REGENXBIO (NASDAQ:RGNX) Shares Down 3.9% – Should You Sell?

REGENXBIO Inc. (NASDAQ:RGNX)’s stock price dropped 3.9% during trading on Friday . The company traded as low as $10.58 and last traded at $10.63. Approximately 526,405 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 1,422,760 shares. The stock had previously closed at $11.06.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. HC Wainwright decreased their target price on REGENXBIO from $26.00 to $23.00 and set a “buy” rating for the company in a report on Monday, August 10th. Barclays downgraded REGENXBIO from an “overweight” rating to a “hold” rating in a report on Friday, August 7th. Morgan Stanley reissued an “overweight” rating and set a $18.00 price objective on shares of REGENXBIO in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.73.

REGENXBIO Price Performance

The company has a market capitalization of $696.41 million, a price-to-earnings ratio of -2.78 and a beta of 0.94. The stock has a 50 day simple moving average of $10.83 and a two-hundred day simple moving average of $9.25.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.35. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%.The business had revenue of $108.02 million during the quarter, compared to analysts’ expectations of $97.63 million. Equities research analysts predict that REGENXBIO Inc. will post -3.91 EPS for the current year.

Insider Transactions at REGENXBIO

In other REGENXBIO news, insider Steve Pakola sold 36,725 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $12.86, for a total value of $472,283.50. Following the transaction, the insider directly owned 213,009 shares in the company, valued at $2,739,295.74. This represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 58,494 shares of company stock valued at $718,232 over the last three months. Corporate insiders own 14.22% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of REGENXBIO in the 2nd quarter valued at $76,641,000. Vanguard Group Inc. boosted its stake in REGENXBIO by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,374,140 shares of the biotechnology company’s stock valued at $48,588,000 after acquiring an additional 36,042 shares in the last quarter. State Street Corp grew its holdings in shares of REGENXBIO by 15.2% during the fourth quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock worth $32,929,000 after purchasing an additional 301,858 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of REGENXBIO by 5.6% during the fourth quarter. AQR Capital Management LLC now owns 1,361,962 shares of the biotechnology company’s stock worth $19,612,000 after purchasing an additional 72,307 shares during the last quarter. Finally, Integral Health Asset Management LLC increased its position in shares of REGENXBIO by 9.1% during the fourth quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the biotechnology company’s stock worth $17,280,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Company 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.