REGENXBIO Inc. $RGNX Shares Newly Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 518,545 REGENXBIO shares worth approximately $6.2 million in the second quarter, representing about 0.79% of the company. Institutional investors collectively own 88.08% of RGNX.
• REGENXBIO reported quarterly EPS of $0.43, beating the $0.08 consensus estimate, while revenue of $108.02 million exceeded forecasts of $97.63 million. However, the company continues to post negative profitability metrics, including a projected full-year EPS of -$3.91.
• Analyst sentiment remains mixed but leans positive: nine analysts rate the stock a Buy, three a Hold and one a Sell, resulting in a “Moderate Buy” consensus and a $23.27 average price target versus the stock’s $7.40 opening price.

Bank of America Corp DE bought a new position in REGENXBIO Inc. (NASDAQ:RGNX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 518,545 shares of the biotechnology company's stock, valued at approximately $6,212,000. Bank of America Corp DE owned approximately 0.79% of REGENXBIO as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of REGENXBIO by 60.4% during the second quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company's stock valued at $33,000 after purchasing an additional 1,032 shares during the period. Quantbot Technologies LP bought a new stake in REGENXBIO in the 2nd quarter valued at about $51,000. Legal & General Group Plc bought a new stake in REGENXBIO in the 2nd quarter valued at about $56,000. Entropy Technologies LP acquired a new position in REGENXBIO during the 1st quarter worth approximately $87,000. Finally, ProShare Advisors LLC bought a new position in REGENXBIO in the fourth quarter worth approximately $155,000. 88.08% of the stock is owned by institutional investors.

Insider Activity

In other REGENXBIO 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 of the company's stock, valued at $2,905,442.76. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 14.22% of the company's stock.

REGENXBIO Stock Performance

Shares of RGNX stock opened at $7.40 on Monday. The company has a market capitalization of $488.47 million, a price-to-earnings ratio of -1.95 and a beta of 0.94. REGENXBIO Inc. has a 52-week low of $5.45 and a 52-week high of $16.19. The company has a 50-day simple moving average of $9.53 and a two-hundred day simple moving average of $9.18.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.08 by $0.35. The business had revenue of $108.02 million for 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%. On average, sell-side analysts forecast that REGENXBIO Inc. will post -3.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RGNX. Weiss Ratings reiterated a "sell (e+)" rating on shares of REGENXBIO in a report on Friday, September 4th. Robert W. Baird decreased their price target on shares of REGENXBIO from $32.00 to $29.00 and set an "outperform" rating for the company in a research note on Tuesday, August 25th. Barclays downgraded shares of REGENXBIO from an "overweight" rating to a "hold" rating in a report on Friday, August 7th. 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 report on Tuesday, August 25th. Finally, Wall Street Zen raised shares of REGENXBIO from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 8th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, REGENXBIO has an average rating of "Moderate Buy" and a consensus 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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