Mirae Asset Global Investments Co. Ltd. Decreases Position in REGENXBIO Inc. (NASDAQ:RGNX)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of REGENXBIO Inc. (NASDAQ:RGNX) by 54.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,418 shares of the biotechnology company’s stock after selling 113,889 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in REGENXBIO were worth $1,695,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors lifted its stake in REGENXBIO by 742.1% during the first quarter. Captrust Financial Advisors now owns 960 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 846 shares during the last quarter. Royal Bank of Canada lifted its stake in REGENXBIO by 189.8% during the third quarter. Royal Bank of Canada now owns 1,397 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 915 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in REGENXBIO during the fourth quarter worth approximately $38,000. PNC Financial Services Group Inc. lifted its stake in REGENXBIO by 103.6% during the second quarter. PNC Financial Services Group Inc. now owns 1,963 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 999 shares during the last quarter. Finally, Point72 Middle East FZE purchased a new stake in REGENXBIO during the fourth quarter worth approximately $52,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Insider Buying and Selling at REGENXBIO

In other REGENXBIO news, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $18.19, for a total value of $272,850.00. Following the sale, the chief executive officer now owns 408,035 shares of the company’s stock, valued at $7,422,156.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $18.19, for a total value of $272,850.00. Following the sale, the chief executive officer now directly owns 408,035 shares in the company, valued at $7,422,156.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steve Pakola sold 12,878 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the sale, the insider now owns 107,192 shares in the company, valued at $3,039,965.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,878 shares of company stock valued at $1,217,370. Insiders own 13.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank of Canada upgraded REGENXBIO from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $20.00 to $35.00 in a research note on Friday, March 8th. Raymond James reiterated an “outperform” rating and issued a $45.00 price objective on shares of REGENXBIO in a research note on Wednesday, February 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price objective on shares of REGENXBIO in a research note on Friday, April 12th. SVB Leerink upgraded REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 price objective for the company in a research note on Wednesday, March 6th. Finally, Robert W. Baird boosted their price objective on REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.45.

REGENXBIO Stock Performance

REGENXBIO stock opened at $15.69 on Friday. The firm has a market capitalization of $769.44 million, a price-to-earnings ratio of -2.60 and a beta of 1.29. REGENXBIO Inc. has a fifty-two week low of $11.83 and a fifty-two week high of $28.80. The stock’s fifty day moving average is $20.02 and its two-hundred day moving average is $17.85.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.16). The firm had revenue of $22.30 million during the quarter, compared to analyst estimates of $34.01 million. REGENXBIO had a negative net margin of 291.99% and a negative return on equity of 68.18%. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same period last year, the company posted ($1.38) EPS. As a group, sell-side analysts forecast that REGENXBIO Inc. will post -3.98 EPS for the current fiscal year.

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.