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

Key Points

• "Moderate Buy" consensus from 10 brokerages (8 buys, 1 hold, 1 sell) with an average 1‑year price target of $27.50.
• Latest quarter missed expectations—EPS of ($1.30) vs. ($1.01) expected and revenue $30.34M vs. $45.48M expected—while the stock trades around $8.76 with a market cap of about $452M and negative margins/ROE.
• Institutional ownership is high at 88.08% with major funds increasing stakes, while insiders own 12.79% and an insider (Steve Pakola) recently sold 5,124 shares.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $27.50.

RGNX has been the subject of several recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of REGENXBIO in a report on Thursday, January 22nd. Chardan Capital reduced their price target on REGENXBIO from $52.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, February 10th. Morgan Stanley reduced their price target on REGENXBIO from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Thursday, March 5th. Barclays initiated coverage on REGENXBIO in a report on Tuesday, January 27th. They issued an "overweight" rating and a $37.00 price target for the company. Finally, HC Wainwright reduced their price target on REGENXBIO from $32.00 to $30.00 and set a "buy" rating for the company in a report on Monday, March 9th.

REGENXBIO Trading Down 2.6%

Shares of RGNX stock opened at $8.76 on Friday. The business's 50 day moving average is $8.71 and its two-hundred day moving average is $11.28. The company has a market capitalization of $452.19 million, a P/E ratio of -2.33 and a beta of 1.14. REGENXBIO has a twelve month low of $6.89 and a twelve month high of $16.19.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its quarterly earnings results on Thursday, March 5th. The biotechnology company reported ($1.30) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.29). The business had revenue of $30.34 million during the quarter, compared to analyst estimates of $45.48 million. REGENXBIO had a negative net margin of 113.75% and a negative return on equity of 103.12%. As a group, equities analysts predict that REGENXBIO will post -2.34 earnings per share for the current fiscal year.

Insider Activity at REGENXBIO

In other news, insider Steve Pakola sold 5,124 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $10.35, for a total value of $53,033.40. Following the completion of the sale, the insider directly owned 247,926 shares of the company's stock, valued at $2,566,034.10. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On REGENXBIO

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in REGENXBIO by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company's stock worth $38,959,000 after purchasing an additional 185,223 shares during the last quarter. Vanguard Group Inc. raised its holdings in REGENXBIO by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 3,374,140 shares of the biotechnology company's stock worth $48,588,000 after purchasing an additional 36,042 shares during the last quarter. State Street Corp raised its holdings in REGENXBIO by 15.2% during the fourth quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company's stock worth $32,929,000 after purchasing an additional 301,858 shares during the last quarter. AQR Capital Management LLC raised its holdings in REGENXBIO by 5.6% during the fourth quarter. AQR Capital Management LLC now owns 1,361,962 shares of the biotechnology company's stock worth $19,612,000 after purchasing an additional 72,307 shares during the last quarter. Finally, Integral Health Asset Management LLC raised its holdings in REGENXBIO by 9.1% during the fourth quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the biotechnology company's stock worth $17,280,000 after purchasing an additional 100,000 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

About REGENXBIO

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO's pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.

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