Amalgamated Bank Increases Stock Position in REGENXBIO Inc. (NASDAQ:RGNX)

Amalgamated Bank grew its position in shares of REGENXBIO Inc. (NASDAQ:RGNX) by 9.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,613 shares of the biotechnology company’s stock after purchasing an additional 1,227 shares during the quarter. Amalgamated Bank’s holdings in REGENXBIO were worth $159,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in RGNX. PNC Financial Services Group Inc. increased its holdings in shares of REGENXBIO by 73.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 746 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in REGENXBIO in the first quarter valued at $56,000. Headlands Technologies LLC raised its holdings in shares of REGENXBIO by 276.8% in the first quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock valued at $81,000 after buying an additional 2,812 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of REGENXBIO by 67.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 8,519 shares of the biotechnology company’s stock worth $179,000 after buying an additional 3,426 shares during the period. Finally, Diversified Trust Co purchased a new position in shares of REGENXBIO during the second quarter worth about $121,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Price Performance

Shares of NASDAQ RGNX opened at $10.21 on Wednesday. The firm’s 50-day moving average is $12.27 and its two-hundred day moving average is $14.45. The company has a market capitalization of $502.90 million, a PE ratio of -1.74 and a beta of 1.22. REGENXBIO Inc. has a 12-month low of $9.93 and a 12-month high of $28.80.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) EPS for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.24. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. The firm had revenue of $22.30 million for the quarter, compared to analysts’ expectations of $22.97 million. During the same quarter in the prior year, the firm earned ($1.66) EPS. REGENXBIO’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts forecast that REGENXBIO Inc. will post -4.66 EPS for the current fiscal year.

Insider Buying and Selling

In other REGENXBIO news, Director Kenneth T. Mills sold 12,221 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $13.78, for a total transaction of $168,405.38. Following the sale, the director now directly owns 408,035 shares of the company’s stock, valued at approximately $5,622,722.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Argeris N. Karabelas sold 11,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.04, for a total value of $165,440.00. Following the completion of the transaction, the director now directly owns 11,286 shares in the company, valued at $169,741.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth T. Mills sold 12,221 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $13.78, for a total value of $168,405.38. Following the completion of the sale, the director now directly owns 408,035 shares in the company, valued at $5,622,722.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,279 shares of company stock worth $762,934. 13.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $39.00 price objective on shares of REGENXBIO in a research note on Wednesday, September 4th. Barclays cut their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Finally, The Goldman Sachs Group initiated coverage on REGENXBIO in a report on Friday, June 7th. They issued a “buy” rating and a $38.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, REGENXBIO presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.91.

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.