REGENXBIO (NASDAQ:RGNX) Share Price Breaks Below Fifty Day Moving Average - Time to Sell?

Key Points

• REGENXBIO shares fell below their 50-day moving average, trading as low as $6.80 and closing near $6.88, compared with a 50-day average of $8.89.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $23.17, despite mixed individual ratings and recent target changes.
• The company exceeded quarterly earnings and revenue expectations, but continues to report substantial losses, including a negative net margin of 112.58%; institutional investors own 88.08% of the stock.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) crossed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $8.89 and traded as low as $6.80. REGENXBIO shares last traded at $6.88, with a volume of 1,562,441 shares trading hands.

Analyst Ratings Changes

A number of brokerages have commented on RGNX. Robert W. Baird dropped their price objective on shares of REGENXBIO from $32.00 to $29.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 25th. Mizuho started coverage on shares of REGENXBIO in a research report on Monday, October 5th. They set an "outperform" rating and a $22.00 price target for the company. Zacks Research raised REGENXBIO from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Leerink Partners lifted their price objective on REGENXBIO from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Monday, June 22nd. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of REGENXBIO in a report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $23.17.

REGENXBIO Stock Down 5.2%

The business's 50 day moving average is $8.89 and its 200-day moving average is $9.08. The firm has a market cap of $454.17 million, a P/E ratio of -1.82 and a beta of 1.13.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.35. The business had revenue of $108.02 million during 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%. As a group, equities analysts predict that REGENXBIO Inc. will post -3.80 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd bought a new stake in shares of REGENXBIO during the 2nd quarter worth about $290,000. Corient Private Wealth LP acquired a new position in shares of REGENXBIO during the 2nd quarter worth about $2,608,000. AXQ Capital LP acquired a new position in shares of REGENXBIO during the second quarter worth approximately $221,000. Palogic Value Management L.P. acquired a new stake in shares of REGENXBIO in the second quarter worth $360,000. Finally, Bank of America Corp DE acquired a new position in REGENXBIO during the 2nd quarter valued at $6,212,000. 88.08% of the stock is currently owned by institutional investors.

About REGENXBIO

REGENXBIO Inc is a biotechnology company focused on developing and commercializing gene therapies for serious diseases. The company's programs are based primarily on its proprietary NAV AAV Technology Platform, which uses adeno-associated virus (AAV) vectors to deliver genetic material to targeted cells. Its research has emphasized conditions affecting the central nervous system, muscles and other tissues.

REGENXBIO's pipeline has included investigational therapies such as RGX-121 for mucopolysaccharidosis type II, RGX-111 for mucopolysaccharidosis type I and RGX-202 for Duchenne muscular dystrophy.

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