REGENXBIO (NASDAQ:RGNX) Hits New 1-Year Low Following Insider Selling

REGENXBIO Inc. (NASDAQ:RGNX)’s stock price reached a new 52-week low during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $10.57 and last traded at $10.65, with a volume of 19439 shares. The stock had previously closed at $10.75.

Specifically, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $11.27, for a total transaction of $112,700.00. Following the completion of the sale, the director now directly owns 11,286 shares in the company, valued at approximately $127,193.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $11.27, for a total value of $112,700.00. Following the completion of the sale, the director now directly owns 11,286 shares in the company, valued at approximately $127,193.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 of the company’s stock, valued at $6,451,033.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,000 shares of company stock worth $622,700. Company insiders own 13.13% of the company’s stock.

Wall Street Analysts Forecast Growth

RGNX has been the subject of several research reports. The Goldman Sachs Group initiated coverage on REGENXBIO in a research note on Friday, June 7th. They issued a “buy” rating and a $38.00 target price for the company. Chardan Capital restated a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research note on Thursday, March 7th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of REGENXBIO in a research report on Thursday, June 20th. SVB Leerink raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 price target on the stock in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $40.00 price target on shares of REGENXBIO in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.58.

REGENXBIO Trading Down 1.3 %

The company’s 50-day simple moving average is $14.38 and its 200 day simple moving average is $16.73. The stock has a market cap of $522.65 million, a P/E ratio of -1.81 and a beta of 1.27.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.28) by ($0.10). REGENXBIO had a negative return on equity of 70.72% and a negative net margin of 299.96%. The firm had revenue of $15.60 million for the quarter, compared to the consensus estimate of $23.52 million. During the same period in the prior year, the business earned ($1.53) EPS. REGENXBIO’s quarterly revenue was down 18.3% compared to the same quarter last year. Research analysts anticipate that REGENXBIO Inc. will post -4.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On REGENXBIO

Several large investors have recently modified their holdings of the stock. Artal Group S.A. purchased a new stake in shares of REGENXBIO during the 1st quarter worth approximately $5,268,000. Redmile Group LLC increased its stake in shares of REGENXBIO by 21.0% during the 1st quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company’s stock worth $95,901,000 after purchasing an additional 790,866 shares during the last quarter. Bellevue Group AG purchased a new stake in shares of REGENXBIO during the 1st quarter worth approximately $253,000. Price T Rowe Associates Inc. MD increased its stake in shares of REGENXBIO by 8.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock worth $383,000 after purchasing an additional 1,438 shares during the last quarter. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of REGENXBIO during the 1st quarter worth approximately $2,318,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

REGENXBIO Company Profile

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.