Insider Selling: REGENXBIO Inc. (NASDAQ:RGNX) CEO Sells $145,105.92 in Stock

REGENXBIO Inc. (NASDAQ:RGNX) CEO Curran Simpson sold 9,648 shares of the business’s stock in a transaction on 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

REGENXBIO Trading Down 6.6 %

Shares of NASDAQ:RGNX opened at $13.31 on Friday. REGENXBIO Inc. has a 12 month low of $10.49 and a 12 month high of $28.80. The firm’s 50-day moving average is $12.97 and its 200 day moving average is $16.04.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.28) by ($0.10). The firm had revenue of $15.60 million for the quarter, compared to the consensus estimate of $23.52 million. REGENXBIO had a negative net margin of 299.96% and a negative return on equity of 70.72%. The business’s revenue for the quarter was down 18.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.53) earnings per share. Sell-side analysts anticipate that REGENXBIO Inc. will post -4.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on RGNX shares. HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of REGENXBIO in a research note on Thursday, June 20th. The Goldman Sachs Group started coverage on shares of REGENXBIO in a research note on Friday, June 7th. They issued a “buy” rating and a $38.00 price target on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price target on shares of REGENXBIO in a research note on Friday, April 12th. Finally, StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.58.

Hedge Funds Weigh In On REGENXBIO

A number of hedge funds have recently added to or reduced their stakes in RGNX. PNC Financial Services Group Inc. grew its stake in REGENXBIO by 73.5% in the 4th 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. Allspring Global Investments Holdings LLC bought a new position in REGENXBIO in the 1st quarter worth about $56,000. Headlands Technologies LLC grew its stake in REGENXBIO by 276.8% in the 1st quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock worth $81,000 after acquiring an additional 2,812 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in REGENXBIO by 352.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,093 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 3,968 shares in the last quarter. Finally, Diversified Trust Co bought a new position in REGENXBIO in the 2nd quarter worth about $121,000. 88.08% of the stock is currently owned by institutional investors.

About REGENXBIO

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.