REGENXBIO Inc. (NASDAQ:RGNX) Given Consensus Recommendation of "Moderate Buy" by Brokerages

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $31.63.

RGNX has been the topic of several analyst reports. Morgan Stanley boosted their price objective on REGENXBIO from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. Royal Bank of Canada reissued an "outperform" rating and set a $30.00 price objective on shares of REGENXBIO in a research note on Tuesday, January 21st. The Goldman Sachs Group reduced their price objective on REGENXBIO from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Leerink Partners set a $24.00 price objective on REGENXBIO in a research note on Tuesday, March 18th. Finally, Chardan Capital reissued a "buy" rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Thursday, March 20th.

REGENXBIO Price Performance

Shares of RGNX stock traded down $0.54 during trading hours on Friday, hitting $7.79. The stock had a trading volume of 240,878 shares, compared to its average volume of 860,867. REGENXBIO has a one year low of $5.04 and a one year high of $16.85. The stock's 50-day moving average price is $7.43 and its two-hundred day moving average price is $7.99. The stock has a market capitalization of $390.26 million, a price-to-earnings ratio of -1.55 and a beta of 1.11.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.29). REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. The company had revenue of $89.01 million for the quarter, compared to the consensus estimate of $105.35 million. As a group, equities research analysts predict that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Insider Buying and Selling at REGENXBIO

In related news, Director Kenneth T. Mills sold 20,602 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $7.91, for a total value of $162,961.82. Following the completion of the sale, the director now owns 475,103 shares in the company, valued at approximately $3,758,064.73. The trade was a 4.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.79% of the company's stock.

Institutional Trading of REGENXBIO

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of REGENXBIO by 67.0% in the fourth quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company's stock valued at $31,975,000 after purchasing an additional 1,659,206 shares during the period. Vanguard Group Inc. boosted 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 valued at $24,832,000 after purchasing an additional 487,036 shares during the period. Millennium Management LLC boosted its holdings in shares of REGENXBIO by 406.3% in the fourth quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company's stock valued at $10,222,000 after purchasing an additional 1,061,187 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of REGENXBIO by 6.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,187,102 shares of the biotechnology company's stock valued at $9,176,000 after purchasing an additional 66,993 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of REGENXBIO by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,171,422 shares of the biotechnology company's stock valued at $9,054,000 after purchasing an additional 21,234 shares during the period. 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.