Y Intercept Hong Kong Ltd Invests $2.31 Million in REGENXBIO Inc. $RGNX

Key Points

• Y Intercept Hong Kong Ltd bought a new stake in REGENXBIO, purchasing 275,021 shares valued at about $2.31 million in the first quarter, representing roughly 0.53% of the company.
• REGENXBIO’s latest quarterly results were weak: it reported a loss of $1.72 per share versus expectations for a smaller loss, and revenue of $6.39 million fell well short of analyst estimates.
• Analyst sentiment is mixed but generally positive, with an average rating of “Moderate Buy” and a consensus price target of $23.82, though some firms have cut targets while others raised them.

Y Intercept Hong Kong Ltd purchased a new stake in REGENXBIO Inc. (NASDAQ:RGNX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 275,021 shares of the biotechnology company's stock, valued at approximately $2,305,000. Y Intercept Hong Kong Ltd owned approximately 0.53% of REGENXBIO at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. AQR Capital Management LLC lifted its stake in shares of REGENXBIO by 2,247.7% during the first quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company's stock valued at $4,437,000 after acquiring an additional 594,161 shares during the period. Assenagon Asset Management S.A. increased its position in REGENXBIO by 64.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company's stock worth $16,709,000 after purchasing an additional 454,977 shares during the period. Invenomic Capital Management LP bought a new stake in REGENXBIO during the 3rd quarter worth about $4,120,000. Integral Health Asset Management LLC raised its holdings in REGENXBIO by 57.1% during the 3rd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company's stock worth $10,615,000 after purchasing an additional 400,000 shares during the last quarter. Finally, State Street Corp lifted its position in REGENXBIO by 15.2% during the 4th quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company's stock valued at $32,929,000 after purchasing an additional 301,858 shares during the period. Institutional investors own 88.08% of the company's stock.

REGENXBIO Stock Performance

Shares of NASDAQ RGNX opened at $15.23 on Thursday. REGENXBIO Inc. has a 52-week low of $5.45 and a 52-week high of $16.19. The stock has a market cap of $787.39 million, a P/E ratio of -2.72 and a beta of 0.90. The firm has a 50 day moving average price of $8.66 and a 200 day moving average price of $9.93.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.36). REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%.The firm had revenue of $6.39 million during the quarter, compared to analyst estimates of $25.84 million. Analysts predict that REGENXBIO Inc. will post -3.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RGNX has been the subject of several analyst reports. Robert W. Baird lifted their price target on shares of REGENXBIO from $27.00 to $32.00 and gave the stock an "outperform" rating in a research report on Monday, June 22nd. Bank of America reduced their price objective on shares of REGENXBIO from $25.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, May 15th. Morgan Stanley set a $16.00 target price on shares of REGENXBIO in a research report on Friday, May 15th. HC Wainwright reissued a "buy" rating and issued a $26.00 price target on shares of REGENXBIO in a research note on Wednesday, July 1st. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of REGENXBIO in a research report on Monday, June 8th. Ten equities research analysts have rated the stock with a Buy rating, one has given 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 target price of $23.82.

Insiders Place Their Bets

In other news, insider Steve Pakola sold 36,725 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $12.86, for a total transaction of $472,283.50. Following the sale, the insider owned 213,009 shares of the company's stock, valued at $2,739,295.74. This trade represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 73,803 shares of company stock worth $886,937 in the last 90 days. Insiders own 14.22% of the company's stock.

REGENXBIO Company 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.

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