Regenxbio (RGNX) Trading Down 7.8% Following Insider Selling

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Regenxbio Inc (NASDAQ:RGNX) shares dropped 7.8% during mid-day trading on Monday following insider selling activity. The stock traded as low as $48.71 and last traded at $50.39. Approximately 1,286,960 shares were traded during trading, an increase of 137% from the average daily volume of 543,849 shares. The stock had previously closed at $54.65.

Specifically, CFO Vittal Vasista sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $60.75, for a total transaction of $607,500.00. Following the transaction, the chief financial officer now directly owns 230,915 shares in the company, valued at $14,028,086.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patrick J. Christmas sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $53.23, for a total transaction of $266,150.00. Following the transaction, the senior vice president now owns 6,547 shares in the company, valued at $348,496.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,200 shares of company stock worth $5,231,952. Company insiders own 16.90% of the company’s stock.

A number of brokerages have recently issued reports on RGNX. BidaskClub lowered shares of Regenxbio from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. ValuEngine upgraded shares of Regenxbio from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 5th. Evercore ISI upgraded shares of Regenxbio from an “in-line” rating to an “outperform” rating and set a $51.25 target price on the stock in a research report on Monday, February 25th. Zacks Investment Research lowered shares of Regenxbio from a “buy” rating to a “hold” rating in a research report on Saturday, February 23rd. Finally, Raymond James upgraded shares of Regenxbio from an “outperform” rating to a “strong-buy” rating and set a $94.00 target price on the stock in a research report on Tuesday, February 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Regenxbio has a consensus rating of “Buy” and an average price target of $77.97.

The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 21.17 and a beta of 0.47. The company has a current ratio of 15.24, a quick ratio of 15.24 and a debt-to-equity ratio of 0.01.

Regenxbio (NASDAQ:RGNX) last announced its quarterly earnings data on Wednesday, February 27th. The biotechnology company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.43. Regenxbio had a net margin of 45.74% and a return on equity of 22.33%. Equities research analysts forecast that Regenxbio Inc will post -3.22 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Regenxbio by 2.1% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,192 shares of the biotechnology company’s stock valued at $470,000 after buying an additional 225 shares during the period. State of Alaska Department of Revenue lifted its holdings in Regenxbio by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 10,310 shares of the biotechnology company’s stock valued at $590,000 after buying an additional 245 shares during the period. Piedmont Investment Advisors Inc. lifted its holdings in Regenxbio by 5.8% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 7,198 shares of the biotechnology company’s stock valued at $302,000 after buying an additional 395 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Regenxbio by 8.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 5,364 shares of the biotechnology company’s stock valued at $225,000 after buying an additional 398 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in Regenxbio by 3.6% in the fourth quarter. New York State Teachers Retirement System now owns 12,649 shares of the biotechnology company’s stock valued at $531,000 after buying an additional 438 shares during the period. Institutional investors and hedge funds own 82.18% of the company’s stock.

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Regenxbio Company Profile (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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