Ieq Capital LLC Invests $364,000 in REGENXBIO Inc. $RGNX

Key Points

• Ieq Capital LLC has acquired 50,969 shares of REGENXBIO Inc., valued at approximately $364,000, representing about 0.10% ownership of the company.
• Recent analyst reports have seen varied ratings and price targets for REGENXBIO, with Barclays setting a new target of $37.00 while Chardan Capital maintains a buy rating with a target of $52.00.
• REGENXBIO reported a loss of ($1.38) EPS in its latest quarterly earnings, missing estimates and raising concerns about its current revenue stream compared to expectations.

Ieq Capital LLC acquired a new stake in REGENXBIO Inc. (NASDAQ:RGNX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 50,969 shares of the biotechnology company's stock, valued at approximately $364,000. Ieq Capital LLC owned about 0.10% of REGENXBIO as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RGNX. Raymond James Financial Inc. bought a new position in shares of REGENXBIO in the fourth quarter worth $568,000. Dimensional Fund Advisors LP boosted 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 period. Tower Research Capital LLC TRC boosted its position in shares of REGENXBIO by 442.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,138 shares of the biotechnology company's stock valued at $102,000 after purchasing an additional 10,714 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of REGENXBIO by 9.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,910 shares of the biotechnology company's stock valued at $185,000 after purchasing an additional 1,982 shares during the period. Finally, Voya Investment Management LLC boosted its position in shares of 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 purchasing an additional 3,024 shares during the period. Institutional investors own 88.08% of the company's stock.

Analyst Upgrades and Downgrades

RGNX has been the subject of a number of recent analyst reports. Chardan Capital reiterated a "buy" rating and issued a $52.00 price target on shares of REGENXBIO in a research report on Monday. Royal Bank Of Canada reduced their price objective on REGENXBIO from $21.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Wall Street Zen downgraded REGENXBIO from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. Barclays reduced their price objective on REGENXBIO from $50.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $34.00 price objective on shares of REGENXBIO in a research note on Monday. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $28.38.

REGENXBIO Stock Performance

Shares of NASDAQ RGNX traded up $0.41 during trading on Tuesday, reaching $9.89. The company had a trading volume of 329,551 shares, compared to its average volume of 940,008. The stock has a market cap of $499.58 million, a PE ratio of -2.87 and a beta of 1.17. The business's 50 day moving average price is $8.68 and its 200-day moving average price is $8.20. REGENXBIO Inc. has a 52 week low of $5.03 and a 52 week high of $13.48.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last issued its quarterly 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 net margin of 112.70% and a negative return on equity of 66.95%. The firm had revenue of $21.36 million for the quarter, compared to analyst estimates of $40.87 million. Equities analysts anticipate that REGENXBIO Inc. will post -4.84 earnings per share for the current year.

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.