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

Shares of REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twelve analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $38.45.

RGNX has been the topic of a number of recent analyst reports. Leerink Partnrs upgraded REGENXBIO from a "market perform" rating to an "outperform" rating in a report on Wednesday, March 6th. Stifel Nicolaus reiterated a "buy" rating and issued a $40.00 price objective on shares of REGENXBIO in a report on Friday, April 12th. Wedbush reiterated a "neutral" rating and issued a $21.00 price objective on shares of REGENXBIO in a report on Wednesday, February 28th. HC Wainwright reiterated a "buy" rating and issued a $36.00 price objective on shares of REGENXBIO in a report on Monday, March 11th. Finally, Barclays upped their price target on REGENXBIO from $45.00 to $55.00 and gave the stock an "overweight" rating in a research note on Thursday, March 7th.

REGENXBIO Stock Performance

Shares of RGNX stock traded up $0.85 during trading hours on Wednesday, reaching $16.20. The company had a trading volume of 482,007 shares, compared to its average volume of 702,767. The stock has a fifty day moving average of $19.70 and a 200-day moving average of $17.84. The company has a market capitalization of $794.45 million, a price-to-earnings ratio of -2.69 and a beta of 1.29. REGENXBIO has a 12-month low of $11.83 and a 12-month high of $28.80.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.16). REGENXBIO had a negative net margin of 291.99% and a negative return on equity of 68.18%. The company had revenue of $22.30 million during the quarter, compared to analysts' expectations of $34.01 million. During the same quarter last year, the company earned ($1.38) earnings per share. REGENXBIO's revenue for the quarter was down 28.8% on a year-over-year basis. On average, analysts forecast that REGENXBIO will post -3.98 EPS for the current year.

Insider Activity

In other news, insider Steve Pakola sold 12,878 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total value of $365,220.08. Following the sale, the insider now directly owns 107,192 shares in the company, valued at $3,039,965.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $21.86, for a total value of $327,900.00. Following the transaction, the chief executive officer now owns 408,035 shares of the company's stock, valued at $8,919,645.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steve Pakola sold 12,878 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the transaction, the insider now directly owns 107,192 shares in the company, valued at approximately $3,039,965.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,878 shares of company stock worth $1,217,370. Corporate insiders own 13.13% of the company's stock.

Hedge Funds Weigh In On REGENXBIO

Several large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in shares of REGENXBIO by 73.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 746 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of REGENXBIO during the first quarter worth about $56,000. Annandale Capital LLC purchased a new position in shares of REGENXBIO during the third quarter worth about $60,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of REGENXBIO by 352.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,093 shares of the biotechnology company's stock worth $91,000 after purchasing an additional 3,968 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of REGENXBIO by 47.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,540 shares of the biotechnology company's stock worth $173,000 after purchasing an additional 3,379 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.