Principal Financial Group Inc. Trims Stake in REGENXBIO Inc. (NASDAQ:RGNX)

Principal Financial Group Inc. lessened its stake in REGENXBIO Inc. (NASDAQ:RGNXFree Report) by 8.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 216,211 shares of the biotechnology company’s stock after selling 19,812 shares during the period. Principal Financial Group Inc. owned 0.44% of REGENXBIO worth $4,556,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in REGENXBIO by 73.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after buying an additional 746 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in REGENXBIO in the 1st quarter worth about $56,000. Annandale Capital LLC purchased a new position in REGENXBIO in the 3rd quarter worth about $60,000. China Universal Asset Management Co. Ltd. increased its stake in REGENXBIO by 352.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,093 shares of the biotechnology company’s stock worth $91,000 after buying an additional 3,968 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new position in REGENXBIO in the 4th quarter worth about $363,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Insider Buying and Selling

In related news, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $11.27, for a total value of $112,700.00. Following the completion of the sale, the director now directly owns 11,286 shares in the company, valued at approximately $127,193.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other REGENXBIO news, CEO Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $18.19, for a total transaction of $272,850.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at approximately $7,422,156.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $11.27, for a total transaction of $112,700.00. Following the transaction, the director now directly owns 11,286 shares of the company’s stock, valued at $127,193.22. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $622,700 in the last three months. Corporate insiders own 13.13% of the company’s stock.

REGENXBIO Stock Performance

NASDAQ:RGNX opened at $10.90 on Friday. REGENXBIO Inc. has a fifty-two week low of $10.50 and a fifty-two week high of $28.80. The stock has a market capitalization of $536.93 million, a P/E ratio of -1.85 and a beta of 1.26. The company’s 50-day simple moving average is $14.07 and its 200-day simple moving average is $16.58.

REGENXBIO (NASDAQ:RGNXGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.10). The firm had revenue of $15.60 million during the quarter, compared to the consensus estimate of $23.52 million. REGENXBIO had a negative net margin of 299.96% and a negative return on equity of 70.72%. The firm’s quarterly revenue was down 18.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.53) earnings per share. On average, research analysts forecast that REGENXBIO Inc. will post -4.37 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of REGENXBIO in a research report on Thursday, June 20th. Stifel Nicolaus reissued a “buy” rating and set a $40.00 target price on shares of REGENXBIO in a research report on Friday, April 12th. The Goldman Sachs Group started coverage on shares of REGENXBIO in a research report on Friday, June 7th. They set a “buy” rating and a $38.00 target price on the stock. Finally, Royal Bank of Canada raised shares of REGENXBIO from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $20.00 to $35.00 in a research report on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, REGENXBIO has an average rating of “Moderate Buy” and a consensus target price of $38.58.

Read Our Latest Stock Report on RGNX

About REGENXBIO

(Free Report)

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.

See Also

Institutional Ownership by Quarter for REGENXBIO (NASDAQ:RGNX)

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