Raymond James & Associates Trims Stock Holdings in REGENXBIO Inc. (NASDAQ:RGNX)

Raymond James & Associates reduced its stake in REGENXBIO Inc. (NASDAQ:RGNX) by 49.8% during the 4th quarter, Holdings Channel reports. The fund owned 50,537 shares of the biotechnology company’s stock after selling 50,083 shares during the period. Raymond James & Associates’ holdings in REGENXBIO were worth $907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RGNX. Redmile Group LLC lifted its position in REGENXBIO by 27.0% during the third quarter. Redmile Group LLC now owns 2,574,042 shares of the biotechnology company’s stock worth $42,369,000 after buying an additional 547,466 shares during the period. Trexquant Investment LP lifted its position in REGENXBIO by 552.3% during the third quarter. Trexquant Investment LP now owns 85,913 shares of the biotechnology company’s stock worth $1,414,000 after buying an additional 72,742 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in REGENXBIO by 77.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 114,962 shares of the biotechnology company’s stock worth $1,892,000 after buying an additional 50,056 shares during the period. Vanguard Group Inc. lifted its position in REGENXBIO by 0.8% during the third quarter. Vanguard Group Inc. now owns 4,376,573 shares of the biotechnology company’s stock worth $72,038,000 after buying an additional 36,531 shares during the period. Finally, SG Americas Securities LLC purchased a new position in REGENXBIO during the fourth quarter worth about $553,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Robert W. Baird increased their target price on REGENXBIO from $34.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. SVB Leerink upgraded REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 target price on the stock in a research report on Wednesday, March 6th. Stifel Nicolaus restated a “buy” rating and set a $40.00 price target on shares of REGENXBIO in a research note on Friday, April 12th. Raymond James restated an “outperform” rating and set a $45.00 price target on shares of REGENXBIO in a research note on Wednesday, February 21st. Finally, Chardan Capital restated a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a research note on Thursday, March 7th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.45.

Insider Activity

In other news, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $18.19, for a total value of $272,850.00. Following the completion of the sale, the chief executive officer now owns 408,035 shares in the company, valued at $7,422,156.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $18.19, for a total value of $272,850.00. Following the completion of the transaction, the chief executive officer now owns 408,035 shares of the company’s stock, valued at $7,422,156.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steve Pakola sold 12,878 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 107,192 shares of the company’s stock, valued at approximately $3,039,965.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,878 shares of company stock worth $1,217,370. 13.13% of the stock is currently owned by corporate insiders.

REGENXBIO Stock Performance

RGNX stock opened at $15.64 on Tuesday. REGENXBIO Inc. has a 1 year low of $11.83 and a 1 year high of $28.80. The firm has a market cap of $766.99 million, a P/E ratio of -2.59 and a beta of 1.29. The stock has a 50-day simple moving average of $19.99 and a 200-day simple moving average of $17.87.

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

REGENXBIO Profile

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.