Assenagon Asset Management S.A. Decreases Position in REGENXBIO Inc. $RGNX

Assenagon Asset Management S.A. trimmed its position in REGENXBIO Inc. (NASDAQ:RGNX) by 15.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 980,611 shares of the biotechnology company’s stock after selling 179,769 shares during the quarter. Assenagon Asset Management S.A.’s holdings in REGENXBIO were worth $8,218,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in REGENXBIO by 2,247.7% in the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock valued at $4,437,000 after purchasing an additional 594,161 shares in the last quarter. Invenomic Capital Management LP purchased a new position in shares of REGENXBIO in the third quarter worth about $4,120,000. Integral Health Asset Management LLC lifted its stake in shares of REGENXBIO by 57.1% in the third quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $10,615,000 after buying an additional 400,000 shares in the last quarter. State Street Corp boosted its position in REGENXBIO by 15.2% during the fourth quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock worth $32,929,000 after acquiring an additional 301,858 shares during the last quarter. Finally, GSK plc acquired a new position in REGENXBIO during the fourth quarter worth about $3,909,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Robert W. Baird increased their price objective on shares of REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Bank of America lowered their target price on REGENXBIO from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Barclays dropped their price target on REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of REGENXBIO in a report on Monday, June 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $26.00 price objective on shares of REGENXBIO in a research report on Wednesday, June 24th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.82.

Insider Activity

In other news, insider Steve Pakola sold 15,309 shares of REGENXBIO stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $11.02, for a total transaction of $168,705.18. Following the sale, the insider 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 14.22% of the stock is owned by corporate insiders.

REGENXBIO Stock Performance

REGENXBIO stock opened at $10.48 on Monday. REGENXBIO Inc. has a 12-month low of $5.45 and a 12-month high of $16.19. The stock has a market cap of $541.82 million, a P/E ratio of -1.87 and a beta of 1.04. The company has a 50-day moving average price of $7.95 and a 200 day moving average price of $9.92.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.36). The firm had revenue of $6.39 million during the quarter, compared to analyst estimates of $25.84 million. REGENXBIO had a negative net margin of 330.23% and a negative return on equity of 232.50%. As a group, analysts forecast that REGENXBIO Inc. will post -3.69 EPS for the current year.

REGENXBIO Profile

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.