REGENXBIO (NASDAQ:RGNX) Shares Up 5.9%

Shares of REGENXBIO Inc. (NASDAQ:RGNX) shot up 5.9% during mid-day trading on Tuesday . The company traded as high as $13.56 and last traded at $13.52. 104,093 shares changed hands during trading, a decline of 84% from the average session volume of 639,662 shares. The stock had previously closed at $12.77.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RGNX. The Goldman Sachs Group began coverage on REGENXBIO in a research note on Friday, June 7th. They set a “buy” rating and a $38.00 price target for the company. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 target price on shares of REGENXBIO in a report on Friday, April 12th. Finally, HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of REGENXBIO in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, REGENXBIO presently has a consensus rating of “Moderate Buy” and an average target price of $38.58.

REGENXBIO Trading Up 5.5 %

The company has a 50-day moving average of $13.11 and a 200-day moving average of $16.05. The company has a market capitalization of $708.85 million, a price-to-earnings ratio of -2.45 and a beta of 1.26.

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

Insider Activity

In other news, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $15.81, for a total value of $237,150.00. Following the transaction, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at $6,451,033.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 transaction of $112,700.00. Following the sale, the director now directly owns 11,286 shares of the company’s stock, valued at $127,193.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $15.81, for a total value of $237,150.00. Following the sale, the chief executive officer now directly owns 408,035 shares in the company, valued at $6,451,033.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,210 shares of company stock valued at $380,282. Company insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new stake in REGENXBIO during the fourth quarter worth about $1,915,000. Perceptive Advisors LLC acquired a new stake in REGENXBIO during the fourth quarter worth about $6,146,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in REGENXBIO by 80.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 170,218 shares of the biotechnology company’s stock worth $3,586,000 after acquiring an additional 75,800 shares during the period. Virtu Financial LLC acquired a new stake in REGENXBIO during the fourth quarter worth about $377,000. Finally, BNP Paribas Financial Markets grew its holdings in REGENXBIO by 174.4% during the fourth quarter. BNP Paribas Financial Markets now owns 67,760 shares of the biotechnology company’s stock worth $1,216,000 after acquiring an additional 43,070 shares during the period. 88.08% of the stock is 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.