Barclays Cuts 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 - Get Free Report) had its price objective lowered by Barclays from $50.00 to $37.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. Barclays's price objective would indicate a potential upside of 367.17% from the stock's current price.

A number of other equities analysts also recently weighed in on the company. The Goldman Sachs Group reduced their price target on REGENXBIO from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Chardan Capital reissued a "buy" rating and issued a $52.00 price objective on shares of REGENXBIO in a report on Friday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $30.00.

REGENXBIO Price Performance

Shares of REGENXBIO stock traded up $0.02 during midday trading on Friday, hitting $7.92. The company had a trading volume of 147,652 shares, compared to its average volume of 977,490. REGENXBIO has a 1-year low of $5.03 and a 1-year high of $13.48. The business's 50 day simple moving average is $8.80 and its two-hundred day simple moving average is $8.03. The stock has a market cap of $397.27 million, a PE ratio of -2.54 and a beta of 1.11.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.13) by ($0.25). The business had revenue of $21.36 million during the quarter, compared to the consensus estimate of $40.87 million. REGENXBIO had a negative net margin of 100.62% and a negative return on equity of 53.29%. On average, sell-side analysts expect that REGENXBIO will post -4.84 EPS for the current fiscal year.

Insider Activity at REGENXBIO

In related news, Director Kenneth T. Mills sold 20,602 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $7.91, for a total value of $162,961.82. Following the transaction, the director owned 475,103 shares in the company, valued at approximately $3,758,064.73. This trade represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.79% of the company's stock.

Institutional Trading of REGENXBIO

Several large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of REGENXBIO by 1.9% during the second quarter. Geode Capital Management LLC now owns 1,128,521 shares of the biotechnology company's stock valued at $9,267,000 after purchasing an additional 21,575 shares in the last quarter. Profund Advisors LLC acquired a new stake in shares of REGENXBIO during the second quarter valued at about $106,000. Los Angeles Capital Management LLC acquired a new stake in shares of REGENXBIO during the second quarter valued at about $1,030,000. Savant Capital LLC acquired a new stake in shares of REGENXBIO during the second quarter valued at about $226,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of REGENXBIO during the second quarter valued at about $1,453,000. 88.08% of the stock is owned by institutional investors and hedge funds.

REGENXBIO Company Profile

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.

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