REGENXBIO (NASDAQ:RGNX) Trading Down 4.8% - Time to Sell?

Key Points

• REGENXBIO shares fell 4.8% to about $9.19, with trading volume down 88% from the average. The stock’s market capitalization is approximately $624 million.
• Analyst sentiment remains generally positive, with nine Buy, three Hold and one Sell rating; the consensus is “Moderate Buy” with an average price target of $23.27. However, Barclays downgraded the stock to Hold and several firms reduced their price targets.
• The company exceeded quarterly expectations, reporting $0.43 in earnings per share versus $0.08 expected and $108.02 million in revenue versus $97.63 million projected. Despite this beat, REGENXBIO remains unprofitable, and insiders sold 58,494 shares worth about $718,000 over the past three months.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) shares traded down 4.8% on Monday . The stock traded as low as $9.10 and last traded at $9.1940. Approximately 176,727 shares traded hands during trading, a decline of 88% from the average daily volume of 1,441,677 shares. The stock had previously closed at $9.66.

Analyst Ratings Changes

Several brokerages have recently issued reports on RGNX. Leerink Partners boosted their price objective on REGENXBIO from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Monday, June 22nd. Wall Street Zen upgraded REGENXBIO from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 8th. Barclays downgraded REGENXBIO from an "overweight" rating to a "hold" rating in a report on Friday, August 7th. Robert W. Baird lowered their price objective on REGENXBIO from $32.00 to $29.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 25th. Finally, HC Wainwright dropped their price objective on shares of REGENXBIO from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Tuesday, August 25th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, REGENXBIO has an average rating of "Moderate Buy" and an average target price of $23.27.

REGENXBIO Trading Down 2.2%

The stock has a market capitalization of $623.79 million, a price-to-earnings ratio of -2.49 and a beta of 0.94. The stock has a 50-day moving average price of $11.07 and a 200 day moving average price of $9.20.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.35. The company had revenue of $108.02 million during the quarter, compared to analysts' expectations of $97.63 million. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%. Equities research analysts anticipate that REGENXBIO Inc. will post -3.91 earnings per share for the current year.

Insider Activity at REGENXBIO

In other news, insider Steve Pakola sold 2,161 shares of the company's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $13.64, for a total transaction of $29,476.04. Following the completion of the transaction, the insider directly owned 213,009 shares of the company's stock, valued at $2,905,442.76. This represents a 1.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 58,494 shares of company stock valued at $718,232 in the last three months. 14.22% of the stock is owned by insiders.

Institutional Investors Weigh In On REGENXBIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its position in shares of REGENXBIO by 60.4% during the 2nd quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 1,032 shares during the period. Deutsche Bank AG raised its position in REGENXBIO by 0.8% in the fourth quarter. Deutsche Bank AG now owns 192,582 shares of the biotechnology company's stock valued at $2,773,000 after purchasing an additional 1,527 shares during the period. Captrust Financial Advisors lifted its stake in REGENXBIO by 13.2% during the fourth quarter. Captrust Financial Advisors now owns 15,228 shares of the biotechnology company's stock worth $219,000 after purchasing an additional 1,781 shares in the last quarter. Diversified Trust Co lifted its stake in REGENXBIO by 15.9% during the first quarter. Diversified Trust Co now owns 15,499 shares of the biotechnology company's stock worth $130,000 after purchasing an additional 2,121 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of REGENXBIO by 12.2% during the fourth quarter. Intech Investment Management LLC now owns 21,367 shares of the biotechnology company's stock worth $308,000 after buying an additional 2,327 shares during the period. Hedge funds and other institutional investors own 88.08% of the company's stock.

REGENXBIO Company Profile

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO's pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.

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