ADAR1 Capital Management LLC Grows Position in REGENXBIO Inc. $RGNX

Key Points

• ADAR1 Capital Management LLC increased its stake in REGENXBIO Inc. by 86.4%, acquiring an additional 162,423 shares to reach a total of 350,352 shares valued at approximately $2.5 million.
• Several other institutional investors have also increased their holdings in REGENXBIO, with PDT Partners LLC boosting its stake by 62.7% and Trexquant Investment LP raising its holdings by 205.6%.
• Wall Street analysts have mixed views on REGENXBIO, with price targets ranging from $17.00 to $52.00, and a consensus rating of "Moderate Buy."

ADAR1 Capital Management LLC grew its position in REGENXBIO Inc. (NASDAQ:RGNX - Free Report) by 86.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 350,352 shares of the biotechnology company's stock after purchasing an additional 162,423 shares during the period. ADAR1 Capital Management LLC owned approximately 0.70% of REGENXBIO worth $2,505,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in shares of REGENXBIO in the first quarter valued at about $35,000. Brooklyn Investment Group boosted its holdings in shares of REGENXBIO by 163.7% during the first quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company's stock worth $40,000 after acquiring an additional 3,466 shares during the period. Laurion Capital Management LP bought a new stake in shares of REGENXBIO during the fourth quarter worth approximately $79,000. Pallas Capital Advisors LLC bought a new stake in shares of REGENXBIO during the first quarter worth approximately $74,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of REGENXBIO by 442.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,138 shares of the biotechnology company's stock worth $102,000 after acquiring an additional 10,714 shares during the period. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Stock Up 3.1%

REGENXBIO stock traded up $0.29 during trading hours on Friday, reaching $9.71. 609,824 shares of the company's stock were exchanged, compared to its average volume of 643,702. The firm has a market capitalization of $490.49 million, a PE ratio of -2.82 and a beta of 1.17. The firm's 50 day simple moving average is $8.65 and its 200 day simple moving average is $8.17. 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 announced its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share 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 business had revenue of $21.36 million during the quarter, compared to the consensus estimate of $40.87 million. Analysts anticipate that REGENXBIO Inc. will post -4.84 EPS for the current year.

Analysts Set New Price Targets

RGNX has been the subject of a number of research analyst reports. Barclays reduced their price objective on REGENXBIO from $50.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Wall Street Zen cut REGENXBIO from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. Chardan Capital reiterated a "buy" rating and issued a $52.00 price target on shares of REGENXBIO in a research note on Friday, August 8th. Royal Bank Of Canada cut their price target on REGENXBIO from $21.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $34.00 price target on shares of REGENXBIO in a research note on Tuesday, August 19th. Five equities 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.com, REGENXBIO currently has a consensus rating of "Moderate Buy" and an average 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.