Barclays Lowers REGENXBIO (NASDAQ:RGNX) Price Target to $37.00

Key Points

• Barclays has reduced its price target for REGENXBIO from $50.00 to $37.00, maintaining an "overweight" rating, suggesting a potential upside of 367.17% from the current stock price.
• REGENXBIO reported a quarterly earnings loss of ($1.38) EPS, missing projections, with revenues of only $21.36 million compared to expectations of $40.87 million.
• Analyst ratings show a mix of sentiment with two analysts rating the stock as "hold" and five as "buy", reflecting an average rating of "Moderate Buy" with an average target price of $30.00.

REGENXBIO (NASDAQ:RGNX - Free Report) had its target price decreased by Barclays from $50.00 to $37.00 in a research note published on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the biotechnology company's stock.

A number of other research analysts also recently commented on RGNX. The Goldman Sachs Group lowered their price target on shares of REGENXBIO from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Chardan Capital reissued a "buy" rating and issued a $52.00 price objective on shares of REGENXBIO in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, REGENXBIO presently has a consensus rating of "Moderate Buy" and an average price target of $28.38.

REGENXBIO Trading Up 8.6%

Shares of NASDAQ:RGNX traded up $0.64 during trading on Friday, reaching $8.10. The company's stock had a trading volume of 908,325 shares, compared to its average volume of 978,292. REGENXBIO has a 12 month low of $5.03 and a 12 month high of $13.48. The firm's 50 day simple moving average is $8.73 and its two-hundred day simple moving average is $8.03. The stock has a market capitalization of $409.13 million, a PE ratio of -2.35 and a beta of 1.11.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts' consensus estimates of ($1.13) by ($0.25). REGENXBIO had a negative net margin of 112.70% and a negative return on equity of 66.95%. The business had revenue of $21.36 million during the quarter, compared to the consensus estimate of $40.87 million. Research analysts anticipate that REGENXBIO will post -4.84 EPS for the current fiscal year.

Hedge Funds Weigh In On REGENXBIO

A number of institutional investors have recently modified their holdings of RGNX. FNY Investment Advisers LLC purchased a new position in REGENXBIO during the first quarter valued at approximately $35,000. Brooklyn Investment Group grew its holdings in REGENXBIO by 163.7% in the first quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 3,466 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of REGENXBIO by 754.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company's stock valued at $46,000 after buying an additional 5,000 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of REGENXBIO during the fourth quarter valued at $54,000. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of REGENXBIO during the first quarter valued at $74,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

About REGENXBIO

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company's products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.