Jacobs Levy Equity Management Inc. Sells 402,843 Shares of REGENXBIO Inc. (NASDAQ:RGNX)

Jacobs Levy Equity Management Inc. reduced its position in REGENXBIO Inc. (NASDAQ:RGNX) by 57.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 292,341 shares of the biotechnology company’s stock after selling 402,843 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.59% of REGENXBIO worth $6,160,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RGNX. Redmile Group LLC raised its stake in REGENXBIO by 21.0% during the first 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 in the last quarter. Vanguard Group Inc. raised its stake in REGENXBIO by 9.8% during the first quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company’s stock worth $102,756,000 after acquiring an additional 436,043 shares in the last quarter. Perceptive Advisors LLC acquired a new position in REGENXBIO during the fourth quarter worth $6,146,000. Assenagon Asset Management S.A. raised its stake in REGENXBIO by 113.4% during the first quarter. Assenagon Asset Management S.A. now owns 227,611 shares of the biotechnology company’s stock worth $4,796,000 after acquiring an additional 120,929 shares in the last quarter. Finally, Affinity Asset Advisors LLC acquired a new position in REGENXBIO during the first quarter worth $2,318,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

REGENXBIO Stock Performance

NASDAQ RGNX traded down $0.06 during trading on Tuesday, hitting $14.29. The stock had a trading volume of 649,929 shares, compared to its average volume of 640,017. The company has a market capitalization of $703.93 million, a PE ratio of -2.43 and a beta of 1.27. REGENXBIO Inc. has a 12 month low of $10.49 and a 12 month high of $28.80. The company’s 50-day moving average price is $12.99 and its two-hundred day moving average price is $16.05.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.28) by ($0.10). The company 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%. The firm’s revenue for the quarter was down 18.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.53) EPS. As a group, equities analysts anticipate that REGENXBIO Inc. will post -4.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $15.81, for a total transaction of $237,150.00. Following the transaction, 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 can be accessed through this hyperlink. In related news, CEO Kenneth T. Mills sold 15,000 shares of the business’s 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 in the company, valued at approximately $6,451,033.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth T. Mills sold 12,221 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $13.78, for a total value of $168,405.38. Following the completion of the sale, the director now owns 408,035 shares of the company’s stock, valued at $5,622,722.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,079 shares of company stock valued at $859,233. 13.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RGNX. The Goldman Sachs Group began coverage on REGENXBIO in a research note on Friday, June 7th. They issued a “buy” rating and a $38.00 target price for the company. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of REGENXBIO in a report on Thursday, June 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $40.00 price objective on shares of REGENXBIO in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.58.

REGENXBIO Company Profile

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.