REGENXBIO (NASDAQ:RGNX) Shares Up 6.6% – Here’s What Happened

Shares of REGENXBIO Inc. (NASDAQ:RGNX) rose 6.6% on Wednesday . The stock traded as high as $10.98 and last traded at $10.98. Approximately 84,712 shares changed hands during trading, a decline of 86% from the average daily volume of 598,695 shares. The stock had previously closed at $10.30.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RGNX. Raymond James reissued an “outperform” rating and issued a $18.00 target price on shares of REGENXBIO in a research report on Thursday, October 10th. HC Wainwright restated a “buy” rating and set a $39.00 target price on shares of REGENXBIO in a research report on Wednesday, September 4th. Barclays dropped their price target on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Finally, StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.45.

REGENXBIO Price Performance

The stock has a 50-day moving average price of $11.36 and a 200-day moving average price of $13.47. The company has a market capitalization of $548.56 million, a P/E ratio of -2.06 and a beta of 1.21.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($1.05) EPS for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.24. The company had revenue of $22.30 million for the quarter, compared to analyst estimates of $22.97 million. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 68.21%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.66) EPS. Sell-side analysts anticipate that REGENXBIO Inc. will post -4.66 EPS for the current fiscal year.

Insider Transactions at REGENXBIO

In other news, Director Argeris N. Karabelas sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.04, for a total transaction of $165,440.00. Following the completion of the sale, the director now owns 11,286 shares of the company’s stock, valued at $169,741.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other REGENXBIO news, Director Argeris N. Karabelas sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.04, for a total value of $165,440.00. Following the completion of the sale, the director now owns 11,286 shares of the company’s stock, valued at approximately $169,741.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Curran Simpson sold 9,648 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.04, for a total value of $145,105.92. Following the completion of the transaction, the chief executive officer now owns 170,137 shares in the company, valued at approximately $2,558,860.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,069 shares of company stock valued at $833,602. Corporate insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

A number of institutional investors and hedge funds have recently modified their holdings of RGNX. Virtu Financial LLC bought a new position in shares of REGENXBIO during the 4th quarter valued at approximately $377,000. PNC Financial Services Group Inc. grew its holdings in REGENXBIO by 73.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 746 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in REGENXBIO by 44.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 106,284 shares of the biotechnology company’s stock worth $2,239,000 after buying an additional 32,584 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of REGENXBIO in the first quarter valued at $56,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of REGENXBIO by 80.3% during 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 last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

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.