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

REGENXBIO Inc. (NASDAQ:RGNX) shares traded down 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 were traded 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.

Wall Street Analysts Forecast Growth

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

REGENXBIO Trading Up 1.6 %

The company has a market capitalization of $481.35 million, a price-to-earnings ratio of -1.82 and a beta of 1.21. The company’s 50 day simple moving average is $11.26 and its 200-day simple moving average is $13.17.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $22.97 million. During the same period last year, the company earned ($1.66) EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that REGENXBIO Inc. will post -4.66 EPS for the current year.

Insider Buying and Selling

In related news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total value of $101,100.00. Following the sale, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $114,101.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Argeris N. Karabelas sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.04, for a total value of $165,440.00. Following the transaction, the director now owns 11,286 shares in the company, valued at approximately $169,741.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total transaction of $101,100.00. Following the completion of the transaction, the director now owns 11,286 shares in the company, valued at $114,101.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,848 shares of company stock valued at $665,197. Insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake 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 valued at $32,000 after purchasing an additional 746 shares during the period. nVerses Capital LLC raised its stake in shares of REGENXBIO by 183.3% during the third quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 2,200 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of REGENXBIO during the first quarter valued at approximately $56,000. Headlands Technologies LLC raised its stake in shares of REGENXBIO by 276.8% during the first quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock valued at $81,000 after purchasing an additional 2,812 shares during the period. Finally, Diversified Trust Co purchased a new stake in shares of REGENXBIO during the second quarter valued at approximately $121,000. 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.