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

Shares of REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $31.63.

RGNX has been the topic of a number of recent analyst reports. HC Wainwright cut their target price on REGENXBIO from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Leerink Partners set a $24.00 price target on shares of REGENXBIO in a research note on Tuesday, March 18th. Wall Street Zen upgraded shares of REGENXBIO from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Morgan Stanley raised 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. Finally, Chardan Capital reissued a "buy" rating and issued a $52.00 target price on shares of REGENXBIO in a report on Thursday, March 20th.

REGENXBIO Trading Up 15.0%

RGNX stock traded up $1.25 during trading on Thursday, reaching $9.61. The stock had a trading volume of 1,911,385 shares, compared to its average volume of 918,496. The firm has a fifty day moving average price of $8.04 and a 200 day moving average price of $7.94. The company has a market capitalization of $482.04 million, a P/E ratio of -1.91 and a beta of 1.11. REGENXBIO has a 1-year low of $5.04 and a 1-year high of $15.36.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last announced its earnings results on Monday, May 12th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.29). The business had revenue of $89.01 million for the quarter, compared to analysts' expectations of $105.35 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. Sell-side analysts predict that REGENXBIO will post -4.84 EPS for the current year.

Insider Buying and Selling at REGENXBIO

In other REGENXBIO news, Director Kenneth T. Mills sold 20,602 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $7.91, for a total value of $162,961.82. Following the sale, the director now owns 475,103 shares in the company, valued at approximately $3,758,064.73. This trade represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On REGENXBIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in REGENXBIO by 67.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company's stock valued at $31,975,000 after acquiring an additional 1,659,206 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of REGENXBIO by 9.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,910 shares of the biotechnology company's stock valued at $185,000 after purchasing an additional 1,982 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of REGENXBIO by 370.1% during the fourth quarter. BNP Paribas Financial Markets now owns 96,093 shares of the biotechnology company's stock valued at $743,000 after purchasing an additional 75,652 shares during the period. Wells Fargo & Company MN raised its stake in shares of REGENXBIO by 34.0% during the fourth quarter. Wells Fargo & Company MN now owns 48,437 shares of the biotechnology company's stock valued at $374,000 after purchasing an additional 12,285 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in REGENXBIO in the fourth quarter worth about $568,000. 88.08% of the stock is owned by institutional investors.

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.