REGENXBIO Inc. (RGNX) Stock Price Up 9.5%
REGENXBIO Inc. (NASDAQ:RGNX) rose 9.5% during mid-day trading on Tuesday . The stock traded as high as $25.00 and last traded at $24.80. Approximately 527,271 shares changed hands during trading, an increase of 124% from the average daily volume of 235,049 shares. The stock had previously closed at $22.65.
RGNX has been the subject of several recent analyst reports. Zacks Investment Research cut shares of REGENXBIO from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Chardan Capital reaffirmed a “buy” rating and set a $75.00 price objective (up from $55.00) on shares of REGENXBIO in a research report on Tuesday. BidaskClub raised shares of REGENXBIO from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Finally, Evercore ISI assumed coverage on shares of REGENXBIO in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $37.00.
The company’s market capitalization is $755.36 million. The firm’s 50 day moving average price is $20.30 and its 200 day moving average price is $19.76.
REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.34. REGENXBIO had a negative return on equity of 38.74% and a negative net margin of 839.87%. The firm had revenue of $6.56 million during the quarter. Equities analysts predict that REGENXBIO Inc. will post ($2.71) EPS for the current year.
In other REGENXBIO news, insider Kenneth T. Mills sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $20.05, for a total transaction of $130,325.00. Following the completion of the transaction, the insider now owns 105,500 shares of the company’s stock, valued at approximately $2,115,275. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vittal Vasista sold 3,100 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $19.81, for a total value of $61,411.00. Following the transaction, the chief financial officer now directly owns 108,423 shares of the company’s stock, valued at approximately $2,147,859.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,740 shares of company stock valued at $563,185. Insiders own 17.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in RGNX. Legal & General Group Plc boosted its position in REGENXBIO by 41.4% during the 2nd quarter. Legal & General Group Plc now owns 6,870 shares of the biotechnology company’s stock worth $137,000 after acquiring an additional 2,011 shares during the last quarter. Oxford Asset Management acquired a new position in REGENXBIO during the 1st quarter worth approximately $206,000. American International Group Inc. boosted its position in REGENXBIO by 7.1% during the 1st quarter. American International Group Inc. now owns 12,468 shares of the biotechnology company’s stock worth $241,000 after acquiring an additional 822 shares during the last quarter. Voya Investment Management LLC acquired a new position in REGENXBIO during the 2nd quarter worth approximately $249,000. Finally, Acadian Asset Management LLC acquired a new position in REGENXBIO during the 1st quarter worth approximately $272,000. 73.23% of the stock is owned by hedge funds and other institutional investors.
REGENXBIO Inc is a clinical-stage biotechnology company. The Company’s gene therapy product candidates are designed to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. The Company develops products candidates across the therapeutic areas of metabolic, neurodegenerative and retinal diseases.
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