Propel Bio Management LLC Invests $1.68 Million in REGENXBIO Inc. $RGNX

Propel Bio Management LLC purchased a new position in shares of REGENXBIO Inc. (NASDAQ:RGNX) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 116,896 shares of the biotechnology company’s stock, valued at approximately $1,683,000. REGENXBIO comprises 1.4% of Propel Bio Management LLC’s holdings, making the stock its 15th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aquatic Capital Management LLC bought a new position in shares of REGENXBIO during the 3rd quarter worth $37,000. Jones Financial Companies Lllp grew its stake in shares of REGENXBIO by 44.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 1,270 shares during the period. Captrust Financial Advisors bought a new position in shares of REGENXBIO during the 2nd quarter worth $85,000. Prudential Financial Inc. bought a new position in shares of REGENXBIO during the 2nd quarter worth $87,000. Finally, ProShare Advisors LLC bought a new position in shares of REGENXBIO during the 4th quarter worth $155,000. Institutional investors own 88.08% of the company’s stock.

Analyst Ratings Changes

RGNX has been the subject of several research reports. HC Wainwright cut their price target on REGENXBIO from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Friday. The Goldman Sachs Group cut their target price on REGENXBIO from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, February 10th. Chardan Capital cut their target price on REGENXBIO from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Morgan Stanley set a $16.00 target price on REGENXBIO in a research note on Friday, May 15th. Finally, Barclays cut their target price on REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 15th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.55.

Insiders Place Their Bets

In related news, insider Steve Pakola sold 15,309 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $11.02, for a total value of $168,705.18. Following the completion of the sale, the insider owned 232,617 shares in the company, valued at $2,563,439.34. The trade was a 6.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 14.22% of the stock is owned by insiders.

REGENXBIO Trading Down 11.6%

Shares of RGNX opened at $6.08 on Friday. The company has a market cap of $314.34 million, a PE ratio of -1.09 and a beta of 1.04. The stock has a 50-day moving average price of $8.17 and a 200-day moving average price of $10.41. REGENXBIO Inc. has a 12-month low of $5.45 and a 12-month high of $16.19.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.36). The firm had revenue of $6.39 million during the quarter, compared to the consensus estimate of $25.84 million. REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%. As a group, analysts predict that REGENXBIO Inc. will post -3.59 earnings per share for the current year.

REGENXBIO 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.