REGENXBIO (NASDAQ:RGNX) Shares Gap Up to $14.33

REGENXBIO Inc. (NASDAQ:RGNX) gapped up before the market opened on Monday . The stock had previously closed at $14.33, but opened at $15.23. REGENXBIO shares last traded at $14.95, with a volume of 90,391 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of REGENXBIO in a research note on Thursday, June 20th. Stifel Nicolaus reissued a “buy” rating and issued a $40.00 price objective on shares of REGENXBIO in a research report on Friday, April 12th. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, The Goldman Sachs Group assumed coverage on shares of REGENXBIO in a report on Friday, June 7th. They issued a “buy” rating and a $38.00 price target on the stock. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.58.

REGENXBIO Trading Up 0.2 %

The stock’s 50-day simple moving average is $13.04 and its 200-day simple moving average is $16.06.

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

Insider Activity

In related news, Director Kenneth T. Mills sold 12,221 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $13.78, for a total value of $168,405.38. Following the transaction, the director now owns 408,035 shares in the company, valued at $5,622,722.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kenneth T. Mills sold 12,221 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $13.78, for a total transaction of $168,405.38. Following the completion of the sale, the director now owns 408,035 shares of the company’s stock, valued at $5,622,722.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.81, for a total transaction of $237,150.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at $6,451,033.35. The disclosure for this sale can be found here. In the last three months, insiders sold 39,431 shares of company stock worth $548,687. 13.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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