Franklin Resources Inc. lowered its stake in Regenxbio Inc (NASDAQ:RGNX) by 12.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 647,676 shares of the biotechnology company’s stock after selling 95,800 shares during the quarter. Franklin Resources Inc. owned approximately 1.81% of Regenxbio worth $48,900,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of RGNX. Meadow Creek Investment Management LLC bought a new position in Regenxbio in the 2nd quarter worth about $141,000. Russell Investments Group Ltd. bought a new position in Regenxbio in the 2nd quarter worth about $157,000. Glen Harbor Capital Management LLC bought a new position in Regenxbio in the 2nd quarter worth about $171,000. SG Americas Securities LLC bought a new position in Regenxbio in the 2nd quarter worth about $179,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Regenxbio in the 3rd quarter worth about $190,000. Institutional investors and hedge funds own 79.08% of the company’s stock.
A number of brokerages have recently issued reports on RGNX. ValuEngine downgraded Regenxbio from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 11th. BidaskClub downgraded Regenxbio from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Barclays lifted their price target on Regenxbio from $48.00 to $83.00 and gave the company an “overweight” rating in a research report on Monday, August 13th. Raymond James set a $96.00 price target on Regenxbio and gave the company a “buy” rating in a research report on Thursday, November 8th. Finally, Bank of America lifted their price target on Regenxbio from $76.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, November 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $77.81.
In other news, CFO Vittal Vasista sold 7,500 shares of Regenxbio stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $74.86, for a total transaction of $561,450.00. Following the completion of the sale, the chief financial officer now owns 120,722 shares in the company, valued at approximately $9,037,248.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Curran Simpson sold 62,309 shares of Regenxbio stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $60.85, for a total value of $3,791,502.65. Following the sale, the senior vice president now owns 86,017 shares of the company’s stock, valued at approximately $5,234,134.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 448,954 shares of company stock valued at $28,902,916. Corporate insiders own 16.90% of the company’s stock.
Shares of RGNX opened at $52.44 on Friday. The stock has a market cap of $1.96 billion, a PE ratio of -21.40, a price-to-earnings-growth ratio of 8.05 and a beta of -0.53. Regenxbio Inc has a 12-month low of $23.25 and a 12-month high of $85.10.
Regenxbio (NASDAQ:RGNX) last issued its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.86) by $0.30. The firm had revenue of $5.31 million during the quarter. Regenxbio had a return on equity of 22.52% and a net margin of 44.30%. On average, sell-side analysts forecast that Regenxbio Inc will post 2.23 earnings per share for the current year.
REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.
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