REGENXBIO (NASDAQ:RGNX) Shares Down 3.1% on Insider Selling

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) shares dropped 3.1% during trading on Thursday following insider selling activity. The company traded as low as $16.21 and last traded at $16.50. Approximately 113,665 shares were traded during trading, a decline of 84% from the average daily volume of 729,422 shares. The stock had previously closed at $17.03.

Specifically, CEO Kenneth T. Mills sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total value of $251,400.00. Following the transaction, the chief executive officer now owns 408,035 shares in the company, valued at $6,838,666.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Kenneth T. Mills sold 15,000 shares of the firm's stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total value of $251,400.00. Following the completion of the sale, the chief executive officer now owns 408,035 shares of the company's stock, valued at $6,838,666.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steve Pakola sold 12,878 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the sale, the insider now directly owns 107,192 shares of the company's stock, valued at approximately $3,039,965.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,878 shares of company stock worth $1,217,370. Insiders own 13.13% of the company's stock.

Analysts Set New Price Targets

RGNX has been the subject of a number of research analyst reports. Robert W. Baird raised their price target on REGENXBIO from $34.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 6th. HC Wainwright reissued a "buy" rating and set a $36.00 price objective on shares of REGENXBIO in a research report on Monday, March 11th. Chardan Capital reissued a "buy" rating and set a $52.00 price objective on shares of REGENXBIO in a research report on Thursday, March 7th. StockNews.com raised REGENXBIO from a "sell" rating to a "hold" rating in a research report on Thursday, April 11th. Finally, Stifel Nicolaus reissued a "buy" rating and set a $40.00 price objective on shares of REGENXBIO in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $38.45.

REGENXBIO Trading Down 5.4 %

The firm has a fifty day moving average of $20.03 and a 200 day moving average of $17.84. The company has a market capitalization of $790.03 million, a P/E ratio of -2.67 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 the consensus estimate of ($1.27) by ($0.16). REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The business had revenue of $22.30 million during the quarter, compared to the consensus estimate of $34.01 million. During the same quarter in the previous year, the business posted ($1.38) earnings per share. REGENXBIO's quarterly revenue was down 28.8% compared to the same quarter last year. Sell-side analysts anticipate that REGENXBIO Inc. will post -3.98 EPS for the current fiscal year.

Institutional Investors Weigh In On REGENXBIO

Several large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of REGENXBIO during the 1st quarter valued at about $56,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of REGENXBIO by 44.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 106,284 shares of the biotechnology company's stock valued at $2,239,000 after purchasing an additional 32,584 shares during the period. Napatree Capital LLC bought a new stake in shares of REGENXBIO during the 4th quarter valued at about $720,000. PNC Financial Services Group Inc. grew its stake 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 valued at $32,000 after purchasing an additional 746 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of REGENXBIO by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,440,838 shares of the biotechnology company's stock valued at $79,713,000 after purchasing an additional 64,265 shares during the period. 88.08% of the stock is currently 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.