REGENXBIO (NASDAQ:RGNX) Stock Breaks Above 50-Day Moving Average - Time to Sell?

Key Points

• REGENXBIO shares moved above their 50-day moving average, reaching $8.23 before last trading at $8.07; the 50-day average was $7.77.
• Analyst views are mixed: the consensus rating is “Moderate Buy” with a $23.18 price target, though Wall Street Zen recently downgraded the stock to “Sell.”
• Quarterly loss per share was narrower than analysts expected ($0.62 versus $1.29), but revenue of $9.16 million fell short of the $10.89 million consensus estimate.

Shares of REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $7.77 and traded as high as $8.23. REGENXBIO shares last traded at $8.07, with a volume of 2,174,000 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RGNX shares. Wall Street Zen downgraded shares of REGENXBIO from a "hold" rating to a "sell" rating in a research note on Saturday. HC Wainwright reiterated a "buy" rating on shares of REGENXBIO in a research report on Monday, September 28th. Morgan Stanley reissued an "overweight" rating and issued a $18.00 price objective on shares of REGENXBIO in a research note on Friday, August 7th. UBS Group restated a "positive" rating on shares of REGENXBIO in a research report on Friday. Finally, Mizuho set a $18.00 target price on shares of REGENXBIO in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $23.18.

REGENXBIO Price Performance

The firm has a 50-day simple moving average of $7.77 and a 200 day simple moving average of $9.02. The stock has a market capitalization of $532.70 million, a P/E ratio of -2.51 and a beta of 1.24.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The biotechnology company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.67. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%. The company had revenue of $9.16 million for the quarter, compared to analysts' expectations of $10.89 million. Sell-side analysts anticipate that REGENXBIO Inc. will post -3.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors have recently added to or reduced their stakes in RGNX. Walleye Capital LLC acquired a new stake in shares of REGENXBIO in the second quarter valued at about $2,441,000. Bank of America Corp DE bought a new position in shares of REGENXBIO during the second quarter worth about $6,212,000. Bank of New York Mellon Corp bought a new position in shares of REGENXBIO during the second quarter worth about $1,608,000. Dimensional Fund Advisors LP lifted its stake in shares of REGENXBIO by 11.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,010,381 shares of the biotechnology company's stock worth $8,464,000 after acquiring an additional 106,530 shares during the period. Finally, Ieq Capital LLC acquired a new position in shares of REGENXBIO in the second quarter worth approximately $1,695,000. 88.08% of the stock is owned by institutional investors.

About REGENXBIO

REGENXBIO Inc NASDAQ: RGNX is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases. The company's programs use adeno-associated virus (AAV) vectors to deliver genetic material to targeted cells, with the goal of addressing the underlying causes of disease rather than primarily treating symptoms.

REGENXBIO's technology is built around its NAV AAV Technology Platform, which supports the design and development of gene-delivery vectors. Its pipeline has included investigational therapies for conditions such as Duchenne muscular dystrophy, Hunter syndrome, age-related macular degeneration and other rare diseases.

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.