REGENXBIO Inc. (NASDAQ:RGNX) CEO Kenneth Mills has recently sold shares of the company's stock, according to the latest SEC filings. On March 14, Mills sold 15,000 shares at prices ranging from $21.60 to $22.31, with the weighted average sale price being $21.8628 per share. The total value of the shares sold amounted to approximately $327,942.
In addition to the sale, the filing also indicated that Mills exercised options to acquire the same number of shares, 15,000, at a price of $3.76 per share, which totals $56,400. This transaction was executed under a prearranged 10b5-1 trading plan, which allows insiders to set up a predetermined plan to buy or sell company stock at a time when they are not in possession of material non-public information.
The CEO's recent transactions have resulted in a change in his holdings of REGENXBIO stock. Following the sale, Mills now owns 408,035 shares of the company's common stock directly. It is worth noting that the options exercised by Mills are set to expire on May 19, 2025, and were part of a grant that allowed for a portion of the options to vest back in May 2016, with the remainder vesting monthly over the following 36 months.
Investors often monitor insider transactions as they can provide insights into the executive's confidence in the company's future prospects. The sales and acquisitions by Mills are part of the regular financial activities insiders engage in, and are disclosed to the public in compliance with SEC regulations.
REGENXBIO, headquartered in Rockville, Maryland, operates in the biotechnology sector, focusing on the development of gene therapy products. The company's stock performance and insider transactions are closely watched by investors interested in the biotech industry.
InvestingPro Insights
REGENXBIO Inc. (NASDAQ:RGNX) has been under the investor microscope following CEO Kenneth Mills' recent stock transactions. As stakeholders parse through the implications of such insider activity, it's crucial to consider the financial health and market performance of the company. According to InvestingPro data, REGENXBIO currently holds a market capitalization of $1.09 billion USD. Despite a challenging financial landscape with a negative P/E ratio of -3.74 and adjusted P/E ratio for the last twelve months as of Q4 2023 at -4.2, the company's stock has experienced a strong return over the last month, appreciating by 17.84%.
Two noteworthy InvestingPro Tips for REGENXBIO include the fact that three analysts have revised their earnings upwards for the upcoming period, suggesting a potential upside in the stock's future. On the balance sheet side, the company's liquid assets exceed its short-term obligations, indicating a stable financial position in the immediate term. However, analysts do not anticipate the company will be profitable this year, and the company is quickly burning through cash, with weak gross profit margins reported at -195.29% for the last twelve months as of Q4 2023.
For investors seeking a deeper analysis, InvestingPro offers a comprehensive list of additional tips, with a total of 9 insights available for REGENXBIO. These insights can be accessed through the dedicated InvestingPro platform at https://www.investing.com/pro/RGNX. To enhance your investment strategy, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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