REGENXBIO Inc. (NASDAQ:RGNX) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• REGENXBIO has a “Moderate Buy” consensus rating from 13 analysts: nine buys, three holds and one sell. The average 12-month price target is $23.27, well above the stock’s reported price of $9.66.
• The biotechnology company’s latest quarterly results exceeded expectations, with adjusted EPS of $0.43 versus the $0.08 consensus and revenue of $108.02 million versus estimates of $97.63 million. However, REGENXBIO continues to report deeply negative profitability metrics.
• Institutional investors own approximately 88.08% of the shares, while insiders own 14.22%; insiders have sold $718,232 worth of stock over the past three months.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) has earned an average rating of "Moderate Buy" from the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $23.2727.

Several equities analysts have commented on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of REGENXBIO in a research note on Monday, June 8th. Morgan Stanley restated an "overweight" rating and set a $18.00 price objective on shares of REGENXBIO in a research report on Friday, August 7th. Zacks Research upgraded shares of REGENXBIO from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Wall Street Zen raised shares of REGENXBIO from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Leerink Partners lifted their price target on shares of REGENXBIO from $17.00 to $18.00 and gave the stock an "outperform" rating in a research note on Monday, June 22nd.

REGENXBIO Stock Performance

NASDAQ:RGNX opened at $9.66 on Friday. The stock has a 50-day simple moving average of $11.07 and a 200-day simple moving average of $9.20. The stock has a market cap of $637.66 million, a P/E ratio of -2.55 and a beta of 0.94. REGENXBIO has a 1 year low of $5.45 and a 1 year high of $16.19.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.35. The business had revenue of $108.02 million for the quarter, compared to the consensus estimate of $97.63 million. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%. On average, equities research analysts predict that REGENXBIO will post -3.91 EPS for the current year.

Insider Transactions at REGENXBIO

In other REGENXBIO news, insider Steve Pakola sold 36,725 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $12.86, for a total value of $472,283.50. Following the completion of the transaction, the insider owned 213,009 shares in the company, valued at $2,739,295.74. This represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 58,494 shares of company stock valued at $718,232 in the last three months. Corporate insiders own 14.22% of the company's stock.

Institutional Trading of REGENXBIO

Institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in shares of REGENXBIO by 60.4% in the 2nd quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company's stock valued at $33,000 after purchasing an additional 1,032 shares during the period. Aquatic Capital Management LLC acquired a new position in REGENXBIO during the third quarter worth approximately $37,000. Quantbot Technologies LP acquired a new position in REGENXBIO during the second quarter worth approximately $51,000. Legal & General Group Plc purchased a new stake in REGENXBIO in the second quarter valued at approximately $56,000. Finally, California State Teachers Retirement System lifted its stake in REGENXBIO by 213.2% in the second quarter. California State Teachers Retirement System now owns 7,931 shares of the biotechnology company's stock valued at $95,000 after buying an additional 5,399 shares during the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

About REGENXBIO

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO's pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source