REGENXBIO (NASDAQ:RGNX) Shares Pass Below 200-Day Moving Average - Should You Sell?

Key Points

• Shares slipped below the 200-day moving average, trading as low as $9.03 and last at $9.11 versus the 200-day MA of $11.31 (50-day MA $8.66) on elevated volume.
• Quarterly results disappointed: REGENXBIO reported ($1.30) EPS versus ($1.01) expected and revenue of $30.34M vs. $45.48M consensus, with a negative net margin of 113.75% and negative return on equity of 103.12%.
• Analyst views are mixed: the consensus is a "Moderate Buy" with an average target of $27.50, but several firms have cut targets or issued downgrades (including Weiss and Wall Street Zen selling, Goldman Sachs and Morgan Stanley lowering targets).

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.31 and traded as low as $9.03. REGENXBIO shares last traded at $9.11, with a volume of 638,742 shares trading hands.

Analysts Set New Price Targets

RGNX has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of REGENXBIO in a research note on Thursday, January 22nd. Robert W. Baird set a $27.00 target price on shares of REGENXBIO in a research note on Tuesday, February 10th. Morgan Stanley decreased their target price on shares of REGENXBIO from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Thursday, March 5th. The Goldman Sachs Group decreased their target price on shares of REGENXBIO from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, February 10th. Finally, Wall Street Zen downgraded shares of REGENXBIO from a "hold" rating to a "sell" rating in a research note on Saturday, January 31st. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $27.50.

REGENXBIO Price Performance

The company has a market cap of $470.26 million, a P/E ratio of -2.42 and a beta of 1.14. The company's 50-day moving average is $8.66 and its two-hundred day moving average is $11.31.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last announced its quarterly earnings results on Thursday, March 5th. The biotechnology company reported ($1.30) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.29). REGENXBIO had a negative net margin of 113.75% and a negative return on equity of 103.12%. The firm had revenue of $30.34 million for the quarter, compared to the consensus estimate of $45.48 million. Equities research analysts anticipate that REGENXBIO Inc. will post -2.34 EPS for the current year.

Insider Buying and Selling

In other REGENXBIO news, insider Steve Pakola sold 5,124 shares of REGENXBIO stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $10.35, for a total value of $53,033.40. Following the completion of the sale, the insider owned 247,926 shares of the company's stock, valued at approximately $2,566,034.10. The trade was a 2.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.79% of the company's stock.

Institutional Investors Weigh In On REGENXBIO

A number of large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in REGENXBIO by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company's stock worth $38,959,000 after purchasing an additional 185,223 shares during the period. Vanguard Group Inc. grew its position in REGENXBIO by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 3,374,140 shares of the biotechnology company's stock worth $48,588,000 after purchasing an additional 36,042 shares during the period. State Street Corp grew its position in REGENXBIO by 15.2% in the 4th quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company's stock worth $32,929,000 after purchasing an additional 301,858 shares during the period. AQR Capital Management LLC boosted its stake in shares of REGENXBIO by 5.6% during the 4th quarter. AQR Capital Management LLC now owns 1,361,962 shares of the biotechnology company's stock worth $19,612,000 after acquiring an additional 72,307 shares during the last quarter. Finally, Integral Health Asset Management LLC boosted its stake in shares of REGENXBIO by 9.1% during the 4th quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the biotechnology company's stock worth $17,280,000 after acquiring an additional 100,000 shares during the last quarter. Institutional investors own 88.08% of the company's stock.

About REGENXBIO

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.