Bank of America Corp DE Reduces Stock Holdings in REGENXBIO Inc. (NASDAQ:RGNX)

Bank of America Corp DE lowered its position in REGENXBIO Inc. (NASDAQ:RGNX) by 37.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 281,204 shares of the biotechnology company’s stock after selling 164,980 shares during the quarter. Bank of America Corp DE owned 0.57% of REGENXBIO worth $2,174,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RGNX. KLP Kapitalforvaltning AS purchased a new position in shares of REGENXBIO in the fourth quarter valued at $54,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of REGENXBIO during the fourth quarter valued at $79,000. Teacher Retirement System of Texas increased its position in REGENXBIO by 19.9% during the 4th quarter. Teacher Retirement System of Texas now owns 12,590 shares of the biotechnology company’s stock worth $97,000 after purchasing an additional 2,088 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in REGENXBIO during the 4th quarter worth about $97,000. Finally, Tower Research Capital LLC TRC increased its position in REGENXBIO by 442.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,138 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 10,714 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RGNX shares. Chardan Capital reiterated a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research report on Thursday, March 20th. Raymond James started coverage on REGENXBIO in a research report on Friday, February 7th. They set an “outperform” rating and a $27.00 price objective for the company. Morgan Stanley lifted their price objective on REGENXBIO from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Wall Street Zen upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, HC Wainwright dropped their price objective on REGENXBIO from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, REGENXBIO currently has an average rating of “Moderate Buy” and an average target price of $31.63.

REGENXBIO Trading Up 16.9%

Shares of NASDAQ:RGNX opened at $10.35 on Tuesday. The stock’s 50-day moving average price is $7.93 and its two-hundred day moving average price is $7.92. REGENXBIO Inc. has a 12-month low of $5.04 and a 12-month high of $15.36. The firm has a market cap of $519.16 million, a price-to-earnings ratio of -2.06 and a beta of 1.11.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Monday, May 12th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.29). REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. The business had revenue of $89.01 million during the quarter, compared to analyst estimates of $105.35 million. As a group, research analysts forecast that REGENXBIO Inc. will post -4.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kenneth T. Mills sold 20,602 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $7.91, for a total value of $162,961.82. Following the transaction, the director now directly owns 475,103 shares in the company, valued at $3,758,064.73. This trade represents a 4.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.79% of the stock is owned by corporate insiders.

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.