REGENXBIO (NASDAQ:RGNX) Receives "Buy" Rating from HC Wainwright

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

HC Wainwright reaffirmed their buy rating on shares of REGENXBIO (NASDAQ:RGNX - Free Report) in a research note released on Tuesday,Benzinga reports. They currently have a $34.00 price target on the biotechnology company's stock.

Several other analysts also recently commented on RGNX. Royal Bank Of Canada cut their target price on REGENXBIO from $21.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Chardan Capital reaffirmed a "buy" rating and set a $52.00 price objective on shares of REGENXBIO in a research report on Friday, August 8th. Wall Street Zen downgraded REGENXBIO from a "hold" rating to a "strong sell" rating in a report on Saturday, August 9th. Finally, Barclays lowered their target price on shares of REGENXBIO from $50.00 to $37.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $28.38.

REGENXBIO Stock Up 0.5%

REGENXBIO stock traded up $0.04 during trading hours on Tuesday, hitting $8.11. The stock had a trading volume of 387,766 shares, compared to its average volume of 689,079. The stock's 50-day moving average price is $8.53 and its 200-day moving average price is $8.07. The stock has a market capitalization of $409.64 million, a P/E ratio of -2.36 and a beta of 1.11. REGENXBIO has a 12-month low of $5.03 and a 12-month high of $13.48.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted 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). The firm had revenue of $21.36 million for the quarter, compared to analysts' expectations of $40.87 million. REGENXBIO had a negative net margin of 112.70% and a negative return on equity of 66.95%. On average, research analysts expect that REGENXBIO will post -4.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC lifted its position in shares of REGENXBIO by 406.3% during the 4th quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company's stock valued at $10,222,000 after buying an additional 1,061,187 shares in the last quarter. 22NW LP purchased a new position in shares of REGENXBIO during the 1st quarter valued at $4,781,000. AQR Capital Management LLC boosted its stake in shares of REGENXBIO by 2,247.7% in the first quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company's stock worth $4,437,000 after acquiring an additional 594,161 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in REGENXBIO during the 4th quarter valued at approximately $3,865,000. Finally, Vanguard Group Inc. increased its holdings in shares of REGENXBIO by 16.3% in the first quarter. Vanguard Group Inc. now owns 3,472,988 shares of the biotechnology company's stock worth $24,832,000 after purchasing an additional 487,036 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company's stock.

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.