Exome Asset Management LLC Takes $2.90 Million 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 bought a new position in shares of REGENXBIO Inc. (NASDAQ:RGNX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 405,281 shares of the biotechnology company's stock, valued at approximately $2,898,000. REGENXBIO accounts for approximately 2.5% of Exome Asset Management LLC's portfolio, making the stock its 15th biggest holding. Exome Asset Management LLC owned approximately 0.81% of REGENXBIO as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in REGENXBIO by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 3,472,988 shares of the biotechnology company's stock valued at $24,832,000 after purchasing an additional 487,036 shares during the last quarter. Millennium Management LLC raised its position in shares of REGENXBIO by 406.3% in the fourth quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company's stock valued at $10,222,000 after purchasing an additional 1,061,187 shares during the period. 22NW LP acquired a new stake in shares of REGENXBIO during the 1st quarter worth about $4,781,000. AQR Capital Management LLC lifted its stake in shares of REGENXBIO by 2,247.7% during the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company's stock worth $4,437,000 after buying an additional 594,161 shares during the last quarter. Finally, Trexquant Investment LP boosted its holdings in shares of REGENXBIO by 205.6% during the 1st quarter. Trexquant Investment LP now owns 458,538 shares of the biotechnology company's stock worth $3,279,000 after buying an additional 308,516 shares during the period. 88.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at REGENXBIO

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

REGENXBIO Trading Down 3.1%

NASDAQ RGNX traded down $0.29 during midday trading on Friday, hitting $9.20. The company had a trading volume of 294,794 shares, compared to its average volume of 523,468. The company has a market capitalization of $464.69 million, a PE ratio of -2.67 and a beta of 1.17. The firm has a 50-day moving average price of $8.75 and a 200-day moving average price of $8.28. REGENXBIO Inc. has a twelve month low of $5.03 and a twelve month high of $13.48.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released 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). The company had revenue of $21.36 million for the quarter, compared to analyst estimates of $40.87 million. REGENXBIO had a negative return on equity of 66.95% and a negative net margin of 112.70%. On average, equities analysts anticipate that REGENXBIO Inc. will post -4.84 EPS for the current year.

Analyst Upgrades and Downgrades

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