Assenagon Asset Management S.A. Sells 283,399 Shares of REGENXBIO Inc. (NASDAQ:RGNX)

Assenagon Asset Management S.A. reduced its stake in REGENXBIO Inc. (NASDAQ:RGNX) by 33.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 573,173 shares of the biotechnology company’s stock after selling 283,399 shares during the period. Assenagon Asset Management S.A. owned approximately 1.14% of REGENXBIO worth $4,098,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of RGNX. KLP Kapitalforvaltning AS bought a new stake in shares of REGENXBIO in the 4th quarter valued at approximately $54,000. Pallas Capital Advisors LLC bought a new stake in shares of REGENXBIO in the 1st quarter valued at approximately $74,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of REGENXBIO in the 4th quarter valued at approximately $79,000. Laurion Capital Management LP bought a new stake in shares of REGENXBIO in the 4th quarter valued at approximately $79,000. Finally, Teacher Retirement System of Texas grew its stake in shares of REGENXBIO by 19.9% in the 4th quarter. Teacher Retirement System of Texas now owns 12,590 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 2,088 shares during the period. 88.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Leerink Partners set a $24.00 price objective on REGENXBIO in a research note on Tuesday, March 18th. The Goldman Sachs Group decreased their price target on REGENXBIO from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Wall Street Zen upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Morgan Stanley increased their price target on REGENXBIO from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, HC Wainwright decreased their price target on REGENXBIO from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, REGENXBIO has an average rating of “Moderate Buy” and an average target price of $31.63.

REGENXBIO Stock Performance

Shares of RGNX opened at $9.27 on Monday. The firm has a market capitalization of $464.98 million, a price-to-earnings ratio of -1.84 and a beta of 1.09. The business’s fifty day moving average price is $8.45 and its two-hundred day moving average price is $7.92. REGENXBIO Inc. has a 52 week low of $5.04 and a 52 week high of $15.36.

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

Insider Buying and Selling at REGENXBIO

In other REGENXBIO news, Director Kenneth T. Mills sold 20,602 shares of the stock in a transaction on 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 approximately $3,758,064.73. This trade represents a 4.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.79% of the company’s stock.

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.