Walleye Capital LLC Invests $2.44 Million in REGENXBIO Inc. $RGNX

Key Points

• Walleye Capital initiated a $2.44 million position in REGENXBIO, purchasing 203,726 shares, while institutional investors and hedge funds collectively own 88.08% of the company.
• REGENXBIO reported quarterly EPS of $0.43, well above the $0.08 consensus estimate, and revenue of $108.02 million versus expectations of $97.63 million.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a $23.73 price target, although some firms recently downgraded the stock or reduced their targets.

Walleye Capital LLC bought a new stake in REGENXBIO Inc. (NASDAQ:RGNX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 203,726 shares of the biotechnology company's stock, valued at approximately $2,441,000. Walleye Capital LLC owned 0.39% of REGENXBIO at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in REGENXBIO by 60.4% during the 2nd 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. Aquatic Capital Management LLC purchased a new stake in REGENXBIO during the 3rd quarter valued at about $37,000. Entropy Technologies LP acquired a new position in shares of REGENXBIO in the first quarter valued at about $87,000. Captrust Financial Advisors acquired a new position in shares of REGENXBIO in the second quarter valued at about $85,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of REGENXBIO in the fourth quarter worth about $150,000. 88.08% of the stock is owned by institutional investors and hedge funds.

REGENXBIO Stock Performance

Shares of REGENXBIO stock opened at $10.77 on Friday. The firm has a 50-day simple moving average of $10.42 and a two-hundred day simple moving average of $9.29. REGENXBIO Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $16.19. The company has a market cap of $710.93 million, a P/E ratio of -2.84 and a beta of 0.94.

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, beating analysts' consensus estimates of $0.08 by $0.35. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%.The firm had revenue of $108.02 million for the quarter, compared to analysts' expectations of $97.63 million. Equities research analysts forecast that REGENXBIO Inc. will post -3.91 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RGNX shares. Wall Street Zen raised REGENXBIO from a "strong sell" rating to a "hold" rating in a report on Saturday, August 8th. Bank of America cut their price target on shares of REGENXBIO from $25.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, May 15th. Weiss Ratings reissued a "sell (e+)" rating on shares of REGENXBIO in a research report on Monday, June 8th. Barclays cut shares of REGENXBIO from an "overweight" rating to a "hold" rating in a research note on Friday, August 7th. Finally, HC Wainwright dropped their price objective on shares of REGENXBIO from $26.00 to $23.00 and set a "buy" rating on the stock in a report on Monday. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, REGENXBIO has an average rating of "Moderate Buy" and a consensus target price of $23.73.

Insiders Place Their Bets

In other REGENXBIO news, insider Steve Pakola sold 36,725 shares of the stock in a transaction that occurred 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 transaction, the insider owned 213,009 shares in the company, valued at approximately $2,739,295.74. This represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 58,494 shares of company stock valued at $718,232. Corporate insiders own 14.22% of the company's stock.

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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