REGENXBIO (NASDAQ:RGNX) Trading Down 3.9% - Should You Sell?

Key Points

• REGENXBIO shares fell 3.9% to about $10.63 in mid-day trading, with volume down 63% from the average. The company has a market capitalization of approximately $696 million and trades below its analyst consensus price target.
• Analyst sentiment remains broadly positive despite recent target cuts: nine analysts rate the stock Buy, three Hold, and one Sell, resulting in a consensus “Moderate Buy” rating and an average target of $23.73.
• REGENXBIO beat quarterly expectations, reporting $0.43 in EPS versus the $0.08 consensus and revenue of $108.02 million versus estimates of $97.63 million. However, the company remains unprofitable, with negative net margins and analysts expecting a full-year loss.

Shares of REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) fell 3.9% during mid-day trading on Friday . The stock traded as low as $10.58 and last traded at $10.63. Approximately 526,405 shares traded hands during trading, a decline of 63% from the average daily volume of 1,422,760 shares. The stock had previously closed at $11.06.

Analysts Set New Price Targets

Several brokerages recently weighed in on RGNX. Bank of America cut their price target on REGENXBIO from $25.00 to $14.00 and set a "buy" rating for the company in a research note on Friday, May 15th. HC Wainwright dropped their price objective on REGENXBIO from $26.00 to $23.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Leerink Partners boosted their price objective on REGENXBIO from $17.00 to $18.00 and gave the company an "outperform" rating in a research report on Monday, June 22nd. Morgan Stanley reaffirmed an "overweight" rating and set a $18.00 target price on shares of REGENXBIO in a research note on Friday, August 7th. Finally, Wall Street Zen raised shares of REGENXBIO from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 8th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $23.73.

REGENXBIO Price Performance

The firm has a market cap of $696.41 million, a price-to-earnings ratio of -2.78 and a beta of 0.94. The business has a fifty day simple moving average of $10.83 and a 200 day simple moving average of $9.25.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $97.63 million. On average, research analysts anticipate that REGENXBIO Inc. will post -3.91 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Steve Pakola sold 2,161 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total value of $29,476.04. Following the completion of the sale, the insider directly owned 213,009 shares in the company, valued at $2,905,442.76. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 58,494 shares of company stock worth $718,232 over the last ninety days. 14.22% of the stock is owned by corporate insiders.

Institutional Trading of REGENXBIO

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of REGENXBIO during the 2nd quarter worth approximately $76,641,000. Vanguard Group Inc. increased its holdings in shares of REGENXBIO by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,374,140 shares of the biotechnology company's stock valued at $48,588,000 after purchasing an additional 36,042 shares during the last quarter. State Street Corp lifted its position in REGENXBIO by 15.2% during the fourth quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company's stock worth $32,929,000 after buying an additional 301,858 shares in the last quarter. AQR Capital Management LLC boosted its stake in REGENXBIO by 5.6% during the fourth quarter. AQR Capital Management LLC now owns 1,361,962 shares of the biotechnology company's stock worth $19,612,000 after buying an additional 72,307 shares during the last quarter. Finally, Integral Health Asset Management LLC grew its holdings in REGENXBIO by 9.1% in the 4th quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the biotechnology company's stock valued at $17,280,000 after buying an additional 100,000 shares in the last quarter. Institutional investors and hedge funds 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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