REGENXBIO (NASDAQ:RGNX) Stock Price Down 9.8% – Here’s What Happened

REGENXBIO Inc. (NASDAQ:RGNX)’s share price fell 9.8% on Monday . The stock traded as low as $11.61 and last traded at $11.5160. 231,742 shares were traded during trading, a decline of 73% from the average session volume of 867,296 shares. The stock had previously closed at $12.77.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RGNX. Wall Street Zen downgraded REGENXBIO from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $34.00 price target on shares of REGENXBIO in a research report on Tuesday, October 7th. Royal Bank Of Canada reduced their price target on shares of REGENXBIO from $21.00 to $17.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Barclays cut their price target on REGENXBIO from $50.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a report on Monday, September 8th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.38.

REGENXBIO Stock Performance

The firm’s 50 day moving average is $10.52 and its 200-day moving average is $9.35. The firm has a market cap of $612.79 million, a price-to-earnings ratio of -3.53 and a beta of 1.17.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.25). REGENXBIO had a negative net margin of 112.70% and a negative return on equity of 66.95%. The business had revenue of $21.36 million during the quarter, compared to analyst estimates of $40.87 million. As a group, research analysts predict that REGENXBIO Inc. will post -4.84 EPS for the current year.

Insider Buying and Selling

In other REGENXBIO news, CEO Curran Simpson sold 20,811 shares of the business’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $12.62, for a total value of $262,634.82. Following the transaction, the chief executive officer directly owned 216,162 shares in the company, valued at $2,727,964.44. The trade was a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 36,169 shares of company stock valued at $416,598 in the last quarter. 12.79% of the stock is owned by insiders.

Hedge Funds Weigh In On REGENXBIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new position in REGENXBIO in the third quarter valued at about $25,000. Brooklyn Investment Group boosted its position in REGENXBIO by 163.7% in the first quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 3,466 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in REGENXBIO by 754.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 5,000 shares in the last quarter. Captrust Financial Advisors acquired a new position in REGENXBIO in the second quarter valued at about $85,000. Finally, Prudential Financial Inc. acquired a new position in shares of REGENXBIO during the second quarter worth approximately $87,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.