Point72 Asia Singapore Pte. Ltd. Makes New $447,000 Investment in REGENXBIO Inc. (NASDAQ:RGNX)

Point72 Asia Singapore Pte. Ltd. purchased a new position in REGENXBIO Inc. (NASDAQ:RGNX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,841 shares of the biotechnology company’s stock, valued at approximately $447,000. Point72 Asia Singapore Pte. Ltd. owned 0.12% of REGENXBIO at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RGNX. JPMorgan Chase & Co. lifted its stake in shares of REGENXBIO by 67.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company’s stock valued at $31,975,000 after buying an additional 1,659,206 shares in the last quarter. Millennium Management LLC lifted its position in shares of REGENXBIO by 406.3% in the fourth quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company’s stock valued at $10,222,000 after acquiring an additional 1,061,187 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of REGENXBIO in the fourth quarter worth about $3,865,000. Norges Bank purchased a new stake in shares of REGENXBIO during the fourth quarter worth about $3,474,000. Finally, Cubist Systematic Strategies LLC bought a new stake in REGENXBIO during the 4th quarter valued at approximately $2,793,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RGNX has been the subject of several recent analyst reports. Morgan Stanley upped their price target on REGENXBIO from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Leerink Partners set a $24.00 price target on shares of REGENXBIO in a report on Tuesday, March 18th. Chardan Capital reissued a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a report on Thursday, March 20th. Raymond James assumed coverage on REGENXBIO in a report on Friday, February 7th. They issued an “outperform” rating and a $27.00 target price on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $30.00 price target on shares of REGENXBIO in a research note on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.63.

REGENXBIO Trading Up 3.7%

Shares of NASDAQ:RGNX opened at $8.64 on Friday. The company has a market cap of $433.01 million, a price-to-earnings ratio of -1.72 and a beta of 1.11. REGENXBIO Inc. has a 12 month low of $5.04 and a 12 month high of $16.26. The company has a 50-day moving average price of $7.48 and a 200 day moving average price of $7.98.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.29). The company had revenue of $89.01 million for the quarter, compared to analysts’ expectations of $105.35 million. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. As a group, equities analysts forecast that REGENXBIO Inc. will post -4.84 EPS for the current year.

Insider Activity at REGENXBIO

In other REGENXBIO news, Director Kenneth T. Mills sold 20,602 shares of REGENXBIO stock in a transaction on Monday, May 12th. The shares were sold at an average price of $7.91, for a total transaction of $162,961.82. Following the completion of the transaction, the director now directly owns 475,103 shares of the company’s stock, valued at $3,758,064.73. The trade was a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.79% of the stock is currently owned by insiders.

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.