REGENXBIO (NASDAQ:RGNX) Hits New 1-Year Low at $11.35

Shares of REGENXBIO Inc. (NASDAQ:RGNX) reached a new 52-week low during trading on Thursday . The company traded as low as $11.35 and last traded at $11.43, with a volume of 8743 shares traded. The stock had previously closed at $11.51.

Wall Street Analysts Forecast Growth

RGNX has been the subject of a number of research analyst reports. Royal Bank of Canada raised shares of REGENXBIO from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $20.00 to $35.00 in a research report on Friday, March 8th. Wedbush reissued a “neutral” rating and set a $21.00 target price on shares of REGENXBIO in a report on Wednesday, February 28th. The Goldman Sachs Group initiated coverage on REGENXBIO in a report on Friday, June 7th. They set a “buy” rating and a $38.00 target price for the company. SVB Leerink raised REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 price target for the company in a research note on Wednesday, March 6th. Finally, Leerink Partnrs raised REGENXBIO from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.58.

REGENXBIO Stock Up 0.8 %

The company has a 50 day simple moving average of $14.75 and a 200-day simple moving average of $16.99.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.10). The firm had revenue of $15.60 million for the quarter, compared to analyst estimates of $23.52 million. REGENXBIO had a negative return on equity of 70.72% and a negative net margin of 299.96%. REGENXBIO’s revenue for the quarter was down 18.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.53) earnings per share. Equities research analysts anticipate that REGENXBIO Inc. will post -3.75 EPS for the current year.

Insider Activity at REGENXBIO

In related news, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.81, for a total value of $237,150.00. Following the completion of the sale, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at approximately $6,451,033.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 13.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in REGENXBIO by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company’s stock valued at $102,756,000 after purchasing an additional 436,043 shares during the period. Redmile Group LLC grew its stake in shares of REGENXBIO by 21.0% during the 1st quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company’s stock worth $95,901,000 after acquiring an additional 790,866 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of REGENXBIO by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,226,957 shares of the biotechnology company’s stock worth $22,025,000 after acquiring an additional 34,385 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of REGENXBIO by 0.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 562,391 shares of the biotechnology company’s stock worth $9,257,000 after acquiring an additional 1,493 shares during the period. Finally, Perceptive Advisors LLC bought a new position in REGENXBIO in the 4th quarter worth about $6,146,000. Institutional investors own 88.08% of the company’s stock.

About REGENXBIO

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company's products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.