REGENXBIO (NASDAQ:RGNX) Stock Price Down 8.5%

REGENXBIO Inc. (NASDAQ:RGNX)’s stock price traded down 8.5% during trading on Tuesday . The stock traded as low as $11.18 and last traded at $11.18. 195,024 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 607,516 shares. The stock had previously closed at $12.22.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays reduced their price target on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, August 5th. StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. HC Wainwright reiterated a “buy” rating and set a $39.00 price objective on shares of REGENXBIO in a research note on Wednesday. Finally, The Goldman Sachs Group assumed coverage on shares of REGENXBIO in a research note on Friday, June 7th. They set a “buy” rating and a $38.00 price objective for the company. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.91.

REGENXBIO Trading Up 0.9 %

The firm’s fifty day moving average price is $12.29 and its 200 day moving average price is $15.59. The firm has a market capitalization of $562.40 million, a PE ratio of -1.94 and a beta of 1.22.

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 analysts’ consensus estimates of ($1.29) by $0.24. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 68.21%. The firm had revenue of $22.30 million for the quarter, compared to the consensus estimate of $22.97 million. During the same period in the prior year, the firm posted ($1.66) earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts predict that REGENXBIO Inc. will post -4.66 earnings per share for the current year.

Insiders Place Their Bets

In other REGENXBIO news, Director Kenneth T. Mills sold 2,210 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $13.77, for a total transaction of $30,431.70. Following the completion of the transaction, the director now directly owns 408,035 shares in the company, valued at $5,618,641.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kenneth T. Mills sold 12,221 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $13.78, for a total value of $168,405.38. Following the completion of the sale, the director now directly owns 408,035 shares in the company, valued at $5,622,722.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth T. Mills sold 2,210 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $13.77, for a total transaction of $30,431.70. Following the completion of the sale, the director now owns 408,035 shares of the company’s stock, valued at $5,618,641.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,279 shares of company stock worth $875,634. Company insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lion Point Capital LP increased its position in REGENXBIO by 11.5% during the second quarter. Lion Point Capital LP now owns 36,250 shares of the biotechnology company’s stock worth $424,000 after purchasing an additional 3,750 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in REGENXBIO by 19.6% during the second quarter. The Manufacturers Life Insurance Company now owns 18,375 shares of the biotechnology company’s stock worth $215,000 after purchasing an additional 3,015 shares during the last quarter. Millennium Management LLC boosted its stake in REGENXBIO by 84.8% during the second quarter. Millennium Management LLC now owns 306,487 shares of the biotechnology company’s stock worth $3,586,000 after buying an additional 140,666 shares during the period. AQR Capital Management LLC purchased a new position in REGENXBIO during the second quarter worth about $238,000. Finally, Squarepoint Ops LLC boosted its stake in REGENXBIO by 630.9% during the second quarter. Squarepoint Ops LLC now owns 146,259 shares of the biotechnology company’s stock worth $1,711,000 after buying an additional 126,249 shares during the period. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.