Bank of New York Mellon Corp Sells 159,253 Shares of REGENXBIO Inc. (NASDAQ:RGNX)

Bank of New York Mellon Corp lowered its holdings in shares of REGENXBIO Inc. (NASDAQ:RGNX - Free Report) by 49.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,136 shares of the biotechnology company's stock after selling 159,253 shares during the period. Bank of New York Mellon Corp owned about 0.33% of REGENXBIO worth $1,246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RGNX. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of REGENXBIO during the 3rd quarter valued at about $643,000. Intech Investment Management LLC bought a new position in REGENXBIO during the third quarter worth about $161,000. Charles Schwab Investment Management Inc. lifted its stake in REGENXBIO by 9.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 417,739 shares of the biotechnology company's stock worth $4,382,000 after purchasing an additional 37,055 shares during the period. FMR LLC boosted its holdings in REGENXBIO by 166.8% during the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 1,656 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of REGENXBIO by 602.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,441 shares of the biotechnology company's stock valued at $214,000 after purchasing an additional 17,533 shares during the period. Institutional investors own 88.08% of the company's stock.

REGENXBIO Trading Down 3.5 %

Shares of NASDAQ:RGNX traded down $0.29 during trading on Thursday, hitting $7.91. 513,608 shares of the company's stock were exchanged, compared to its average volume of 985,521. The firm has a market cap of $396.18 million, a P/E ratio of -1.57 and a beta of 1.35. The firm has a 50-day moving average price of $7.37 and a two-hundred day moving average price of $8.82. REGENXBIO Inc. has a 1-year low of $5.62 and a 1-year high of $22.42.

Remove Ads

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) EPS for the quarter, topping analysts' consensus estimates of ($1.27) by $0.26. The firm had revenue of $21.21 million during the quarter, compared to analyst estimates of $23.70 million. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. As a group, research analysts predict that REGENXBIO Inc. will post -4.84 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on RGNX. Raymond James assumed coverage on REGENXBIO in a research note on Friday, February 7th. They issued an "outperform" rating and a $27.00 price target on the stock. Chardan Capital reaffirmed a "buy" rating and issued a $52.00 target price on shares of REGENXBIO in a report on Thursday, March 20th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $30.00 price objective on shares of REGENXBIO in a research note on Tuesday, January 21st. The Goldman Sachs Group downgraded REGENXBIO from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $38.00 to $14.00 in a report on Tuesday, February 11th. Finally, Morgan Stanley lifted their price objective on REGENXBIO from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.78.

About REGENXBIO

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.