REGENXBIO (NASDAQ:RGNX) Shares Gap Down – Time to Sell?

REGENXBIO Inc. (NASDAQ:RGNX) shares gapped down prior to trading on Monday . The stock had previously closed at $10.72, but opened at $8.29. REGENXBIO shares last traded at $8.18, with a volume of 960,606 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $18.00 price objective on shares of REGENXBIO in a research note on Friday, August 7th. Robert W. Baird lifted their price target on shares of REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Leerink Partners boosted their price target on REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Zacks Research upgraded REGENXBIO from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of REGENXBIO in a research note on Monday, June 8th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.73.

REGENXBIO Stock Down 25.9%

The firm has a market cap of $524.32 million, a price-to-earnings ratio of -2.10 and a beta of 0.94. The business has a 50 day moving average of $10.91 and a 200 day moving average of $9.25.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.35. The firm had revenue of $108.02 million during the quarter, compared to the consensus estimate of $97.63 million. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. Research analysts predict that REGENXBIO Inc. will post -3.91 earnings per share for the current year.

Insider Activity at REGENXBIO

In other news, insider Steve Pakola sold 2,161 shares of REGENXBIO stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total transaction 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. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 58,494 shares of company stock worth $718,232 in the last ninety days. Insiders own 14.22% of the company’s stock.

Institutional Trading of REGENXBIO

A number of hedge funds have recently bought and sold shares of RGNX. BlackRock Inc. purchased a new position in shares of REGENXBIO during the 2nd quarter worth $76,641,000. AQR Capital Management LLC boosted its holdings in shares of REGENXBIO by 2,247.7% during the first quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock worth $4,437,000 after purchasing an additional 594,161 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of REGENXBIO in the second quarter valued at $6,212,000. State Street Corp grew its position in shares of REGENXBIO by 15.2% in the fourth quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock valued at $32,929,000 after purchasing an additional 301,858 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in REGENXBIO in the first quarter valued at $2,305,000. 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.