Balyasny Asset Management L.P. grew its stake in REGENXBIO Inc. (NASDAQ:RGNX - Free Report) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,187,102 shares of the biotechnology company's stock after acquiring an additional 66,993 shares during the period. Balyasny Asset Management L.P. owned 2.40% of REGENXBIO worth $9,176,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in REGENXBIO by 67.0% during the fourth quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company's stock worth $31,975,000 after acquiring an additional 1,659,206 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of REGENXBIO by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,171,422 shares of the biotechnology company's stock valued at $9,054,000 after purchasing an additional 21,234 shares during the last quarter. Geode Capital Management LLC grew its position in shares of REGENXBIO by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,094,225 shares of the biotechnology company's stock valued at $8,460,000 after buying an additional 5,574 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of REGENXBIO by 53.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company's stock valued at $6,621,000 after buying an additional 296,700 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in REGENXBIO during the 4th quarter valued at approximately $3,865,000. 88.08% of the stock is currently owned by institutional investors.
Insider Transactions at REGENXBIO
In other news, Director Kenneth T. Mills sold 20,602 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $7.91, for a total value of $162,961.82. Following the sale, the director now directly owns 475,103 shares of the company's stock, valued at approximately $3,758,064.73. This represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 12.79% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently commented on the stock. Chardan Capital reiterated a "buy" rating and issued a $52.00 price objective on shares of REGENXBIO in a research note on Thursday, March 20th. Royal Bank of Canada restated an "outperform" rating and set a $30.00 price objective on shares of REGENXBIO in a report on Tuesday, January 21st. HC Wainwright dropped their price target on shares of REGENXBIO from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Morgan Stanley upped their target price on shares of REGENXBIO from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Finally, Leerink Partners set a $24.00 price target on shares of REGENXBIO in a research report on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $31.63.
Read Our Latest Research Report on RGNX
REGENXBIO Stock Performance
Shares of RGNX stock traded down $0.12 during midday trading on Thursday, hitting $8.21. 327,716 shares of the company were exchanged, compared to its average volume of 861,325. REGENXBIO Inc. has a 52 week low of $5.04 and a 52 week high of $16.85. The firm has a market capitalization of $411.46 million, a P/E ratio of -1.61 and a beta of 1.11. The firm's 50 day moving average price is $7.43 and its two-hundred day moving average price is $7.99.
REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its earnings results on Monday, May 12th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.29). The business had revenue of $89.01 million for the quarter, compared to analyst estimates of $105.35 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. Analysts expect that REGENXBIO Inc. will post -4.84 EPS for the current year.
REGENXBIO Profile
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Free Report)
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.
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