REGENXBIO (NASDAQ:RGNX) Trading Down 6.4% – Should You Sell?

REGENXBIO Inc. (NASDAQ:RGNX)’s stock price fell 6.4% during mid-day trading on Monday . The company traded as low as $10.38 and last traded at $10.39. 365,395 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 597,460 shares. The stock had previously closed at $11.10.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RGNX. HC Wainwright restated a “buy” rating and issued a $39.00 price target on shares of REGENXBIO in a research note on Wednesday, September 4th. Chardan Capital restated a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a research note on Tuesday. Raymond James restated an “outperform” rating and issued a $18.00 price target on shares of REGENXBIO in a research note on Thursday, October 10th. Barclays dropped their price target on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, REGENXBIO has an average rating of “Moderate Buy” and an average target price of $35.45.

REGENXBIO Price Performance

The company has a market cap of $481.35 million, a price-to-earnings ratio of -1.82 and a beta of 1.21. The firm’s fifty day moving average price is $11.26 and its 200-day moving average price is $13.17.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.24. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 68.21%. The company had revenue of $22.30 million during the quarter, compared to the consensus estimate of $22.97 million. During the same quarter in the previous year, the company posted ($1.66) earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts forecast that REGENXBIO Inc. will post -4.66 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Curran Simpson sold 9,648 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.04, for a total transaction of $145,105.92. Following the completion of the transaction, the chief executive officer now owns 170,137 shares of the company’s stock, valued at approximately $2,558,860.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Argeris N. Karabelas sold 10,100 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $13.51, for a total value of $136,451.00. Following the completion of the sale, the director now owns 11,286 shares of the company’s stock, valued at $152,473.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Curran Simpson sold 9,648 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.04, for a total transaction of $145,105.92. Following the completion of the sale, the chief executive officer now owns 170,137 shares in the company, valued at approximately $2,558,860.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,848 shares of company stock valued at $665,197. 13.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On REGENXBIO

Several hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in REGENXBIO by 73.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 746 shares in the last quarter. ProShare Advisors LLC raised its position in REGENXBIO by 8.3% in the first quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock worth $240,000 after acquiring an additional 874 shares in the last quarter. Maryland State Retirement & Pension System raised its position in REGENXBIO by 7.2% in the second quarter. Maryland State Retirement & Pension System now owns 15,800 shares of the biotechnology company’s stock worth $185,000 after acquiring an additional 1,067 shares in the last quarter. Amalgamated Bank raised its position in REGENXBIO by 9.9% in the second quarter. Amalgamated Bank now owns 13,613 shares of the biotechnology company’s stock worth $159,000 after acquiring an additional 1,227 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in REGENXBIO by 8.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock worth $383,000 after acquiring an additional 1,438 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors.

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.