Napatree Capital LLC Takes $720,000 Position in REGENXBIO Inc. (NASDAQ:RGNX)

Napatree Capital LLC purchased a new position in REGENXBIO Inc. (NASDAQ:RGNX) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 40,118 shares of the biotechnology company’s stock, valued at approximately $720,000. Napatree Capital LLC owned about 0.09% of REGENXBIO at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RGNX. PNC Financial Services Group Inc. raised its holdings in REGENXBIO by 73.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after buying an additional 746 shares during the last quarter. Virtu Financial LLC purchased a new position in REGENXBIO in the 4th quarter worth approximately $377,000. Perceptive Advisors LLC bought a new position in REGENXBIO in the 4th quarter valued at approximately $6,146,000. Panagora Asset Management Inc. boosted its stake in REGENXBIO by 2.4% during the 4th quarter. Panagora Asset Management Inc. now owns 222,363 shares of the biotechnology company’s stock valued at $3,991,000 after purchasing an additional 5,184 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of REGENXBIO by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,226,957 shares of the biotechnology company’s stock worth $22,025,000 after purchasing an additional 34,385 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

Insider Buying and Selling at REGENXBIO

In other news, CEO Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.81, for a total value of $237,150.00. Following the completion of the sale, the chief executive officer now owns 408,035 shares in the company, valued at approximately $6,451,033.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 13.13% of the company’s stock.

REGENXBIO Price Performance

Shares of NASDAQ RGNX opened at $11.64 on Tuesday. REGENXBIO Inc. has a 1-year low of $11.56 and a 1-year high of $28.80. The business’s 50 day moving average is $15.60 and its two-hundred day moving average is $17.35.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.28) by ($0.10). The company had revenue of $15.60 million for the quarter, compared to the consensus estimate of $23.52 million. REGENXBIO had a negative net margin of 299.96% and a negative return on equity of 70.72%. The business’s revenue for the quarter was down 18.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.53) EPS. On average, research analysts predict that REGENXBIO Inc. will post -3.9 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RGNX. The Goldman Sachs Group started coverage on REGENXBIO in a report on Friday, June 7th. They set a “buy” rating and a $38.00 price target on the stock. HC Wainwright lifted their price target on shares of REGENXBIO from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Wedbush reiterated a “neutral” rating and set a $21.00 target price on shares of REGENXBIO in a research note on Wednesday, February 28th. Chardan Capital reiterated a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a research note on Thursday, March 7th. Finally, Barclays raised their target price on REGENXBIO from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.58.

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.