Regenxbio (NASDAQ:RGNX) Hits New 52-Week Low Following Insider Selling

Regenxbio Inc (NASDAQ:RGNX) shares reached a new 52-week low during trading on Thursday after an insider sold shares in the company. The stock traded as low as $35.34 and last traded at $35.50, with a volume of 4783 shares changing hands. The stock had previously closed at $36.80.

Specifically, SVP Curran Simpson sold 18,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $50.00, for a total transaction of $900,000.00. Following the completion of the sale, the senior vice president now directly owns 57,500 shares of the company’s stock, valued at $2,875,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kenneth T. Mills sold 15,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $37.55, for a total transaction of $563,250.00. Following the sale, the insider now directly owns 261,000 shares of the company’s stock, valued at $9,800,550. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,000 shares of company stock valued at $3,508,800. Company insiders own 13.80% of the company’s stock.

A number of research firms recently issued reports on RGNX. TheStreet lowered shares of Regenxbio from a “c” rating to a “d+” rating in a research note on Thursday, May 9th. Zacks Investment Research upgraded shares of Regenxbio from a “sell” rating to a “hold” rating in a research note on Thursday, July 25th. Chardan Capital reiterated a “buy” rating and issued a $150.00 target price (up from $145.00) on shares of Regenxbio in a research note on Tuesday, June 18th. Leerink Swann upgraded shares of Regenxbio from an “underperform” rating to a “market perform” rating in a research note on Tuesday. They noted that the move was a valuation call. Finally, Svb Leerink upgraded shares of Regenxbio from an “underperform” rating to a “market perform” rating and lowered their target price for the company from $38.00 to $37.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $79.56.

The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 14.89 and a beta of 0.71. The business’s 50 day moving average price is $44.23 and its 200-day moving average price is $49.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.58 and a current ratio of 14.58.

Regenxbio (NASDAQ:RGNX) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.46. The business had revenue of $7.88 million for the quarter, compared to analyst estimates of $5.45 million. Regenxbio had a negative net margin of 88.57% and a negative return on equity of 15.39%. The company’s revenue for the quarter was down 80.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 EPS. On average, analysts forecast that Regenxbio Inc will post -2.85 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mckinley Capital Management LLC Delaware raised its stake in shares of Regenxbio by 51.8% in the first quarter. Mckinley Capital Management LLC Delaware now owns 888 shares of the biotechnology company’s stock valued at $51,000 after acquiring an additional 303 shares in the last quarter. Berman Capital Advisors LLC boosted its position in shares of Regenxbio by 41.6% during the second quarter. Berman Capital Advisors LLC now owns 1,133 shares of the biotechnology company’s stock worth $58,000 after buying an additional 333 shares during the period. NEXT Financial Group Inc purchased a new position in shares of Regenxbio during the second quarter worth $69,000. SG3 Management LLC purchased a new position in shares of Regenxbio during the first quarter worth $115,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Regenxbio by 9.5% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,594 shares of the biotechnology company’s stock worth $149,000 after buying an additional 225 shares during the period. Hedge funds and other institutional investors own 81.07% of the company’s stock.

About Regenxbio (NASDAQ:RGNX)

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.

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