First Trust Advisors LP Buys Shares of 98,846 REGENXBIO Inc. (NASDAQ:RGNX)

Posted by on Jun 3rd, 2023

First Trust Advisors LP bought a new stake in REGENXBIO Inc. (NASDAQ:RGNX – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 98,846 shares of the biotechnology company’s stock, valued at approximately $2,242,000. First Trust Advisors LP owned 0.23% of REGENXBIO as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Texas Permanent School Fund raised its stake in shares of REGENXBIO by 1.8% during the 4th quarter. Texas Permanent School Fund now owns 27,545 shares of the biotechnology company’s stock worth $625,000 after buying an additional 493 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of REGENXBIO by 5.2% during the 3rd quarter. Lazard Asset Management LLC now owns 10,251 shares of the biotechnology company’s stock worth $270,000 after buying an additional 505 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of REGENXBIO by 2.0% during the 4th quarter. SummerHaven Investment Management LLC now owns 26,655 shares of the biotechnology company’s stock worth $605,000 after buying an additional 519 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of REGENXBIO by 8.3% during the 4th quarter. ProShare Advisors LLC now owns 9,847 shares of the biotechnology company’s stock worth $223,000 after buying an additional 758 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of REGENXBIO by 10.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 8,483 shares of the biotechnology company’s stock worth $282,000 after buying an additional 804 shares during the last quarter. Institutional investors and hedge funds own 80.21% of the company’s stock.

Analyst Upgrades and Downgrades

RGNX has been the subject of several analyst reports. StockNews.com initiated coverage on shares of REGENXBIO in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Robert W. Baird initiated coverage on shares of REGENXBIO in a research note on Thursday. They issued an “outperform” rating and a $42.00 target price for the company. Morgan Stanley cut their target price on shares of REGENXBIO from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, March 6th. Finally, Chardan Capital cut their target price on shares of REGENXBIO from $61.00 to $55.00 in a research note on Thursday, May 4th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.25.

REGENXBIO Stock Up 6.3 %

Shares of RGNX opened at $19.72 on Friday. The business’s 50 day moving average is $19.00 and its two-hundred day moving average is $21.29. REGENXBIO Inc. has a 52-week low of $17.02 and a 52-week high of $35.73. The firm has a market cap of $857.23 million, a price-to-earnings ratio of -3.16 and a beta of 1.04.

REGENXBIO (NASDAQ:RGNX – Get Rating) last announced its earnings results on Wednesday, May 3rd. The biotechnology company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). REGENXBIO had a negative net margin of 246.50% and a negative return on equity of 49.69%. The business had revenue of $19.10 million during the quarter, compared to analyst estimates of $31.29 million. During the same period in the previous year, the company earned ($1.62) earnings per share. The business’s revenue for the quarter was down 14.0% on a year-over-year basis. On average, equities analysts expect that REGENXBIO Inc. will post -4.31 earnings per share for the current fiscal year.

About REGENXBIO

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REGENXBIO, Inc is a clinical-stage biotechnology company, which engages in the development, commercialization, and licensing of recombinant adeno-associated virus gene therapy. Its product candidates include the NAV Technology Platform, which consists of exclusive rights to novel adeno-associated viral vectors, and therapeutic programs such as RGX-314, RGX-202, RGX-121, RGX-111, RGX-181, and RGX-381.

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Institutional Ownership by Quarter for REGENXBIO (NASDAQ:RGNX)

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