REGENXBIO (NASDAQ:RGNX) Shares Gap Down – Should You Sell?

REGENXBIO Inc. (NASDAQ:RGNX) gapped down prior to trading on Monday . The stock had previously closed at $10.72, but opened at $8.29. REGENXBIO shares last traded at $8.18, with a volume of 960,606 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RGNX shares. Barclays cut shares of REGENXBIO from an “overweight” rating to a “hold” rating in a report on Friday, August 7th. Morgan Stanley restated an “overweight” rating and issued a $18.00 price target on shares of REGENXBIO in a research report on Friday, August 7th. Leerink Partners upped their price objective on REGENXBIO from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Zacks Research raised REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of REGENXBIO in a research note on Monday, June 8th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.73.

REGENXBIO Stock Performance

The company has a market cap of $524.32 million, a PE ratio of -2.10 and a beta of 0.94. The stock’s 50-day simple moving average is $10.91 and its 200 day simple moving average is $9.25.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.35. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. The business had revenue of $108.02 million for the quarter, compared to the consensus estimate of $97.63 million. On average, sell-side analysts predict that REGENXBIO Inc. will post -3.91 EPS for the current fiscal year.

Insider Buying and Selling

In other REGENXBIO news, insider Steve Pakola sold 2,161 shares of REGENXBIO stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $13.64, for a total value of $29,476.04. Following the sale, the insider owned 213,009 shares of the company’s stock, valued at approximately $2,905,442.76. The trade was a 1.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 58,494 shares of company stock valued at $718,232 in the last three months. 14.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On REGENXBIO

A number of large investors have recently modified their holdings of the business. Versant Capital Management Inc boosted its stake in shares of REGENXBIO by 60.4% in the second quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 1,032 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in REGENXBIO in the third quarter worth $37,000. Quantbot Technologies LP purchased a new position in REGENXBIO in the second quarter worth $51,000. Legal & General Group Plc purchased a new position in REGENXBIO in the second quarter worth $56,000. Finally, Captrust Financial Advisors acquired a new stake in REGENXBIO in the second quarter valued at $85,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

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.