REGENXBIO (NASDAQ:RGNX) Shares Gap Down - What's Next?

Key Points

• REGENXBIO shares gapped down from a previous close of $12.34 to open at $11.52, last trading at $11.78 with a total trading volume of 94,156 shares.
• Wall Street analysts have given mixed ratings, with a consensus rating of "Moderate Buy" and a price target average of $28.38, while one firm downgraded it to "strong sell."
• The company's quarterly earnings report revealed a loss of $1.38 per share, which missed analyst expectations, alongside significantly lower revenue than anticipated.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $12.34, but opened at $11.52. REGENXBIO shares last traded at $11.78, with a volume of 94,156 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wall Street Zen cut shares of REGENXBIO from a "hold" rating to a "strong sell" rating in a research report 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 on the stock in a research report on Friday, August 8th. Chardan Capital restated a "buy" rating and set a $52.00 price objective on shares of REGENXBIO in a report on Monday, September 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. Finally, HC Wainwright restated a "buy" rating and issued a $34.00 price objective on shares of REGENXBIO in a report on Tuesday, October 7th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $28.38.

REGENXBIO Price Performance

The company has a market capitalization of $591.07 million, a P/E ratio of -3.40 and a beta of 1.17. The business has a 50-day moving average of $9.56 and a 200-day moving average of $8.78.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $21.36 million during the quarter, compared to the consensus estimate of $40.87 million. REGENXBIO had a negative net margin of 112.70% and a negative return on equity of 66.95%. Sell-side analysts predict that REGENXBIO Inc. will post -4.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Curran Simpson sold 20,811 shares of the company's stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $12.62, for a total value of $262,634.82. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 36,169 shares of company stock valued at $416,598 in the last 90 days. 12.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Brooklyn Investment Group increased its position in shares of REGENXBIO by 163.7% during the first quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 3,466 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in REGENXBIO by 754.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company's stock worth $46,000 after buying an additional 5,000 shares during the period. Captrust Financial Advisors purchased a new position in shares of REGENXBIO in the 2nd quarter valued at approximately $85,000. Prudential Financial Inc. purchased a new stake in shares of REGENXBIO in the second quarter valued at approximately $87,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in REGENXBIO by 271.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 10,839 shares of the biotechnology company's stock worth $89,000 after purchasing an additional 7,924 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

REGENXBIO Company Profile

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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