REGENXBIO (NASDAQ:RGNX) Shares Climb 8.1% - What's Next?

Key Points

• REGENXBIO shares rose 8.1% to about $8.03 in Monday trading, although volume was 83% below the average session level.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $23.17—well above the current share price.
• The company exceeded quarterly expectations, reporting $0.43 in earnings per share versus an estimated $0.08 and revenue of $108.02 million versus forecasts of $97.63 million; institutional investors own 88.08% of the stock.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report)'s stock price rose 8.1% during trading on Monday. The stock traded as high as $7.86 and last traded at $8.0330. Approximately 239,321 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,431,109 shares. The stock had previously closed at $7.43.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RGNX shares. Wall Street Zen upgraded REGENXBIO from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 8th. Barclays downgraded REGENXBIO from an "overweight" rating to a "hold" rating in a research report on Friday, August 7th. Morgan Stanley reissued an "overweight" rating and issued a $18.00 price objective on shares of REGENXBIO in a research report on Friday, August 7th. HC Wainwright restated a "buy" rating on shares of REGENXBIO in a research note on Monday, September 28th. Finally, Leerink Partners raised their target price on REGENXBIO from $17.00 to $18.00 and gave the company an "outperform" rating in a research report on Monday, June 22nd. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.17.

REGENXBIO Trading Up 6.6%

The stock's 50-day moving average price is $9.26 and its two-hundred day moving average price is $9.12. The stock has a market capitalization of $522.80 million, a P/E ratio of -2.09 and a beta of 1.13.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RGNX. Walleye Capital LLC purchased a new stake in REGENXBIO in the 2nd quarter worth about $2,441,000. Bank of New York Mellon Corp purchased a new stake in REGENXBIO during the second quarter valued at about $1,608,000. Bank of America Corp DE purchased a new stake in REGENXBIO during the second quarter valued at about $6,212,000. Dimensional Fund Advisors LP boosted its position in REGENXBIO by 11.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,010,381 shares of the biotechnology company's stock worth $8,464,000 after purchasing an additional 106,530 shares during the period. Finally, Propel Bio Management LLC purchased a new position in shares of REGENXBIO in the fourth quarter worth about $1,683,000. Hedge funds and other institutional investors own 88.08% of the company's stock.

About REGENXBIO

REGENXBIO Inc is a biotechnology company focused on developing and commercializing gene therapies for serious diseases. The company's programs are based primarily on its proprietary NAV AAV Technology Platform, which uses adeno-associated virus (AAV) vectors to deliver genetic material to targeted cells. Its research has emphasized conditions affecting the central nervous system, muscles and other tissues.

REGENXBIO's pipeline has included investigational therapies such as RGX-121 for mucopolysaccharidosis type II, RGX-111 for mucopolysaccharidosis type I and RGX-202 for Duchenne muscular dystrophy.

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