Mirae Asset Global Investments Co. Ltd. Reduces Holdings in REGENXBIO Inc. (NASDAQ:RGNX)

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of REGENXBIO Inc. (NASDAQ:RGNX) by 54.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,418 shares of the biotechnology company’s stock after selling 113,889 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.21% of REGENXBIO worth $1,695,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of RGNX. BlackRock Inc. boosted its stake in REGENXBIO by 20.3% during the first quarter. BlackRock Inc. now owns 8,040,790 shares of the biotechnology company’s stock worth $152,051,000 after buying an additional 1,354,440 shares during the period. Redmile Group LLC boosted its stake 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. Goldman Sachs Group Inc. boosted its stake in REGENXBIO by 320.0% during the second quarter. Goldman Sachs Group Inc. now owns 500,125 shares of the biotechnology company’s stock worth $12,353,000 after buying an additional 381,047 shares during the period. Balyasny Asset Management L.P. boosted its stake in REGENXBIO by 43,004.2% during the first quarter. Balyasny Asset Management L.P. now owns 376,300 shares of the biotechnology company’s stock worth $7,116,000 after buying an additional 375,427 shares during the period. Finally, Norges Bank purchased a new position in REGENXBIO during the fourth quarter worth $7,408,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other REGENXBIO news, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total value of $251,400.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at $6,838,666.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Steve Pakola sold 12,878 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total transaction of $365,220.08. Following the sale, the insider now owns 107,192 shares in the company, valued at $3,039,965.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total value of $251,400.00. Following the sale, the chief executive officer now owns 408,035 shares in the company, valued at approximately $6,838,666.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,878 shares of company stock worth $1,217,370. 13.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RGNX shares. Royal Bank of Canada raised shares of REGENXBIO from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $20.00 to $35.00 in a research note on Friday, March 8th. Stifel Nicolaus reissued a “buy” rating and set a $40.00 target price on shares of REGENXBIO in a research note on Friday, April 12th. Raymond James reissued an “outperform” rating and set a $45.00 target price on shares of REGENXBIO in a research note on Wednesday, February 21st. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Finally, Robert W. Baird boosted their target price on shares of REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, REGENXBIO presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.45.

REGENXBIO Price Performance

RGNX stock opened at $15.69 on Friday. The company has a market capitalization of $769.44 million, a P/E ratio of -2.60 and a beta of 1.29. The business has a 50-day moving average price of $20.02 and a 200 day moving average price of $17.85. REGENXBIO Inc. has a 1-year low of $11.83 and a 1-year high of $28.80.

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

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.