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

Key Points

• Analyst sentiment is moderately bullish: Ten of 13 analysts rate REGENXBIO a buy, while two recommend selling and one recommends holding. The average 12-month price target is $23.82, versus a recent share price of $9.96.
• Recent financial results fell short of expectations: REGENXBIO reported a quarterly loss of $1.72 per share versus the estimated $1.36 loss, while revenue of $6.39 million was well below the $25.84 million consensus estimate.
• Institutional ownership remains high, but insiders have been selling: Institutions and hedge funds own 88.08% of the stock, while company insiders sold 73,803 shares worth approximately $886,937 over the past 90 days.

Shares of REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirteen ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $23.8182.

Several analysts have issued reports on the company. Barclays cut their price objective on REGENXBIO from $37.00 to $12.00 and set an "overweight" rating on the stock in a research note on Friday, May 15th. Weiss Ratings reiterated a "sell (e+)" rating on shares of REGENXBIO in a report on Monday, June 8th. Leerink Partners upped their price target on REGENXBIO from $17.00 to $18.00 and gave the company an "outperform" rating in a research report on Monday, June 22nd. Zacks Research lowered REGENXBIO from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 14th. Finally, Robert W. Baird raised their price objective on REGENXBIO from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, June 22nd.

REGENXBIO Stock Performance

Shares of REGENXBIO stock opened at $9.96 on Tuesday. The firm has a market cap of $514.93 million, a PE ratio of -1.78 and a beta of 0.94. The firm's 50-day simple moving average is $9.70 and its 200-day simple moving average is $9.49. REGENXBIO has a 1 year low of $5.45 and a 1 year high of $16.19.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) EPS for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.36). The firm had revenue of $6.39 million during the quarter, compared to analyst estimates of $25.84 million. REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%. On average, equities analysts predict that REGENXBIO will post -3.69 earnings per share for the current year.

Insider Buying and Selling at REGENXBIO

In other REGENXBIO news, insider Steve Pakola sold 2,161 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total transaction of $29,476.04. Following the sale, the insider directly owned 213,009 shares of the company's stock, valued at approximately $2,905,442.76. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 73,803 shares of company stock worth $886,937 over the last 90 days. 14.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RGNX. Versant Capital Management Inc boosted its holdings in shares of REGENXBIO by 60.4% during the second quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company's stock valued at $33,000 after acquiring an additional 1,032 shares during the period. Deutsche Bank AG increased its holdings in shares of REGENXBIO by 0.8% in the 4th quarter. Deutsche Bank AG now owns 192,582 shares of the biotechnology company's stock worth $2,773,000 after acquiring an additional 1,527 shares during the period. Captrust Financial Advisors increased its holdings in shares of REGENXBIO by 13.2% in the 4th quarter. Captrust Financial Advisors now owns 15,228 shares of the biotechnology company's stock worth $219,000 after acquiring an additional 1,781 shares during the period. Diversified Trust Co increased its holdings in shares of REGENXBIO by 15.9% in the 1st quarter. Diversified Trust Co now owns 15,499 shares of the biotechnology company's stock worth $130,000 after acquiring an additional 2,121 shares during the period. Finally, Intech Investment Management LLC lifted its position in REGENXBIO by 12.2% in the 4th quarter. Intech Investment Management LLC now owns 21,367 shares of the biotechnology company's stock valued at $308,000 after purchasing an additional 2,327 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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