REGENXBIO (NASDAQ:RGNX) Stock Price Down 3.1% Following Insider Selling

REGENXBIO Inc. (NASDAQ:RGNX)’s share price was down 3.1% on Thursday after an insider sold shares in the company. The company traded as low as $16.21 and last traded at $16.50. Approximately 113,665 shares changed hands during trading, a decline of 84% from the average daily volume of 729,422 shares. The stock had previously closed at $17.03.

Specifically, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $18.19, for a total value of $272,850.00. Following the sale, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at $7,422,156.65. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $18.19, for a total value of $272,850.00. Following the sale, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at $7,422,156.65. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Steve Pakola sold 12,878 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the sale, the insider now directly owns 107,192 shares in the company, valued at $3,039,965.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,878 shares of company stock valued at $1,217,370. Insiders own 13.13% of the company’s stock.

Analyst Ratings Changes

RGNX has been the topic of a number of research analyst reports. Robert W. Baird upped their price target on REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Raymond James reissued an “outperform” rating and issued a $45.00 target price on shares of REGENXBIO in a report on Wednesday, February 21st. Royal Bank of Canada raised REGENXBIO from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $20.00 to $35.00 in a report on Friday, March 8th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $40.00 target price on shares of REGENXBIO in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.45.

REGENXBIO Stock Down 5.4 %

The firm has a 50 day moving average price of $20.03 and a 200 day moving average price of $17.84. The stock has a market cap of $790.03 million, a P/E ratio of -2.67 and a beta of 1.29.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.16). REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The company had revenue of $22.30 million during the quarter, compared to the consensus estimate of $34.01 million. During the same period last year, the business earned ($1.38) EPS. The firm’s quarterly revenue was down 28.8% compared to the same quarter last year. Equities analysts predict that REGENXBIO Inc. will post -3.98 earnings per share for the current fiscal year.

Institutional Trading of REGENXBIO

Several institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of REGENXBIO during the first quarter worth about $56,000. Hennion & Walsh Asset Management Inc. grew its position in shares of REGENXBIO by 44.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 106,284 shares of the biotechnology company’s stock worth $2,239,000 after purchasing an additional 32,584 shares in the last quarter. Napatree Capital LLC purchased a new stake in shares of REGENXBIO during the fourth quarter worth about $720,000. PNC Financial Services Group Inc. grew its position in shares of 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 purchasing an additional 746 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of REGENXBIO by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,440,838 shares of the biotechnology company’s stock worth $79,713,000 after purchasing an additional 64,265 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.