In the 2nd quarter of this year, Harbor Capital Advisors Inc. significantly increased its stake in REGENXBIO Inc., a clinical-stage biotechnology company traded on the NASDAQ under the ticker symbol RGNX. According to their most recent 13F filing with the Securities & Exchange Commission, Harbor Capital Advisors now owns 44,106 shares of REGENXBIO’s stock, an 81.7% boost from the previous period.
With an additional acquisition of 19,830 shares during this quarter, Harbor Capital Advisors’ ownership now amounts to approximately 0.10% of REGENXBIO’s outstanding shares. Based on the most recent SEC disclosure, its stake in REGENXBIO is valued at $882,000.
REGENXBIO specializes in developing gene therapy product candidates that aim to deliver genes to cells in order to address genetic defects or enable cells within the body to produce therapeutic proteins or antibodies. The company’s innovative gene therapy product candidates are built upon their proprietary NAV Technology Platform, which utilizes adeno-associated virus gene delivery technology.
This increase in stake by Harbor Capital Advisors signals their confidence in REGENXBIO’s potential and prospects for growth. As a clinical-stage biotechnology company, REGENXBIO is committed to advancing scientific research and development efforts towards finding effective treatments for various diseases through gene therapy. This progressive approach holds much promise for patients and medical professionals who seek alternative therapeutic avenues.
Investors and analysts alike will be closely monitoring REGENXBIO’s progress as they continue to develop their novel gene therapy candidates using NAV Technology Platform. The potential impact of these therapies could revolutionize medical treatment options for individuals affected by genetic defects or diseases that require therapeutic proteins or antibodies.
As of September 19th, 2023, interested parties can access our latest report on REGENXBIO for a more comprehensive analysis of the company and its advancements within the field of gene therapy. This report aims to provide valuable insights for those seeking to understand the potential investment opportunities in this rapidly evolving sector of the biotechnology industry.
Mettler-Toledo International Inc.
MTD
Strong Buy
Updated on: 19/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Buy
Institutional Investors’ Interest in REGENXBIO (RGNX) Varies as Some Increase Stakes and Others Decrease
Institutional investors have shown varying levels of interest in REGENXBIO (RGNX) recently, with some increasing their stakes while others have decreased them. Captrust Financial Advisors notably increased its position in the biotechnology company by an impressive 742.1% during the first quarter. This resulted in Captrust Financial Advisors now owning 960 shares of RGNX stock valued at $32,000 after acquiring an additional 846 shares during that period.
Royal Bank of Canada also saw fit to increase its position in REGENXBIO by a significant 189.8% during the third quarter, now owning 1,397 shares of the company’s stock worth $37,000 after purchasing an additional 915 shares. Furthermore, Northwestern Mutual Wealth Management Co. acquired a new position in RGNX during the fourth quarter valued at approximately $38,000.
Meanwhile, Robeco Institutional Asset Management B.V. made its move during the first quarter by acquiring a new position in the biotech company valued at approximately $48,000. Lastly, Point72 Middle East FZE followed suit during the fourth quarter and acquired a new position in REGENXBIO for around $52,000.
It is worth noting that institutional investors and hedge funds presently hold a staggering 88.80% of REGENXBIO’s stock.
Turning our attention to analyst reports surrounding RGNX, there have been several recent assessments that shed light on the company’s performance and prospects. Chardan Capital reiterated their “buy” rating on REGENXBIO’s stock while setting a target price of $55.00 per share in a research report released on August 3rd.
Morgan Stanley took a slightly different approach by lowering their target price from $43.00 to $42.00 but maintained their “overweight” rating on RGNX’s stock as they assessed its performance in their research report issued on August 29th.
Robert W. Baird initiated their coverage of REGENXBIO in a positive light by giving it an “outperform” rating along with a $42.00 target price in their research report on June 1st. Lastly, StockNews.com weighed in on the stock by rating it as a “hold” in their research note published on August 17th.
Overall, three analysts have leaned towards holding RGNX’s stock, while three others see it as a buy. According to Bloomberg data, the consensus rating for REGENXBIO is presently characterized as “Moderate Buy,” and the average price target stands at $35.00.
On September 19, 2023, RGNX opened at $17.81 per share on Tuesday. The one-year low for REGENXBIO Inc. currently stands at $16.93, while its one-year high reached $27.20.
Analyzing RGNX’s last quarterly earnings data released on August 2nd shows that the biotechnology company reported an EPS of ($1.66) for the quarter, falling short of analysts’ consensus estimates of ($1.26), resulting in a negative surprise of ($0.40). Furthermore, the firm generated $19.98 million in revenue during the quarter, significantly lower than analyst expectations set at $34.50 million.
REGENXBIO had a negative return on equity of 56.21% and a negative net margin of 282.72%. Comparing this quarter to the same period last year reveals that the company experienced a decline of 38.8% in its quarterly revenue.
While RGNX’s performance may appear concerning to some investors due to its negative figures and missed estimates, analysts are projecting that REGENXBIO Inc.’s earnings per share for the current fiscal year will stand at -5.01.
As always with investments, it is crucial for investors to conduct their due diligence and consider various factors before making any decisions. This article provides an overview of recent developments surrounding REGENXBIO Inc., but opinions may differ depending on individual risk tolerance and investment strategies.
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