Insider Selling: REGENXBIO Inc. (NASDAQ:RGNX) CEO Sells 15,000 Shares of Stock

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) CEO Kenneth T. Mills sold 15,000 shares of the company's stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $18.19, for a total transaction of $272,850.00. Following the completion of the transaction, the chief executive officer now owns 408,035 shares in the company, valued at approximately $7,422,156.65. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

REGENXBIO Stock Down 2.7 %

REGENXBIO stock traded down $0.47 during mid-day trading on Wednesday, reaching $17.03. The company had a trading volume of 413,623 shares, compared to its average volume of 738,153. REGENXBIO Inc. has a 52 week low of $11.83 and a 52 week high of $28.80. The company has a 50 day moving average of $19.98 and a 200-day moving average of $17.86. The firm has a market cap of $835.15 million, a price-to-earnings ratio of -2.88 and a beta of 1.29.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($1.43) EPS for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.16). The business had revenue of $22.30 million for the quarter, compared to the consensus estimate of $34.01 million. REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. REGENXBIO's revenue was down 28.8% on a year-over-year basis. During the same period in the previous year, the business posted ($1.38) earnings per share. On average, analysts predict that REGENXBIO Inc. will post -3.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Stifel Nicolaus restated a "buy" rating and set a $40.00 price target on shares of REGENXBIO in a research note on Friday, April 12th. Leerink Partnrs upgraded shares of REGENXBIO from a "market perform" rating to an "outperform" rating in a research note on Wednesday, March 6th. StockNews.com upgraded shares of REGENXBIO from a "sell" rating to a "hold" rating in a research note on Thursday, April 11th. Robert W. Baird raised their target price on shares of REGENXBIO from $34.00 to $39.00 and gave the company an "outperform" rating in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada upgraded shares of REGENXBIO from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $20.00 to $35.00 in a research note on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $38.45.

Hedge Funds Weigh In On REGENXBIO

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its position in shares of REGENXBIO by 73.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 746 shares in the last quarter. Captrust Financial Advisors increased its position in shares of REGENXBIO by 742.1% during the 1st quarter. Captrust Financial Advisors now owns 960 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 846 shares in the last quarter. Royal Bank of Canada increased its position in shares of REGENXBIO by 189.8% during the 3rd quarter. Royal Bank of Canada now owns 1,397 shares of the biotechnology company's stock worth $37,000 after purchasing an additional 915 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of REGENXBIO during the 4th quarter worth about $38,000. Finally, Point72 Middle East FZE acquired a new stake in shares of REGENXBIO during the 4th quarter worth about $52,000. 88.08% of the stock is owned by institutional investors.

About REGENXBIO

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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