Corient Private Wealth LP Makes New $2.61 Million Investment in REGENXBIO Inc. $RGNX

Key Points

• Corient Private Wealth LP acquired 217,661 REGENXBIO shares worth approximately $2.61 million, giving it a 0.33% stake. Institutional investors and hedge funds collectively own 88.08% of the company.
• REGENXBIO reported quarterly EPS of $0.43, beating the $0.08 consensus estimate, while revenue of $108.02 million exceeded expectations. Despite the earnings beat, the company remains unprofitable, with analysts expecting a full-year loss of $3.91 per share.
• Analyst sentiment is mixed but leans positive: the stock has a “Moderate Buy” consensus rating and an average price target of $23.27 versus its reported price of $8.15. An insider also sold 36,725 shares for roughly $472,000, and insiders sold $718,232 in stock over the past 90 days.

Corient Private Wealth LP purchased a new stake in shares of REGENXBIO Inc. (NASDAQ:RGNX - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 217,661 shares of the biotechnology company's stock, valued at approximately $2,608,000. Corient Private Wealth LP owned approximately 0.33% of REGENXBIO at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RGNX. Versant Capital Management Inc raised its stake in REGENXBIO by 60.4% during the second quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company's stock worth $33,000 after acquiring an additional 1,032 shares during the period. Quantbot Technologies LP acquired a new position in REGENXBIO in the second quarter worth approximately $51,000. Legal & General Group Plc purchased a new position in REGENXBIO in the 2nd quarter worth about $56,000. Entropy Technologies LP acquired a new position in REGENXBIO during the first quarter valued at $87,000. Finally, ProShare Advisors LLC purchased a new stake in shares of REGENXBIO during the fourth quarter worth $155,000. 88.08% of the stock is owned by institutional investors and hedge funds.

REGENXBIO Price Performance

Shares of RGNX opened at $8.15 on Wednesday. The company has a market cap of $537.98 million, a PE ratio of -2.15 and a beta of 0.94. REGENXBIO Inc. has a one year low of $5.45 and a one year high of $16.19. The firm has a 50-day moving average of $9.75 and a 200-day moving average of $9.22.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.35. The business had revenue of $108.02 million during 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%. Analysts expect that REGENXBIO Inc. will post -3.91 earnings per share for the current year.

Insider Buying and Selling

In other 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 directly owned 213,009 shares in the company, valued at approximately $2,739,295.74. This represents a 14.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 58,494 shares of company stock worth $718,232. 14.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RGNX shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $18.00 price target on shares of REGENXBIO in a research report on Friday, August 7th. Weiss Ratings reissued a "sell (e+)" rating on shares of REGENXBIO in a report on Friday, September 4th. Barclays lowered shares of REGENXBIO from an "overweight" rating to a "hold" rating in a research report on Friday, August 7th. Zacks Research raised shares of REGENXBIO from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Finally, Robert W. Baird dropped their target price 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. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.27.

About REGENXBIO

REGENXBIO Inc is a biotechnology company focused on developing gene therapies for serious diseases with limited treatment options. The company uses its proprietary NAV AAV Gene Delivery Platform to design adeno-associated virus (AAV) vectors intended to deliver therapeutic genes to targeted cells and tissues.

REGENXBIO's pipeline has included investigational therapies for rare and genetic disorders, including Duchenne muscular dystrophy, Hunter syndrome, severe mucopolysaccharidosis type I, and homozygous familial hypercholesterolemia.

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