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

Key Points

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REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $28.3750.

Several equities analysts recently commented on RGNX shares. Chardan Capital restated a "buy" rating and set a $52.00 target price on shares of REGENXBIO in a research report on Friday, August 8th. Royal Bank Of Canada reduced their target price on REGENXBIO from $21.00 to $17.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Wall Street Zen cut REGENXBIO from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Finally, Barclays reduced their target price on REGENXBIO from $50.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, August 8th.

Hedge Funds Weigh In On REGENXBIO

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of REGENXBIO by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 3,472,988 shares of the biotechnology company's stock valued at $24,832,000 after purchasing an additional 487,036 shares during the last quarter. Millennium Management LLC increased its position in shares of REGENXBIO by 406.3% during the 4th quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company's stock valued at $10,222,000 after purchasing an additional 1,061,187 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of REGENXBIO by 6.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,187,102 shares of the biotechnology company's stock valued at $9,176,000 after purchasing an additional 66,993 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of REGENXBIO by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,171,422 shares of the biotechnology company's stock valued at $9,054,000 after purchasing an additional 21,234 shares during the last quarter. Finally, Geode Capital Management LLC lifted 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 acquiring an additional 21,575 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Stock Performance

Shares of NASDAQ RGNX opened at $8.71 on Tuesday. The stock has a market cap of $439.98 million, a PE ratio of -2.53 and a beta of 1.11. REGENXBIO has a fifty-two week low of $5.03 and a fifty-two week high of $13.48. The stock has a fifty day moving average of $8.65 and a 200-day moving average of $8.06.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last announced its quarterly 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 net margin of 112.70% and a negative return on equity of 66.95%. The company had revenue of $21.36 million during the quarter, compared to analysts' expectations of $40.87 million. On average, sell-side analysts predict 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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