Bank of New York Mellon Corp Purchases New Holdings in REGENXBIO Inc. $RGNX

Key Points

• Bank of New York Mellon acquired 134,194 REGENXBIO shares worth approximately $1.61 million in the second quarter, while institutional investors collectively owned 88.08% of the company.
• Analysts maintain a generally positive outlook, with nine Buy ratings, three Holds and one Sell; the consensus rating is Moderate Buy with a $23.27 price target.
• REGENXBIO reported quarterly EPS of $0.43, beating estimates of $0.08, and revenue of $108.02 million versus expectations of $97.63 million. However, the stock opened at $8.76, and insiders have sold $718,232 in shares over the past 90 days.

Bank of New York Mellon Corp acquired a new position in REGENXBIO Inc. (NASDAQ:RGNX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 134,194 shares of the biotechnology company's stock, valued at approximately $1,608,000. Bank of New York Mellon Corp owned 0.26% of REGENXBIO at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RGNX. GSA Capital Partners LLP purchased a new stake in shares of REGENXBIO in the second quarter worth approximately $271,000. Walleye Capital LLC bought a new position in REGENXBIO in the 2nd quarter valued at $2,441,000. Versant Capital Management Inc increased its stake in REGENXBIO by 60.4% in the second quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 1,032 shares during the period. Militia Capital Management LLC purchased a new stake in REGENXBIO in the first quarter worth $281,000. Finally, Bank of America Corp DE lifted its position in shares of REGENXBIO by 8.1% during the first quarter. Bank of America Corp DE now owns 324,860 shares of the biotechnology company's stock worth $2,722,000 after purchasing an additional 24,251 shares during the last quarter. Institutional investors own 88.08% of the company's stock.

Insider Buying and Selling

In other REGENXBIO news, insider Steve Pakola sold 36,725 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.86, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 58,494 shares of company stock valued at $718,232 over the last ninety days. Insiders own 14.22% of the company's stock.

Analysts Set New Price Targets

RGNX has been the subject of a number of recent analyst reports. HC Wainwright lowered their target price on shares of REGENXBIO from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Tuesday, August 25th. Leerink Partners lifted their price objective on shares of REGENXBIO from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Monday, June 22nd. Robert W. Baird lowered their price objective on shares of REGENXBIO from $32.00 to $29.00 and set an "outperform" rating for the company in a research report on Tuesday, August 25th. Bank of America dropped their target price on shares of REGENXBIO from $25.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, May 15th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $18.00 target price on shares of REGENXBIO in a research report on Friday, August 7th. Nine investment 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 MarketBeat.com, REGENXBIO currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.27.

REGENXBIO Stock Performance

NASDAQ:RGNX opened at $8.76 on Wednesday. The firm has a 50-day simple moving average of $10.89 and a 200-day simple moving average of $9.24. REGENXBIO Inc. has a one year low of $5.45 and a one year high of $16.19. The firm has a market cap of $578.25 million, a P/E ratio of -2.31 and a beta of 0.94.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 112.58% and a negative return on equity of 220.07%. On average, research analysts predict that REGENXBIO Inc. will post -3.91 EPS for the current fiscal year.

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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