REGENXBIO (NASDAQ:RGNX) Shares Gap Down – Should You Sell?

REGENXBIO Inc. (NASDAQ:RGNX)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $13.41, but opened at $9.60. REGENXBIO shares last traded at $11.0250, with a volume of 3,306,818 shares traded.

Wall Street Analyst Weigh In

RGNX has been the subject of several recent analyst reports. Wall Street Zen raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Monday, November 24th. Chardan Capital reaffirmed a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research note on Thursday, November 20th. Barclays began coverage on shares of REGENXBIO in a report on Tuesday. They set an “overweight” rating and a $37.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $34.00 target price on shares of REGENXBIO in a research report on Tuesday, October 7th. Finally, Leerink Partners lifted their target price on shares of REGENXBIO from $16.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, REGENXBIO presently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

REGENXBIO Price Performance

The stock has a market capitalization of $575.75 million, a P/E ratio of -3.30 and a beta of 1.07. The stock’s fifty day moving average is $13.72 and its 200-day moving average is $11.29.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.18. The company had revenue of $29.73 million during the quarter, compared to analysts’ expectations of $24.41 million. REGENXBIO had a negative return on equity of 78.29% and a negative net margin of 110.29%. On average, research analysts expect that REGENXBIO Inc. will post -4.84 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC boosted its holdings in REGENXBIO by 8.6% during the fourth quarter. CWM LLC now owns 73,858 shares of the biotechnology company’s stock valued at $1,064,000 after acquiring an additional 5,823 shares during the period. SG Americas Securities LLC boosted its stake in REGENXBIO by 52.4% during the 4th quarter. SG Americas Securities LLC now owns 40,531 shares of the biotechnology company’s stock valued at $584,000 after purchasing an additional 13,931 shares during the period. Assenagon Asset Management S.A. grew its holdings in REGENXBIO by 64.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock valued at $16,709,000 after buying an additional 454,977 shares during the last quarter. Diversified Trust Co. increased its position in REGENXBIO by 24.3% in the 4th quarter. Diversified Trust Co. now owns 13,378 shares of the biotechnology company’s stock worth $193,000 after buying an additional 2,615 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of REGENXBIO by 13.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 44,429 shares of the biotechnology company’s stock worth $630,000 after buying an additional 5,115 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

REGENXBIO Company Profile

REGENXBIO Inc is a clinical?stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno?associated virus) platform. The company engineers next?generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO’s pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age?related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.