Corient Private Wealth LP Purchases New Stake in REGENXBIO Inc. $RGNX

Key Points

• Corient Private Wealth acquired 206,756 REGENXBIO shares worth approximately $2.48 million, giving it a 0.31% stake. Institutional investors and hedge funds collectively own 88.08% of the company.
• REGENXBIO reported quarterly EPS of $0.43, beating analysts’ $0.08 estimate, while revenue of $108.02 million also exceeded expectations. However, the company remains unprofitable, with a negative net margin of 112.58%.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $23.27 versus the stock’s reported $9.60 opening price. Recent targets ranged from $14 to $21, while insider selling totaled 58,494 shares over the past 90 days.

Corient Private Wealth LP acquired a new position in REGENXBIO Inc. (NASDAQ:RGNX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 206,756 shares of the biotechnology company's stock, valued at approximately $2,477,000. Corient Private Wealth LP owned approximately 0.31% of REGENXBIO at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RGNX. Palogic Value Management L.P. purchased a new position in REGENXBIO during the 2nd quarter valued at about $360,000. Bank of America Corp DE acquired a new stake in shares of REGENXBIO during the second quarter worth approximately $6,212,000. Hsbc Holdings PLC acquired a new stake in shares of REGENXBIO during the second quarter worth approximately $438,000. Legal & General Group Plc purchased a new position in REGENXBIO during the second quarter valued at approximately $56,000. Finally, The Manufacturers Life Insurance Company acquired a new position in REGENXBIO in the 2nd quarter valued at approximately $156,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at REGENXBIO

In other news, insider Steve Pakola sold 2,161 shares of the company's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $13.64, for a total transaction of $29,476.04. Following the completion of the sale, the insider owned 213,009 shares in the company, valued at approximately $2,905,442.76. This represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 58,494 shares of company stock valued at $718,232 over the last ninety days. 14.22% of the stock is owned by insiders.

REGENXBIO Trading Up 3.0%

RGNX stock opened at $9.60 on Thursday. REGENXBIO Inc. has a 1 year low of $5.45 and a 1 year high of $16.19. The company has a fifty day simple moving average of $11.06 and a 200 day simple moving average of $9.22. The firm has a market cap of $633.70 million, a PE ratio of -2.53 and a beta of 0.94.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RGNX shares. HC Wainwright decreased 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 upped their price target on shares of REGENXBIO from $17.00 to $18.00 and gave the stock an "outperform" rating in a research note on Monday, June 22nd. Wall Street Zen raised REGENXBIO from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 8th. Bank of America lowered their target price on REGENXBIO from $25.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, May 15th. Finally, Zacks Research raised REGENXBIO from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.27.

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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