GIC Cuts REGENXBIO Stake to 8.0% as of Dec 31, 2023
Ticker: RGNX · Form: SC 13G/A · Filed: Feb 5, 2024 · CIK: 1590877
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, stake-reduction, biotech, investor-sentiment
TL;DR
**GIC trimmed its REGENXBIO stake to 8.0%, signaling a potential shift in their investment outlook.**
AI Summary
GIC Private Ltd, a Singaporean sovereign wealth fund, filed an amended SC 13G/A on February 5, 2024, disclosing its ownership in REGENXBIO Inc. As of December 31, 2023, GIC beneficially owned 3,677,936 shares of REGENXBIO's Common Stock, representing 8.0% of the company. This is a decrease from their previous filing, indicating GIC has reduced its stake, which could signal a less bullish outlook on REGENXBIO's future performance to current or prospective investors.
Why It Matters
A major institutional investor like GIC reducing its stake might suggest they see less upside potential, which could influence other investors' perceptions and the stock price.
Risk Assessment
Risk Level: medium — A large institutional investor reducing its holdings can sometimes precede a period of underperformance for the stock, posing a moderate risk to investors.
Analyst Insight
Investors should investigate the reasons behind GIC's reduced stake and consider if it aligns with their own investment thesis for REGENXBIO, potentially re-evaluating their position.
Key Numbers
- 3,677,936 — Shares Owned (The total number of REGENXBIO shares GIC beneficially owned as of December 31, 2023.)
- 8.0% — Ownership Percentage (The percentage of REGENXBIO's Common Stock beneficially owned by GIC, indicating a reduction from previous filings.)
Key Players & Entities
- GIC Private Ltd (company) — the reporting person, a Singaporean sovereign wealth fund
- REGENXBIO Inc. (company) — the issuer of the securities
- 3,677,936 (dollar_amount) — number of shares beneficially owned by GIC
- 8.0% (dollar_amount) — percentage of class beneficially owned by GIC
- December 31, 2023 (date) — date of the event requiring the filing
Forward-Looking Statements
- REGENXBIO's stock price may experience downward pressure or slower growth due to GIC's reduced stake. (REGENXBIO Inc.) — medium confidence, target: Q2 2024
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person is GIC Private Ltd, a company based in Singapore, as stated in the 'FILED BY' section of the filing.
What is the name of the issuer whose securities are being reported on?
The issuer is REGENXBIO Inc., as identified under 'SUBJECT COMPANY' and 'Name of Issuer' in the filing.
As of what date did the event requiring this filing occur?
The event which required the filing of this statement occurred on December 31, 2023, as specified under 'Date of the Event Which Requires Filing of this Statement'.
How many shares of REGENXBIO Inc. Common Stock does GIC Private Ltd beneficially own?
GIC Private Ltd beneficially owns 3,677,936 shares of REGENXBIO Inc. Common Stock, as detailed on page 2 of 5 under '1 NAMES OF REPORTING PERSONS'.
What percentage of REGENXBIO Inc.'s class of securities does GIC Private Ltd beneficially own?
GIC Private Ltd beneficially owns 8.0% of REGENXBIO Inc.'s Common Stock, as indicated on page 2 of 5 under '1 NAMES OF REPORTING PERSONS'.
Filing Stats: 1,003 words · 4 min read · ~3 pages · Grade level 14 · Accepted 2024-02-05 15:04:19
Key Financial Figures
- $0.0001 — O Inc. (Name of Issuer) Common Stock, $0.0001 par value per share (Title of Class of
Filing Documents
- ef20020646_sc13ga.htm (SC 13G/A) — 54KB
- 0001140361-24-005627.txt ( ) — 56KB
(a)
Item 1(a) Name of Issuer REGENXBIO Inc.
(b)
Item 1(b) Address of Issuer's Principal Executive Offices 9804 Medical Center Drive Rockville, MD 20850
(a)
Item 2(a) Name of Persons Filing GIC Private Limited ("GIC")
(b)
Item 2(b) Address of Principal Business Office or, if none, Residence 168 Robinson Road #37-01 Capital Tower Singapore 068912
(c)
Item 2(c) Citizenship Singapore
(d)
Item 2(d) Title of Class of Securities Common Stock, $0.0001 par value per share
(e)
Item 2(e) CUSIP Number 75901B107 I tem 3 If this statement is filed pursuant to 240.13d-1(b), or 13d-2(b) or (c), check whether the person filing is a: Not applicable. Item 4 (a - c) The aggregate number of securities and percentage of the class of securities of the Issuer beneficially owned by the Reporting Person named in Item 2(a), as well as the number of securities as to which such person is deemed to have sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, shared power to dispose or direct the disposition, is set forth in the following tables: Reporting Person No. of Securities Beneficially Owned Percent of Class (3) Voting Power Dispositive Power Sole (1), (2) Shared (1), (2) Sole (1), (2) Shared (1), (2) GIC Private Limited 1,042,011 2.37 764,952 277,059 764,952 277,059 (1) GIC is a fund manager and only has 2 clients – the Government of Singapore ("GoS") and the Monetary Authority of Singapore ("MAS"). Under the investment management agreement with GoS, GIC has been given the sole discretion to exercise the voting rights attached to, and the disposition of, any shares managed on behalf of GoS. As such, GIC has the sole power to vote and power to dispose of the 764,952 securities beneficially owned by it. GIC shares power to vote and dispose of 277,059 securities beneficially owned by it with MAS. GIC is wholly-owned by the GoS and was set up with the sole purpose of managing Singapore's foreign reserves. The GoS disclaims beneficial ownership of such shares. (2) GIC disclaims membership in a group. (3) Based on 43,991,980 Common Stock outstanding as of November 2, 2023, according to the Form 10-Q filed by the Issuer with the Securities and Exchange Commission on November 8, 2023. SCHEDULE 13G CUSIP No. 75901B107 Page 4 of 5 Pages Item 5 If this statement is being filed to re