REGENXBIO Inc. (NASDAQ:RGNX) CEO Kenneth T. Mills Sells 15,000 Shares

REGENXBIO Inc. (NASDAQ:RGNX) CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $18.19, for a total value of $272,850.00. Following the transaction, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at approximately $7,422,156.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

REGENXBIO Stock Down 2.7 %

Shares of NASDAQ:RGNX traded down $0.47 on Wednesday, hitting $17.03. 413,623 shares of the company traded hands, compared to its average volume of 738,153. REGENXBIO Inc. has a 52 week low of $11.83 and a 52 week high of $28.80. The stock has a 50 day simple moving average of $19.98 and a 200-day simple moving average of $17.86. The company has a market cap of $835.15 million, a PE ratio of -2.88 and a beta of 1.29.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.16). REGENXBIO had a negative net margin of 291.99% and a negative return on equity of 68.18%. The company had revenue of $22.30 million for the quarter, compared to the consensus estimate of $34.01 million. During the same quarter in the previous year, the business earned ($1.38) earnings per share. REGENXBIO’s revenue was down 28.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that REGENXBIO Inc. will post -3.98 earnings per share for the current year.

Hedge Funds Weigh In On REGENXBIO

Several institutional investors and hedge funds have recently modified their holdings of RGNX. BlackRock Inc. increased its holdings in shares of REGENXBIO by 20.3% during the first quarter. BlackRock Inc. now owns 8,040,790 shares of the biotechnology company’s stock valued at $152,051,000 after acquiring an additional 1,354,440 shares in the last quarter. Redmile Group LLC increased its holdings in shares of REGENXBIO by 27.0% during the third quarter. Redmile Group LLC now owns 2,574,042 shares of the biotechnology company’s stock valued at $42,369,000 after acquiring an additional 547,466 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of REGENXBIO by 320.0% during the second quarter. Goldman Sachs Group Inc. now owns 500,125 shares of the biotechnology company’s stock valued at $12,353,000 after acquiring an additional 381,047 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of REGENXBIO by 43,004.2% during the first quarter. Balyasny Asset Management L.P. now owns 376,300 shares of the biotechnology company’s stock valued at $7,116,000 after buying an additional 375,427 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new stake in shares of REGENXBIO during the fourth quarter valued at $6,146,000. 88.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Raymond James reaffirmed an “outperform” rating and issued a $45.00 target price on shares of REGENXBIO in a research note on Wednesday, February 21st. Barclays upped their target price on REGENXBIO from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Chardan Capital reissued a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Thursday, March 7th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $40.00 price objective on shares of REGENXBIO in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.45.

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.