Ieq Capital LLC Buys Shares of 141,469 REGENXBIO Inc. $RGNX

Key Points

• Ieq Capital acquired 141,469 REGENXBIO shares worth approximately $1.7 million, representing about 0.27% of the company. Institutional investors collectively own 88.08% of RGNX.
• REGENXBIO reported quarterly EPS of $0.43, beating estimates of $0.08, while revenue of $108.02 million exceeded expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $23.27.
• Key risks remain significant: the FDA placed a clinical hold on the company’s RGX-121 Hunter syndrome program after MRI abnormalities were found in five participants, while shareholder litigation scrutiny has also increased.

Ieq Capital LLC purchased a new stake in shares of REGENXBIO Inc. (NASDAQ:RGNX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 141,469 shares of the biotechnology company's stock, valued at approximately $1,695,000. Ieq Capital LLC owned about 0.27% of REGENXBIO at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RGNX. BlackRock Inc. bought a new stake in REGENXBIO in the 2nd quarter valued at about $76,641,000. Vanguard Group Inc. boosted its position in REGENXBIO by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 3,374,140 shares of the biotechnology company's stock worth $48,588,000 after purchasing an additional 36,042 shares during the period. State Street Corp increased its stake in shares of REGENXBIO by 15.2% in the fourth quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company's stock worth $32,929,000 after purchasing an additional 301,858 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of REGENXBIO by 5.6% in the fourth quarter. AQR Capital Management LLC now owns 1,361,962 shares of the biotechnology company's stock worth $19,612,000 after purchasing an additional 72,307 shares in the last quarter. Finally, Integral Health Asset Management LLC raised its position in shares of REGENXBIO by 9.1% in the fourth quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the biotechnology company's stock valued at $17,280,000 after purchasing an additional 100,000 shares during the period. Institutional investors own 88.08% of the company's stock.

REGENXBIO Stock Performance

REGENXBIO stock opened at $8.91 on Wednesday. REGENXBIO Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $16.19. The stock has a market cap of $588.15 million, a P/E ratio of -2.35 and a beta of 0.94. The firm's fifty day moving average price is $10.97 and its 200-day moving average price is $9.21.

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

Insider Activity

In other news, insider Steve Pakola sold 2,161 shares of REGENXBIO 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 trade represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 58,494 shares of company stock worth $718,232. Company insiders own 14.22% of the company's stock.

Wall Street Analyst Weigh In

RGNX has been the topic of a number of recent research reports. Weiss Ratings restated a "sell (e+)" rating on shares of REGENXBIO in a research note on Monday, June 8th. Leerink Partners boosted their target price on shares of REGENXBIO from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Monday, June 22nd. Barclays downgraded REGENXBIO from an "overweight" rating to a "hold" rating in a research report on Friday, August 7th. Zacks Research upgraded REGENXBIO from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $18.00 price objective on shares of REGENXBIO in a research note on Friday, August 7th. 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 has an average rating of "Moderate Buy" and a consensus target price of $23.27.

Key Headlines Impacting REGENXBIO

Here are the key news stories impacting REGENXBIO this week:

• Positive Sentiment: Analysts remain bullish despite lower targets. HC Wainwright reduced its price target to $21 from $23 while maintaining a “buy” rating, and Robert W. Baird cut its target to $29 from $32 while retaining an “outperform” rating. Both targets imply substantial potential upside from recent trading levels. Analyst price target updates
• Positive Sentiment: REGENXBIO added biotechnology investor Greg Ciongoli as an independent director. The company said the appointment strengthens its board and adds industry and investment experience. REGENXBIO appoints Greg Ciongoli to board
• Neutral Sentiment: Reported short-interest data shows no measurable short position. The August 25 report lists short interest at zero shares and a zero-day short-interest ratio, but the reported “increase” is mathematically invalid because both comparison figures are zero. The data therefore provides little useful trading information.
• Negative Sentiment: The FDA placed a clinical hold on RGX-121, REGENXBIO’s investigational treatment for Hunter syndrome. Spinal MRI scans identified asymptomatic abnormalities, described as nodules or masses, in five trial participants. The hold delays development of the company’s leading program and was the primary catalyst for the recent selloff. FDA places clinical hold on RGX-121
• Negative Sentiment: Shareholder litigation scrutiny has increased. Johnson Fistel is investigating potential fiduciary-duty claims involving company officers and directors, including whether long-term shareholders may recover losses following the clinical setback. Although the investigation is not an established finding of wrongdoing, it adds legal and reputational risk. Johnson Fistel investigation

REGENXBIO Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source