Millennium Management LLC boosted its position in shares of REGENXBIO Inc. (NASDAQ:RGNX - Free Report) by 406.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,322,344 shares of the biotechnology company's stock after acquiring an additional 1,061,187 shares during the period. Millennium Management LLC owned 2.67% of REGENXBIO worth $10,222,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in REGENXBIO by 67.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company's stock worth $31,975,000 after acquiring an additional 1,659,206 shares during the period. Price T Rowe Associates Inc. MD raised its stake in REGENXBIO by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,910 shares of the biotechnology company's stock worth $185,000 after acquiring an additional 1,982 shares during the period. BNP Paribas Financial Markets raised its stake in REGENXBIO by 370.1% during the 4th quarter. BNP Paribas Financial Markets now owns 96,093 shares of the biotechnology company's stock worth $743,000 after acquiring an additional 75,652 shares during the period. Wells Fargo & Company MN raised its stake in REGENXBIO by 34.0% during the 4th quarter. Wells Fargo & Company MN now owns 48,437 shares of the biotechnology company's stock worth $374,000 after acquiring an additional 12,285 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in REGENXBIO during the 4th quarter worth approximately $568,000. Institutional investors own 88.08% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of REGENXBIO from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. HC Wainwright cut their price objective on shares of REGENXBIO from $36.00 to $34.00 and set a "buy" rating for the company in a report on Monday, March 17th. Raymond James initiated coverage on shares of REGENXBIO in a report on Friday, February 7th. They set an "outperform" rating and a $27.00 price objective for the company. Leerink Partners set a $24.00 price objective on shares of REGENXBIO in a report on Tuesday, March 18th. Finally, Morgan Stanley increased their price objective on shares of REGENXBIO from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, March 14th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.63.
Get Our Latest Report on RGNX
Insider Buying and Selling
In related news, Director Kenneth T. Mills sold 20,602 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $7.91, for a total value of $162,961.82. Following the completion of the sale, the director now directly owns 475,103 shares in the company, valued at $3,758,064.73. This trade represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.79% of the stock is owned by corporate insiders.
REGENXBIO Trading Up 3.2%
Shares of RGNX stock traded up $0.27 on Thursday, reaching $8.81. The company's stock had a trading volume of 148,616 shares, compared to its average volume of 886,233. The stock's fifty day simple moving average is $7.87 and its 200-day simple moving average is $7.99. REGENXBIO Inc. has a 1 year low of $5.04 and a 1 year high of $15.36. The company has a market capitalization of $441.91 million, a price-to-earnings ratio of -1.75 and a beta of 1.11.
REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its earnings results on Monday, May 12th. The biotechnology company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.29). REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. The business had revenue of $89.01 million during the quarter, compared to analysts' expectations of $105.35 million. Equities research analysts forecast that REGENXBIO Inc. will post -4.84 earnings per share for the current year.
About REGENXBIO
(
Free Report)
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.
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