Redmile Group LLC Has $95.90 Million Stock Position in REGENXBIO Inc. (NASDAQ:RGNX)

Redmile Group LLC increased its position in REGENXBIO Inc. (NASDAQ:RGNX) by 21.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,551,556 shares of the biotechnology company’s stock after purchasing an additional 790,866 shares during the period. REGENXBIO makes up 3.5% of Redmile Group LLC’s investment portfolio, making the stock its 6th largest holding. Redmile Group LLC owned about 0.09% of REGENXBIO worth $95,901,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. raised 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 worth $32,000 after buying an additional 746 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of REGENXBIO in the 1st quarter worth about $56,000. Headlands Technologies LLC lifted its position in REGENXBIO by 276.8% in the 1st quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock valued at $81,000 after acquiring an additional 2,812 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in REGENXBIO by 352.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,093 shares of the biotechnology company’s stock valued at $91,000 after acquiring an additional 3,968 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in REGENXBIO by 8.3% during the 1st quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock valued at $240,000 after purchasing an additional 874 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Trading Up 0.1 %

Shares of NASDAQ:RGNX traded up $0.02 during mid-day trading on Monday, reaching $14.35. The company had a trading volume of 845,592 shares, compared to its average volume of 639,938. The company’s 50-day moving average price is $13.01 and its 200-day moving average price is $16.06. REGENXBIO Inc. has a one year low of $10.49 and a one year high of $28.80. The firm has a market cap of $706.88 million, a price-to-earnings ratio of -2.44 and a beta of 1.27.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $15.60 million for the quarter, compared to analysts’ expectations of $23.52 million. During the same period in the prior year, the company earned ($1.53) EPS. The firm’s quarterly revenue was down 18.3% on a year-over-year basis. On average, research analysts anticipate that REGENXBIO Inc. will post -4.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $11.27, for a total value of $112,700.00. Following the sale, the director now owns 11,286 shares of the company’s stock, valued at $127,193.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other REGENXBIO news, Director Kenneth T. Mills sold 2,210 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $13.77, for a total value of $30,431.70. Following the completion of the transaction, the director now owns 408,035 shares in the company, valued at approximately $5,618,641.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $11.27, for a total value of $112,700.00. Following the transaction, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $127,193.22. The disclosure for this sale can be found here. Insiders sold 39,431 shares of company stock worth $548,687 over the last quarter. 13.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

REGENXBIO 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.