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

Key Points

• REGENXBIO Inc. is rated as a "Moderate Buy" by analysts, with five buy recommendations and one hold recommendation, leading to an average price target of $28.3750.
• The company reported a quarterly loss of ($1.38) earnings per share, which was below the analysts' expectations of ($1.13), alongside revenues of $21.36 million against estimates of $40.87 million.
• Insider selling has occurred, with CEO Curran Simpson selling 7,734 shares at an average price of $10.02, reducing his ownership by 3.07%.

Shares of REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) have been given an average rating of "Moderate Buy" by the six analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $28.3750.

A number of research firms have recently issued reports on RGNX. Chardan Capital reiterated a "buy" rating and issued a $52.00 price objective on shares of REGENXBIO in a report on Monday, September 8th. Royal Bank Of Canada lowered their target price on shares of REGENXBIO from $21.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Barclays lowered their target price on shares of REGENXBIO from $50.00 to $37.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. HC Wainwright restated a "buy" rating and set a $34.00 target price on shares of REGENXBIO in a report on Monday, September 8th. Finally, Wall Street Zen downgraded shares of REGENXBIO from a "hold" rating to a "strong sell" rating in a report on Saturday, August 9th.

Insiders Place Their Bets

In related news, CEO Curran Simpson sold 7,734 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $10.02, for a total transaction of $77,494.68. Following the transaction, the chief executive officer directly owned 244,597 shares in the company, valued at approximately $2,450,861.94. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.79% of the company's stock.

Hedge Funds Weigh In On REGENXBIO

A number of institutional investors have recently added to or reduced their stakes in RGNX. FNY Investment Advisers LLC acquired a new position in shares of REGENXBIO in the first quarter valued at $35,000. Brooklyn Investment Group increased its holdings in shares of REGENXBIO by 163.7% in the first quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company's stock valued at $40,000 after purchasing an additional 3,466 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of REGENXBIO by 754.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company's stock valued at $46,000 after purchasing an additional 5,000 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of REGENXBIO in the first quarter valued at $74,000. Finally, Captrust Financial Advisors acquired a new position in shares of REGENXBIO in the second quarter valued at $85,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

REGENXBIO Stock Down 3.1%

NASDAQ RGNX opened at $9.20 on Friday. REGENXBIO has a 12-month low of $5.03 and a 12-month high of $13.48. The company has a market capitalization of $464.69 million, a PE ratio of -2.67 and a beta of 1.17. The firm's 50 day moving average is $8.75 and its 200-day moving average is $8.25.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.13) by ($0.25). REGENXBIO had a negative net margin of 112.70% and a negative return on equity of 66.95%. The business had revenue of $21.36 million during the quarter, compared to analyst estimates of $40.87 million. As a group, sell-side analysts expect that REGENXBIO will post -4.84 EPS for the current year.

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.

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