REGENXBIO (NASDAQ:RGNX) Reaches New 52-Week High - Here's Why

Key Points

• REGENXBIO shares hit a new 52-week high of $13.39, closing at $13.09 after a trading volume of 681,751 shares.
• Recent analyst ratings reflect a divided view, with one firm downgrading the stock to "strong sell," while others maintain a "buy" rating and price targets as high as $34.00.
• CEO Curran Simpson recently sold 20,811 shares for approximately $262,634, reducing their ownership stake in the company by 8.78%.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $13.39 and last traded at $13.09, with a volume of 681751 shares. The stock had previously closed at $12.64.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of REGENXBIO from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. Royal Bank Of Canada dropped their price target on shares of REGENXBIO from $21.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Barclays decreased their price objective on shares of REGENXBIO from $50.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Weiss Ratings restated a "sell (d-)" rating on shares of REGENXBIO in a report on Wednesday, October 8th. Finally, HC Wainwright restated a "buy" rating and set a $34.00 price objective on shares of REGENXBIO in a report on Tuesday, October 7th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, REGENXBIO currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.38.

REGENXBIO Stock Up 3.6%

The stock has a market cap of $661.23 million, a price-to-earnings ratio of -3.81 and a beta of 1.17. The stock's fifty day moving average is $9.84 and its 200-day moving average is $8.91.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.25). The company had revenue of $21.36 million during the quarter, compared to analyst estimates of $40.87 million. REGENXBIO had a negative net margin of 112.70% and a negative return on equity of 66.95%. As a group, equities research analysts predict that REGENXBIO Inc. will post -4.84 earnings per share for the current fiscal year.

Insider Buying and Selling at REGENXBIO

In other news, CEO Curran Simpson sold 20,811 shares of the company's stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $12.62, for a total value of $262,634.82. Following the completion of the transaction, the chief executive officer owned 216,162 shares in the company, valued at $2,727,964.44. This represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 36,169 shares of company stock valued at $416,598 in the last ninety days. 12.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RGNX. 22NW LP acquired a new position in shares of REGENXBIO in the first quarter valued at approximately $4,781,000. AQR Capital Management LLC boosted its holdings in shares of REGENXBIO by 2,247.7% in the first quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company's stock valued at $4,437,000 after buying an additional 594,161 shares during the period. Vanguard Group Inc. boosted its holdings in shares of REGENXBIO by 16.3% in the first quarter. Vanguard Group Inc. now owns 3,472,988 shares of the biotechnology company's stock valued at $24,832,000 after buying an additional 487,036 shares during the period. Exome Asset Management LLC acquired a new position in REGENXBIO during the first quarter worth $2,898,000. Finally, Trexquant Investment LP boosted its holdings in REGENXBIO by 205.6% during the first quarter. Trexquant Investment LP now owns 458,538 shares of the biotechnology company's stock worth $3,279,000 after purchasing an additional 308,516 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company's stock.

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.

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