Mirae Asset Global Investments Co. Ltd. Trims Stock Position in REGENXBIO Inc. (NASDAQ:RGNX)

Mirae Asset Global Investments Co. Ltd. cut its position in shares of REGENXBIO Inc. (NASDAQ:RGNXGet Rating) by 15.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,946 shares of the biotechnology company’s stock after selling 21,465 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.27% of REGENXBIO worth $3,848,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RGNX. Baillie Gifford & Co. purchased a new position in REGENXBIO during the first quarter worth about $25,000. Captrust Financial Advisors raised its stake in REGENXBIO by 742.1% during the first quarter. Captrust Financial Advisors now owns 960 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 846 shares during the period. Point72 Hong Kong Ltd purchased a new position in REGENXBIO during the fourth quarter worth about $42,000. Nkcfo LLC purchased a new position in REGENXBIO during the first quarter worth about $116,000. Finally, KBC Group NV raised its stake in REGENXBIO by 168.0% during the first quarter. KBC Group NV now owns 3,621 shares of the biotechnology company’s stock worth $120,000 after purchasing an additional 2,270 shares during the period. 83.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RGNX. UBS Group dropped their price target on shares of REGENXBIO from $51.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. Wedbush reiterated a “hold” rating and set a $29.00 price target on shares of REGENXBIO in a research report on Monday, July 11th. TheStreet upgraded shares of REGENXBIO from a “d+” rating to a “c” rating in a research report on Friday, August 12th. Morgan Stanley lifted their price target on shares of REGENXBIO from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, September 9th. Finally, Berenberg Bank started coverage on shares of REGENXBIO in a research report on Thursday, June 23rd. They set a “buy” rating and a $61.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.86.

REGENXBIO Stock Down 2.8 %

NASDAQ RGNX opened at $22.86 on Friday. REGENXBIO Inc. has a 52 week low of $18.69 and a 52 week high of $44.40. The stock has a market capitalization of $988.24 million, a PE ratio of 11.84 and a beta of 1.09. The firm has a 50 day moving average of $30.45 and a two-hundred day moving average of $27.75.

REGENXBIO (NASDAQ:RGNXGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.44) by ($0.14). REGENXBIO had a return on equity of 15.40% and a net margin of 18.73%. The firm had revenue of $32.65 million for the quarter, compared to analyst estimates of $26.00 million. On average, equities research analysts expect that REGENXBIO Inc. will post -5.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other REGENXBIO news, CFO Vittal Vasista sold 2,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $30.24, for a total transaction of $72,576.00. Following the completion of the transaction, the chief financial officer now owns 135,160 shares in the company, valued at approximately $4,087,238.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 9,132 shares of company stock worth $277,579 in the last 90 days. Corporate insiders own 12.70% of the company’s stock.

REGENXBIO Company Profile

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REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform.

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