Shares of REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $28.3750.
Several research firms recently weighed in on RGNX. Chardan Capital restated a "buy" rating and set a $52.00 target price on shares of REGENXBIO in a report on Monday, September 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of REGENXBIO in a report on Saturday, September 27th. Royal Bank Of Canada cut their price objective 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 cut their price objective 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. Finally, HC Wainwright reiterated a "buy" rating and issued a $34.00 price objective on shares of REGENXBIO in a report on Tuesday.
Check Out Our Latest Stock Report on REGENXBIO
REGENXBIO Trading Down 1.7%
NASDAQ:RGNX opened at $10.51 on Wednesday. The firm has a market capitalization of $530.86 million, a price-to-earnings ratio of -3.06 and a beta of 1.17. The firm's fifty day simple moving average is $9.07 and its 200 day simple moving average is $8.60. REGENXBIO has a twelve month low of $5.03 and a twelve month high of $12.22.
REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted 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). The business had revenue of $21.36 million for the quarter, compared to analyst estimates of $40.87 million. REGENXBIO had a negative net margin of 112.70% and a negative return on equity of 66.95%. On average, analysts predict that REGENXBIO will post -4.84 earnings per share for the current year.
Insider Buying and Selling
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 owned 244,597 shares in the company, valued at $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 is available through the SEC website. 12.79% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On REGENXBIO
A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in REGENXBIO by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 3,472,988 shares of the biotechnology company's stock worth $24,832,000 after buying an additional 487,036 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of REGENXBIO by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,128,521 shares of the biotechnology company's stock valued at $9,267,000 after purchasing an additional 21,575 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of REGENXBIO by 49.9% in the 2nd quarter. AQR Capital Management LLC now owns 930,196 shares of the biotechnology company's stock valued at $7,637,000 after purchasing an additional 309,601 shares in the last quarter. 22NW LP raised its stake in shares of REGENXBIO by 38.1% in the 2nd quarter. 22NW LP now owns 923,679 shares of the biotechnology company's stock valued at $7,583,000 after purchasing an additional 255,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of REGENXBIO by 23.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 705,403 shares of the biotechnology company's stock valued at $6,807,000 after purchasing an additional 132,942 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company's stock.
REGENXBIO Company Profile
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Get Free Report)
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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