REGENXBIO (NASDAQ:RGNX) Stock Price Down 6.4% - Here's Why

Shares of REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) fell 6.4% during trading on Monday . The company traded as low as $10.38 and last traded at $10.39. 365,395 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 597,460 shares. The stock had previously closed at $11.10.

Analysts Set New Price Targets

A number of brokerages have recently commented on RGNX. StockNews.com raised shares of REGENXBIO from a "sell" rating to a "hold" rating in a research note on Friday, September 20th. HC Wainwright reissued a "buy" rating and issued a $39.00 target price on shares of REGENXBIO in a research note on Wednesday, September 4th. Raymond James reissued an "outperform" rating and issued a $18.00 target price on shares of REGENXBIO in a research note on Thursday, October 10th. Finally, Barclays cut their target price on shares of REGENXBIO from $55.00 to $50.00 and set an "overweight" rating on the stock in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, REGENXBIO has an average rating of "Moderate Buy" and an average price target of $35.45.

REGENXBIO Stock Performance

The company has a market capitalization of $510.78 million, a price-to-earnings ratio of -1.76 and a beta of 1.21. The company's fifty day simple moving average is $11.31 and its two-hundred day simple moving average is $13.24.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.24. The company had revenue of $22.30 million during the quarter, compared to analyst estimates of $22.97 million. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 68.21%. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business earned ($1.66) EPS. Sell-side analysts anticipate that REGENXBIO Inc. will post -4.66 EPS for the current year.

Insiders Place Their Bets

In other REGENXBIO news, CEO Curran Simpson sold 9,648 shares of the firm's stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.04, for a total transaction of $145,105.92. Following the completion of the transaction, the chief executive officer now directly owns 170,137 shares of the company's stock, valued at $2,558,860.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Argeris N. Karabelas sold 11,000 shares of REGENXBIO stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.04, for a total value of $165,440.00. Following the completion of the transaction, the director now directly owns 11,286 shares of the company's stock, valued at approximately $169,741.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Curran Simpson sold 9,648 shares of REGENXBIO stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.04, for a total transaction of $145,105.92. Following the completion of the transaction, the chief executive officer now directly owns 170,137 shares of the company's stock, valued at $2,558,860.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,069 shares of company stock valued at $833,602 in the last ninety days. Corporate insiders own 13.13% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. nVerses Capital LLC boosted its holdings in shares of REGENXBIO by 183.3% in the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company's stock valued at $36,000 after buying an additional 2,200 shares during the period. SG Americas Securities LLC acquired a new position in REGENXBIO during the 3rd quarter valued at about $146,000. Lion Point Capital LP boosted its stake in REGENXBIO by 11.5% during the 2nd quarter. Lion Point Capital LP now owns 36,250 shares of the biotechnology company's stock valued at $424,000 after purchasing an additional 3,750 shares during the period. The Manufacturers Life Insurance Company boosted its stake in REGENXBIO by 19.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,375 shares of the biotechnology company's stock valued at $215,000 after purchasing an additional 3,015 shares during the period. Finally, Millennium Management LLC boosted its stake in REGENXBIO by 84.8% during the 2nd quarter. Millennium Management LLC now owns 306,487 shares of the biotechnology company's stock valued at $3,586,000 after purchasing an additional 140,666 shares during the period. 88.08% of the stock is owned by institutional investors and hedge funds.

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.