REGENXBIO (NASDAQ:RGNX) Stock Price Passes Below 50-Day Moving Average - Time to Sell?

Key Points

• REGENXBIO shares fell below their 50-day moving average, trading as low as $7.90 and last changing hands at $8.15, below the $9.75 average.
• Analyst sentiment remains broadly positive despite the technical weakness: nine analysts rate the stock Buy, three Hold, and one Sell, with a consensus price target of $23.27 versus the recent share price.
• The company beat quarterly expectations, reporting $0.43 in earnings per share versus an $0.08 estimate and $108.02 million in revenue, although it continues to post sharply negative profitability metrics and analysts expect a full-year loss.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $9.75 and traded as low as $7.90. REGENXBIO shares last traded at $8.15, with a volume of 1,202,453 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RGNX shares. Morgan Stanley reissued an "overweight" rating and set a $18.00 price objective on shares of REGENXBIO in a research report on Friday, August 7th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of REGENXBIO in a research report on Friday, September 4th. HC Wainwright cut their price target on REGENXBIO from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Tuesday, August 25th. Robert W. Baird reduced their price target on REGENXBIO from $32.00 to $29.00 and set an "outperform" rating for the company in a report on Tuesday, August 25th. Finally, Zacks Research upgraded REGENXBIO from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $23.27.

REGENXBIO Trading Up 3.4%

The stock has a fifty day moving average price of $9.75 and a 200 day moving average price of $9.22. The firm has a market cap of $537.98 million, a price-to-earnings ratio of -2.15 and a beta of 0.94.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.35. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%.The firm had revenue of $108.02 million during the quarter, compared to analyst estimates of $97.63 million. On average, sell-side analysts forecast that REGENXBIO Inc. will post -3.91 EPS for the current year.

Insider Buying and Selling at REGENXBIO

In related news, insider Steve Pakola sold 2,161 shares of the company's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total transaction of $29,476.04. Following the completion of the sale, the insider directly owned 213,009 shares of the company's stock, valued at approximately $2,905,442.76. This represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 58,494 shares of company stock valued at $718,232 in the last ninety days. 14.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. WINTON GROUP Ltd bought a new stake in REGENXBIO during the second quarter valued at about $290,000. Corient Private Wealth LP acquired a new stake in shares of REGENXBIO in the second quarter valued at about $2,608,000. AXQ Capital LP bought a new position in shares of REGENXBIO in the second quarter worth about $221,000. Palogic Value Management L.P. bought a new position in shares of REGENXBIO in the second quarter worth about $360,000. Finally, Bank of America Corp DE acquired a new position in shares of REGENXBIO during the 2nd quarter worth about $6,212,000. Institutional investors and hedge funds own 88.08% of the company's stock.

REGENXBIO Company Profile

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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