REGENXBIO (NASDAQ:RGNX) Shares Gap Down – Here’s What Happened

REGENXBIO Inc. (NASDAQ:RGNX)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $13.41, but opened at $9.60. REGENXBIO shares last traded at $11.0250, with a volume of 3,306,818 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RGNX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of REGENXBIO in a research note on Thursday, January 22nd. Stifel Nicolaus lifted their target price on REGENXBIO from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Royal Bank Of Canada raised their price target on REGENXBIO from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Leerink Partners lifted their price objective on shares of REGENXBIO from $16.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, December 15th. Finally, Chardan Capital restated a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Thursday, November 20th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

REGENXBIO Stock Performance

The firm has a market cap of $575.75 million, a P/E ratio of -3.30 and a beta of 1.07. The firm’s fifty day moving average is $13.72 and its 200 day moving average is $11.29.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.18. The company had revenue of $29.73 million during the quarter, compared to analysts’ expectations of $24.41 million. REGENXBIO had a negative return on equity of 78.29% and a negative net margin of 110.29%. As a group, equities research analysts forecast that REGENXBIO Inc. will post -4.84 EPS for the current year.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors have recently modified their holdings of RGNX. Voss Capital LP lifted its holdings in shares of REGENXBIO by 47.4% in the 2nd quarter. Voss Capital LP now owns 575,000 shares of the biotechnology company’s stock worth $4,721,000 after purchasing an additional 185,000 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of REGENXBIO by 23.2% during the third quarter. Assenagon Asset Management S.A. now owns 705,403 shares of the biotechnology company’s stock valued at $6,807,000 after buying an additional 132,942 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of REGENXBIO by 2,049.0% during the second quarter. Squarepoint Ops LLC now owns 219,288 shares of the biotechnology company’s stock worth $1,800,000 after acquiring an additional 209,084 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of REGENXBIO during the second quarter worth about $1,453,000. Finally, 22NW LP raised its holdings in shares of REGENXBIO by 38.1% in the 2nd quarter. 22NW LP now owns 923,679 shares of the biotechnology company’s stock worth $7,583,000 after acquiring an additional 255,000 shares during the last quarter. Institutional investors own 88.08% of the company’s stock.

About REGENXBIO

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO’s pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.