668,679 Shares in REGENXBIO Inc. $RGNX Bought by 22NW LP

Key Points

• 22NW LP has made a new investment of approximately $4.78 million, acquiring 668,679 shares of REGENXBIO Inc., which now represents 3.6% of their investment portfolio.
• REGENXBIO recently reported earnings with a loss of ($1.38) per share, falling short of analyst expectations, and generated revenue of $21.36 million, significantly below the consensus estimate of $40.87 million.
• Despite a mixed outlook from analysts, with price targets ranging from $17.00 to $52.00, the stock has a consensus rating of "Moderate Buy" with an average target price of $28.38.

22NW LP acquired a new stake in shares of REGENXBIO Inc. (NASDAQ:RGNX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 668,679 shares of the biotechnology company's stock, valued at approximately $4,781,000. REGENXBIO makes up about 3.6% of 22NW LP's investment portfolio, making the stock its 10th largest position. 22NW LP owned 1.33% of REGENXBIO as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pale Fire Capital SE boosted its stake in shares of REGENXBIO by 120.5% during the first quarter. Pale Fire Capital SE now owns 25,846 shares of the biotechnology company's stock valued at $185,000 after purchasing an additional 14,125 shares in the last quarter. AlphaQuest LLC boosted its stake in REGENXBIO by 657.7% in the first quarter. AlphaQuest LLC now owns 60,309 shares of the biotechnology company's stock valued at $431,000 after acquiring an additional 52,350 shares in the last quarter. Voss Capital LP boosted its stake in REGENXBIO by 17.2% in the first quarter. Voss Capital LP now owns 390,000 shares of the biotechnology company's stock valued at $2,788,000 after acquiring an additional 57,186 shares in the last quarter. Brooklyn Investment Group boosted its stake in REGENXBIO by 163.7% in the first quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company's stock valued at $40,000 after acquiring an additional 3,466 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in REGENXBIO in the first quarter valued at approximately $354,000. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Trading Down 3.1%

Shares of NASDAQ:RGNX traded down $0.28 on Friday, hitting $8.73. 119,674 shares of the company were exchanged, compared to its average volume of 953,969. REGENXBIO Inc. has a 1-year low of $5.03 and a 1-year high of $13.48. The stock's 50 day moving average price is $8.54 and its 200 day moving average price is $8.09. The firm has a market capitalization of $440.85 million, a P/E ratio of -2.53 and a beta of 1.11.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.25). REGENXBIO had a negative return on equity of 66.95% and a negative net margin of 112.70%.The company had revenue of $21.36 million for the quarter, compared to analyst estimates of $40.87 million. On average, equities analysts predict that REGENXBIO Inc. will post -4.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Barclays lowered their target price on shares of REGENXBIO from $50.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. HC Wainwright restated a "buy" rating and issued a $34.00 target price on shares of REGENXBIO in a research note on Tuesday, August 19th. Royal Bank Of Canada lowered their target price on shares of REGENXBIO from $21.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Chardan Capital restated a "buy" rating and issued a $52.00 target price on shares of REGENXBIO in a research note on Friday, August 8th. Finally, Wall Street Zen downgraded shares of REGENXBIO from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $28.38.

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.