Brokerages Set REGENXBIO Inc. (NASDAQ:RGNX) PT at $28.38

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%.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $28.3750.

RGNX has been the subject of several analyst reports. Royal Bank Of Canada decreased their target price on shares of REGENXBIO from $21.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Wall Street Zen cut shares of REGENXBIO from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Barclays dropped their price objective on shares of REGENXBIO from $50.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Chardan Capital reaffirmed a "buy" rating and set a $52.00 target price on shares of REGENXBIO in a research note on Monday, September 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $34.00 price objective on shares of REGENXBIO in a research note on Monday, September 8th.

Insider Activity at REGENXBIO

In other REGENXBIO 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 value of $77,494.68. Following the transaction, the chief executive officer directly owned 244,597 shares of the company's stock, valued at approximately $2,450,861.94. The trade was a 3.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.79% of the stock is owned by insiders.

Institutional Investors Weigh In On REGENXBIO

Several institutional investors and hedge funds have recently made changes to their positions in RGNX. Price T Rowe Associates Inc. MD raised its stake in REGENXBIO by 9.0% in the 4th 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 last quarter. Jane Street Group LLC raised its position in shares of REGENXBIO by 325.3% during the 4th quarter. Jane Street Group LLC now owns 164,911 shares of the biotechnology company's stock valued at $1,275,000 after acquiring an additional 126,135 shares in the last quarter. Ameriprise Financial Inc. increased its position in REGENXBIO by 4.7% in the fourth quarter. Ameriprise Financial Inc. now owns 284,521 shares of the biotechnology company's stock worth $2,199,000 after buying an additional 12,883 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. Finally, Deutsche Bank AG boosted its stake in REGENXBIO by 8.5% during the fourth quarter. Deutsche Bank AG now owns 200,375 shares of the biotechnology company's stock valued at $1,549,000 after buying an additional 15,722 shares in the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

REGENXBIO Price Performance

NASDAQ RGNX traded up $0.33 during trading on Friday, reaching $9.36. 349,929 shares of the company's stock traded hands, compared to its average volume of 483,906. The firm has a market cap of $472.77 million, a price-to-earnings ratio of -2.72 and a beta of 1.17. The company's 50 day simple moving average is $8.78 and its two-hundred day simple moving average is $8.33. REGENXBIO has a 12-month low of $5.03 and a 12-month high of $13.15.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.25). REGENXBIO had a negative return on equity of 66.95% and a negative net margin of 112.70%.The company had revenue of $21.36 million for the quarter, compared to analysts' expectations of $40.87 million. Research analysts expect that REGENXBIO will post -4.84 earnings per share for the current fiscal 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.