REGENXBIO (NASDAQ:RGNX) Shares Cross Below Fifty Day Moving Average – Here’s Why

REGENXBIO Inc. (NASDAQ:RGNX) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $8.35 and traded as low as $6.62. REGENXBIO shares last traded at $6.89, with a volume of 1,518,385 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RGNX. Robert W. Baird set a $27.00 target price on REGENXBIO in a research report on Tuesday, February 10th. Wall Street Zen lowered REGENXBIO from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Bank of America cut their price objective on REGENXBIO from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Chardan Capital reduced their price objective on REGENXBIO from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Finally, The Goldman Sachs Group decreased their target price on REGENXBIO from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, February 10th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, REGENXBIO presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.91.

REGENXBIO Trading Up 3.0%

The stock has a market capitalization of $356.21 million, a PE ratio of -1.23 and a beta of 1.12. The business’s 50-day moving average is $8.35 and its two-hundred day moving average is $10.60.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Thursday, May 14th. The biotechnology company reported ($1.72) EPS for the quarter, missing the consensus estimate of ($1.36) by ($0.36). REGENXBIO had a negative net margin of 330.23% and a negative return on equity of 232.50%. The company had revenue of $6.39 million during the quarter, compared to analysts’ expectations of $25.84 million. On average, analysts predict that REGENXBIO Inc. will post -3.32 EPS for the current year.

Insider Buying and Selling

In related news, insider Steve Pakola sold 15,309 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $11.02, for a total transaction of $168,705.18. Following the transaction, the insider directly owned 232,617 shares of the company’s stock, valued at approximately $2,563,439.34. The trade was a 6.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 14.22% of the company’s stock.

Institutional Trading of REGENXBIO

Hedge funds have recently made changes to their positions in the company. Aquatic Capital Management LLC purchased a new position in shares of REGENXBIO in the third quarter valued at $37,000. Jones Financial Companies Lllp grew its holdings in REGENXBIO by 44.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 1,270 shares in the last quarter. Captrust Financial Advisors purchased a new stake in REGENXBIO during the 2nd quarter worth $85,000. Entropy Technologies LP purchased a new stake in REGENXBIO during the 1st quarter worth $87,000. Finally, Prudential Financial Inc. acquired a new position in shares of REGENXBIO in the second quarter worth about $87,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

About REGENXBIO

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.