6,397,440 Shares in REGENXBIO Inc. $RGNX Bought by BlackRock Inc.

Key Points

• BlackRock acquired 6.4 million REGENXBIO shares in the second quarter, valued at approximately $76.6 million and representing a 12.37% stake. Institutional investors now own 88.08% of the company.
• REGENXBIO reported quarterly EPS of $0.43, exceeding the $0.08 consensus estimate, while revenue of $108.02 million also surpassed expectations. Despite the beat, the company continues to post negative net margins and analysts expect a full-year loss.
• Analysts maintain a generally positive view, with nine Buy, three Hold and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $23.27 versus the stock’s recent price near $9.66.

BlackRock Inc. bought a new stake in shares of REGENXBIO Inc. (NASDAQ:RGNX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,397,440 shares of the biotechnology company's stock, valued at approximately $76,641,000. BlackRock Inc. owned approximately 12.37% of REGENXBIO at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Pallas Capital Advisors LLC acquired a new stake in REGENXBIO in the 2nd quarter valued at approximately $175,000. Deutsche Bank AG acquired a new position in shares of REGENXBIO during the second quarter worth approximately $2,490,000. Bank of New York Mellon Corp bought a new stake in shares of REGENXBIO in the second quarter valued at approximately $1,608,000. GSA Capital Partners LLP acquired a new stake in shares of REGENXBIO in the second quarter worth $271,000. Finally, Walleye Capital LLC acquired a new stake in shares of REGENXBIO in the second quarter worth $2,441,000. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Price Performance

RGNX stock opened at $9.66 on Monday. The business has a fifty day moving average price of $11.07 and a 200 day moving average price of $9.20. REGENXBIO Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $16.19. The stock has a market capitalization of $637.66 million, a price-to-earnings ratio of -2.55 and a beta of 0.94.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.35. The firm had revenue of $108.02 million for the quarter, compared to the consensus estimate of $97.63 million. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%. On average, equities analysts expect that REGENXBIO Inc. will post -3.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RGNX. Zacks Research raised shares of REGENXBIO from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. Robert W. Baird decreased their target price on REGENXBIO from $32.00 to $29.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 25th. Leerink Partners upped their price target on REGENXBIO from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Monday, June 22nd. Wall Street Zen upgraded REGENXBIO from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Bank of America decreased their price objective on REGENXBIO from $25.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, May 15th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.27.

Insider Activity

In related news, insider Steve Pakola sold 36,725 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $12.86, for a total value of $472,283.50. Following the completion of the sale, the insider owned 213,009 shares in the company, valued at $2,739,295.74. This represents a 14.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 58,494 shares of company stock worth $718,232. 14.22% of the stock is currently owned by insiders.

About REGENXBIO

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO's pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.

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