REGENXBIO (NASDAQ:RGNX) Shares Down 6% - Here's What Happened

Key Points

• REGENXBIO shares fell 6% to approximately $8.17 in mid-day trading, with volume down 89% from the average session level. The stock has a $518.2 million market capitalization and trades below its 50-day moving average.
• Analyst sentiment remains mixed but generally favorable: the stock has a consensus “Moderate Buy” rating and an average price target of $23.27, despite some analysts maintaining hold or sell ratings.
• The company exceeded quarterly expectations, reporting $0.43 in EPS versus the $0.08 estimate and revenue of $108.02 million versus $97.63 million expected. However, REGENXBIO continues to post significant losses, with analysts forecasting a full-year loss of $3.91 per share.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) shares fell 6% during mid-day trading on Tuesday . The company traded as low as $8.28 and last traded at $8.1670. 155,007 shares were traded during mid-day trading, a decline of 89% from the average session volume of 1,419,530 shares. The stock had previously closed at $8.69.

Analyst Ratings Changes

Several analysts recently commented on RGNX shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $18.00 price target on shares of REGENXBIO in a research note on Friday, August 7th. Wall Street Zen raised REGENXBIO from a "strong sell" rating to a "hold" rating in a report on Saturday, August 8th. Zacks Research raised shares of REGENXBIO from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Robert W. Baird reduced their price target 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. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of REGENXBIO in a research note on Friday, September 4th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, REGENXBIO currently has a consensus rating of "Moderate Buy" and an average price target of $23.27.

REGENXBIO Stock Down 9.7%

The stock has a fifty day moving average of $10.49 and a 200-day moving average of $9.26. The firm has a market capitalization of $518.18 million, a P/E ratio of -2.07 and a beta of 0.94.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.35. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. The firm had revenue of $108.02 million for the quarter, compared to analyst estimates of $97.63 million. As a group, analysts forecast that REGENXBIO Inc. will post -3.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other REGENXBIO news, insider Steve Pakola sold 36,725 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.86, for a total value of $472,283.50. Following the transaction, the insider directly owned 213,009 shares in the company, valued at approximately $2,739,295.74. This trade represents a 14.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 58,494 shares of company stock valued at $718,232. Insiders own 14.22% of the company's stock.

Institutional Trading of REGENXBIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Walleye Capital LLC bought a new stake in shares of REGENXBIO during the second quarter worth approximately $2,441,000. Dimensional Fund Advisors LP lifted its stake in shares of REGENXBIO by 11.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,010,381 shares of the biotechnology company's stock valued at $8,464,000 after purchasing an additional 106,530 shares during the period. Propel Bio Management LLC acquired a new position in shares of REGENXBIO in the 4th quarter valued at $1,683,000. Royce & Associates LP bought a new position in shares of REGENXBIO in the 4th quarter worth $1,714,000. Finally, Bank of New York Mellon Corp bought a new stake in REGENXBIO in the second quarter valued at about $1,608,000. 88.08% of the stock is owned by institutional investors.

About REGENXBIO

REGENXBIO Inc is a biotechnology company focused on developing gene therapies for serious diseases with limited treatment options. The company uses its proprietary NAV AAV Gene Delivery Platform to design adeno-associated virus (AAV) vectors intended to deliver therapeutic genes to targeted cells and tissues.

REGENXBIO's pipeline has included investigational therapies for rare and genetic disorders, including Duchenne muscular dystrophy, Hunter syndrome, severe mucopolysaccharidosis type I, and homozygous familial hypercholesterolemia.

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