Exome Asset Management LLC Takes Position in REGENXBIO Inc. $RGNX

Key Points

• Exome Asset Management LLC has acquired 405,281 shares of REGENXBIO Inc., valued at approximately $2.9 million, representing 2.5% of its investment portfolio.
• REGENXBIO's recent earnings report showed a loss of $1.38 EPS, missing analysts' expectations, with revenue at $21.36 million compared to a consensus estimate of $40.87 million.
• Despite some analysts maintaining a "buy" rating with target prices up to $52.00, others have downgraded the stock, reflecting mixed sentiment in REGENXBIO's market outlook.

Exome Asset Management LLC purchased a new stake in REGENXBIO Inc. (NASDAQ:RGNX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 405,281 shares of the biotechnology company's stock, valued at approximately $2,898,000. REGENXBIO comprises approximately 2.5% of Exome Asset Management LLC's investment portfolio, making the stock its 15th biggest position. Exome Asset Management LLC owned 0.81% of REGENXBIO at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of REGENXBIO by 9.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,910 shares of the biotechnology company's stock worth $185,000 after buying an additional 1,982 shares during the last quarter. Voya Investment Management LLC grew its stake in REGENXBIO by 7.5% in the 4th quarter. Voya Investment Management LLC now owns 43,502 shares of the biotechnology company's stock valued at $336,000 after acquiring an additional 3,024 shares during the period. Jane Street Group LLC raised its position in REGENXBIO by 325.3% during the fourth quarter. Jane Street Group LLC now owns 164,911 shares of the biotechnology company's stock worth $1,275,000 after acquiring an additional 126,135 shares during the period. Ameriprise Financial Inc. lifted its stake in REGENXBIO by 4.7% in the 4th quarter. Ameriprise Financial Inc. now owns 284,521 shares of the biotechnology company's stock valued at $2,199,000 after buying an additional 12,883 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in REGENXBIO by 370.1% in the 4th quarter. BNP Paribas Financial Markets now owns 96,093 shares of the biotechnology company's stock worth $743,000 after buying an additional 75,652 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company's stock.

REGENXBIO Price Performance

RGNX traded down $0.29 during trading hours on Friday, reaching $9.20. The company's stock had a trading volume of 294,794 shares, compared to its average volume of 541,778. The stock has a market cap of $464.69 million, a PE ratio of -2.67 and a beta of 1.17. REGENXBIO Inc. has a fifty-two week low of $5.03 and a fifty-two week high of $13.48. The business's 50-day moving average is $8.75 and its 200-day moving average is $8.25.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share (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 business had revenue of $21.36 million for the quarter, compared to analyst estimates of $40.87 million. Analysts expect that REGENXBIO Inc. will post -4.84 EPS for the current year.

Insider Buying and Selling

In other REGENXBIO news, CEO Curran Simpson sold 7,734 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $10.02, for a total transaction of $77,494.68. Following the completion of the transaction, the chief executive officer owned 244,597 shares of the company's stock, valued at $2,450,861.94. This trade represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 12.79% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Royal Bank Of Canada reduced their target price on REGENXBIO from $21.00 to $17.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Chardan Capital restated a "buy" rating and issued a $52.00 price objective on shares of REGENXBIO in a report on Monday, September 8th. Wall Street Zen lowered shares of REGENXBIO from a "hold" rating to a "strong sell" rating in a report on Saturday, August 9th. HC Wainwright reissued a "buy" rating and issued a $34.00 price target on shares of REGENXBIO in a research note on Monday, September 8th. Finally, Barclays dropped their price objective 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. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, REGENXBIO has an average rating of "Moderate Buy" and an average target price of $28.38.

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.