REGENXBIO (NASDAQ:RGNX) Shares Down 3.1% Following Insider Selling

Shares of REGENXBIO Inc. (NASDAQ:RGNX) fell 3.1% during trading on Thursday after an insider sold shares in the company. The company traded as low as $16.21 and last traded at $16.50. 113,665 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 729,422 shares. The stock had previously closed at $17.03.

Specifically, insider Steve Pakola sold 12,878 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total transaction of $365,220.08. Following the completion of the transaction, the insider now owns 107,192 shares in the company, valued at approximately $3,039,965.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other REGENXBIO news, insider Steve Pakola sold 12,878 shares of REGENXBIO stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the transaction, the insider now owns 107,192 shares in the company, valued at approximately $3,039,965.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction on Monday, April 15th. The shares were sold at an average price of $18.19, for a total value of $272,850.00. Following the completion of the transaction, the chief executive officer now owns 408,035 shares of the company’s stock, valued at approximately $7,422,156.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,878 shares of company stock worth $1,217,370. 13.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RGNX has been the subject of a number of analyst reports. Chardan Capital reaffirmed a “buy” rating and set a $52.00 price objective on shares of REGENXBIO 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. Leerink Partnrs raised REGENXBIO from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 6th. Barclays boosted their target price on REGENXBIO from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Finally, Robert W. Baird boosted their target price on REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.45.

REGENXBIO Price Performance

The firm has a 50-day moving average price of $20.03 and a 200 day moving average price of $17.85.

REGENXBIO (NASDAQ:RGNX) last released its 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 return on equity of 68.18% and a negative net margin of 291.99%. The business 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 company earned ($1.38) earnings per share. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis. Sell-side analysts expect that REGENXBIO Inc. will post -3.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new stake in REGENXBIO during the 4th quarter worth about $1,915,000. Raymond James & Associates lifted its position in shares of REGENXBIO by 405.3% during the 3rd quarter. Raymond James & Associates now owns 100,620 shares of the biotechnology company’s stock worth $1,656,000 after buying an additional 80,706 shares in the last quarter. Swiss National Bank lifted its position in shares of REGENXBIO by 6.8% during the 3rd quarter. Swiss National Bank now owns 86,000 shares of the biotechnology company’s stock worth $1,416,000 after buying an additional 5,500 shares in the last quarter. Hudson Bay Capital Management LP lifted its position in shares of REGENXBIO by 35.3% during the 3rd quarter. Hudson Bay Capital Management LP now owns 115,000 shares of the biotechnology company’s stock worth $1,893,000 after buying an additional 30,000 shares in the last quarter. Finally, Trexquant Investment LP lifted its position in shares of REGENXBIO by 552.3% during the 3rd quarter. Trexquant Investment LP now owns 85,913 shares of the biotechnology company’s stock worth $1,414,000 after buying an additional 72,742 shares in the last quarter. 88.08% of the stock is 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.