Propel Bio Management LLC Makes New $1.68 Million Investment in REGENXBIO Inc. $RGNX

Propel Bio Management LLC purchased a new position in shares of REGENXBIO Inc. (NASDAQ:RGNX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 116,896 shares of the biotechnology company’s stock, valued at approximately $1,683,000. REGENXBIO makes up 1.4% of Propel Bio Management LLC’s holdings, making the stock its 15th largest holding. Propel Bio Management LLC owned approximately 0.23% of REGENXBIO as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of RGNX. AQR Capital Management LLC boosted its holdings in shares of REGENXBIO by 2,247.7% during the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock worth $4,437,000 after buying an additional 594,161 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of REGENXBIO by 64.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock worth $16,709,000 after purchasing an additional 454,977 shares during the period. Invenomic Capital Management LP acquired a new position in shares of REGENXBIO during the third quarter worth approximately $4,120,000. Integral Health Asset Management LLC raised its position in shares of REGENXBIO by 57.1% during the third quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $10,615,000 after purchasing an additional 400,000 shares during the period. Finally, Jane Street Group LLC raised its position in shares of REGENXBIO by 151.1% during the first quarter. Jane Street Group LLC now owns 414,067 shares of the biotechnology company’s stock worth $2,961,000 after purchasing an additional 249,156 shares during the period. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Price Performance

Shares of REGENXBIO stock opened at $6.08 on Friday. REGENXBIO Inc. has a 1 year low of $5.45 and a 1 year high of $16.19. The firm has a market cap of $314.34 million, a PE ratio of -1.09 and a beta of 1.04. The stock has a fifty day moving average price of $8.17 and a 200-day moving average price of $10.41.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.36). REGENXBIO had a negative net margin of 330.23% and a negative return on equity of 232.50%. The business had revenue of $6.39 million for the quarter, compared to analysts’ expectations of $25.84 million. As a group, equities analysts anticipate that REGENXBIO Inc. will post -3.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RGNX. Morgan Stanley set a $16.00 target price on REGENXBIO in a research report on Friday, May 15th. Chardan Capital lowered their target price on REGENXBIO from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Barclays lowered their target price on REGENXBIO from $37.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Robert W. Baird set a $27.00 target price on REGENXBIO in a research report on Tuesday, February 10th. Finally, The Goldman Sachs Group lowered their target price on REGENXBIO from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 10th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.55.

Insider Activity

In other news, insider Steve Pakola sold 15,309 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $11.02, for a total transaction of $168,705.18. Following the completion of the sale, the insider directly owned 232,617 shares of the company’s stock, valued at $2,563,439.34. This trade represents a 6.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 14.22% of the stock is currently owned by corporate insiders.

REGENXBIO Profile

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.