REGENXBIO (NASDAQ:RGNX) Shares Gap Down – Time to Sell?

REGENXBIO Inc. (NASDAQ:RGNX)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $11.20, but opened at $8.99. REGENXBIO shares last traded at $9.68, with a volume of 4,336,321 shares.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of REGENXBIO in a research note on Monday, June 8th. Bank of America decreased their price objective on shares of REGENXBIO from $25.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Zacks Research cut REGENXBIO from a “hold” rating to a “strong sell” rating in a research report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $26.00 target price on shares of REGENXBIO in a report on Wednesday, July 1st. Finally, Leerink Partners upped their target price on REGENXBIO from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, REGENXBIO presently has a consensus rating of “Moderate Buy” and an average price target of $23.82.

REGENXBIO Stock Performance

The company has a market capitalization of $515.50 million, a PE ratio of -1.78 and a beta of 0.90. The company’s 50-day simple moving average is $9.10 and its 200-day simple moving average is $9.87.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $25.84 million. Analysts expect that REGENXBIO Inc. will post -3.69 EPS for the current year.

Insider Buying and Selling

In other REGENXBIO news, insider Steve Pakola sold 2,161 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $13.64, for a total transaction of $29,476.04. Following the completion of the sale, the insider directly owned 213,009 shares of the company’s stock, valued at approximately $2,905,442.76. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 73,803 shares of company stock worth $886,937. 14.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of REGENXBIO by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company’s stock worth $38,959,000 after purchasing an additional 185,223 shares during the period. Assenagon Asset Management S.A. increased its stake in REGENXBIO by 64.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock valued at $16,709,000 after buying an additional 454,977 shares during the period. Royce & Associates LP acquired a new position in REGENXBIO in the 4th quarter valued at $1,714,000. Propel Bio Management LLC purchased a new position in REGENXBIO during the 4th quarter worth $1,683,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of REGENXBIO in the 1st quarter worth $2,305,000. Institutional investors and hedge funds 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.