXBIO

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of REGENXBIO by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company’s stock worth $38,959,000 after buying an additional 185,223 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in REGENXBIO during the third quarter valued at $4,120,000. Assenagon Asset Management S.A. lifted its holdings in REGENXBIO by 64.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock valued at $16,709,000 after acquiring an additional 454,977 shares during the period. Integral Health Asset Management LLC lifted its holdings in REGENXBIO by 57.1% in the third quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock valued at $10,615,000 after acquiring an additional 400,000 shares during the period. Finally, Royce & Associates LP purchased a new position in REGENXBIO in the fourth quarter worth about $1,714,000. Institutional investors own 88.08% of the company’s stock.

REGENXBIO Company Profile

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.