Algert Global LLC Acquires New Shares in REGENXBIO Inc. $RGNX

Key Points

• Algert Global LLC has invested approximately $354,000 in REGENXBIO Inc., acquiring 49,578 shares, which represents about 0.10% of the company's stock.
• In its latest earnings report, REGENXBIO missed consensus estimates, posting an EPS of ($1.38) against an expectation of ($1.13), with revenue significantly lower than forecasts at $21.36 million.
• Several brokerages have set new price targets for REGENXBIO shares, with HC Wainwright recommending a target of $34.00 while Barclays and Royal Bank of Canada have lowered their targets to $37.00 and $17.00, respectively.

Algert Global LLC purchased a new stake in shares of REGENXBIO Inc. (NASDAQ:RGNX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 49,578 shares of the biotechnology company's stock, valued at approximately $354,000. Algert Global LLC owned about 0.10% of REGENXBIO at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in REGENXBIO during the 1st quarter valued at approximately $35,000. Laurion Capital Management LP bought a new position in REGENXBIO during the 4th quarter valued at approximately $79,000. Pallas Capital Advisors LLC bought a new position in REGENXBIO during the 1st quarter valued at approximately $74,000. Tower Research Capital LLC TRC raised its position in REGENXBIO by 442.0% during 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 last quarter. Finally, Corton Capital Inc. bought a new position in REGENXBIO during the 4th quarter valued at approximately $103,000. Institutional investors own 88.08% of the company's stock.

REGENXBIO Stock Performance

Shares of REGENXBIO stock traded down $0.08 during midday trading on Friday, hitting $8.93. The company had a trading volume of 467,067 shares, compared to its average volume of 694,163. The stock has a market capitalization of $451.05 million, a P/E ratio of -2.60 and a beta of 1.11. The company has a 50 day moving average of $8.55 and a 200 day moving average of $8.11. 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 posted 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). The company had revenue of $21.36 million during the quarter, compared to analysts' expectations of $40.87 million. REGENXBIO had a negative return on equity of 66.95% and a negative net margin of 112.70%. Equities research analysts forecast that REGENXBIO Inc. will post -4.84 EPS for the current year.

Analyst Upgrades and Downgrades

RGNX has been the topic of a number of research analyst reports. Barclays reduced their target price on REGENXBIO from $50.00 to $37.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Royal Bank Of Canada reduced their target price on REGENXBIO from $21.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Chardan Capital reiterated a "buy" rating and set a $52.00 target price on shares of REGENXBIO in a report on Friday, August 8th. Wall Street Zen downgraded REGENXBIO from a "hold" rating to a "strong sell" rating in a report on Saturday, August 9th. Finally, HC Wainwright reiterated a "buy" rating and set a $34.00 target price on shares of REGENXBIO in a report on Tuesday, August 19th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.