REGENXBIO Inc. (NASDAQ:RGNX) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• REGENXBIO Inc. has received an average rating of "Moderate Buy" from six research firms, with a 12-month price target of $31.63.
• The company reported a quarterly earnings miss, with $0.12 EPS against an estimated $0.41 and revenue of $89.01 million, below the expected $105.35 million.
• Insider trading activity includes the sale of 20,602 shares by Director Kenneth T. Mills at an average price of $7.91, reflecting a 4.16% decrease in his position.

Shares of REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating 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.

Several brokerages recently weighed in on RGNX. The Goldman Sachs Group dropped their target price on REGENXBIO from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Chardan Capital reaffirmed a "buy" rating and set a $52.00 target price on shares of REGENXBIO in a report on Monday, June 9th.

Insider Buying and Selling

In related news, Director Kenneth T. Mills sold 20,602 shares of the business's stock in a transaction 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 completion of the sale, the director owned 475,103 shares of the company's stock, valued at approximately $3,758,064.73. The trade was a 4.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.79% of the company's stock.

Institutional Investors Weigh In On REGENXBIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in REGENXBIO by 67.0% in the 4th quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company's stock worth $31,975,000 after acquiring an additional 1,659,206 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in REGENXBIO in the 1st quarter worth $484,000. Wealth Enhancement Advisory Services LLC acquired a new stake in REGENXBIO during the 1st quarter worth $123,000. Price T Rowe Associates Inc. MD boosted its stake in REGENXBIO by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,910 shares of the biotechnology company's stock worth $185,000 after purchasing an additional 1,982 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in REGENXBIO by 370.1% during the 4th quarter. BNP Paribas Financial Markets now owns 96,093 shares of the biotechnology company's stock worth $743,000 after purchasing an additional 75,652 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company's stock.

REGENXBIO Price Performance

Shares of RGNX stock traded up $0.01 during mid-day trading on Friday, hitting $8.97. 188,493 shares of the stock traded hands, compared to its average volume of 996,929. The stock has a market cap of $449.68 million, a P/E ratio of -2.87 and a beta of 1.06. The stock's fifty day moving average is $9.00 and its two-hundred day moving average is $7.97. REGENXBIO has a 52-week low of $5.03 and a 52-week high of $15.36.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.29). The firm had revenue of $89.01 million for the quarter, compared to analysts' expectations of $105.35 million. REGENXBIO had a negative net margin of 100.62% and a negative return on equity of 53.29%. As a group, equities analysts forecast that REGENXBIO will post -4.84 EPS for the current fiscal year.

About REGENXBIO

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.