Brokerages Set REGENXBIO Inc. (NASDAQ:RGNX) Price Target at $31.63

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) has received an average rating of "Moderate Buy" from the six ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $31.63.

RGNX has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of REGENXBIO from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. Leerink Partners set a $24.00 price objective on shares of REGENXBIO in a research report on Tuesday, March 18th. Wall Street Zen upgraded shares of REGENXBIO from a "sell" rating to a "hold" rating in a report on Friday, March 7th. HC Wainwright cut their price target on shares of REGENXBIO from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Finally, The Goldman Sachs Group decreased their price target on REGENXBIO from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, April 17th.

Insider Activity

In other news, Director Kenneth T. Mills sold 20,602 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $7.91, for a total value of $162,961.82. Following the completion of the sale, the director directly owned 475,103 shares in the company, valued at $3,758,064.73. This trade represents a 4.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 12.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RGNX. Acadian Asset Management LLC bought a new stake in shares of REGENXBIO during the first quarter valued at approximately $1,123,000. Jane Street Group LLC grew its position in REGENXBIO by 151.1% in the 1st quarter. Jane Street Group LLC now owns 414,067 shares of the biotechnology company's stock valued at $2,961,000 after purchasing an additional 249,156 shares during the period. Exome Asset Management LLC acquired a new stake in REGENXBIO in the 1st quarter valued at $2,898,000. AQR Capital Management LLC increased its stake in REGENXBIO by 2,247.7% during the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company's stock valued at $4,437,000 after purchasing an additional 594,161 shares in the last quarter. Finally, ADAR1 Capital Management LLC raised its holdings in REGENXBIO by 86.4% during the first quarter. ADAR1 Capital Management LLC now owns 350,352 shares of the biotechnology company's stock worth $2,505,000 after buying an additional 162,423 shares during the last quarter. Institutional investors own 88.08% of the company's stock.

REGENXBIO Stock Up 0.2%

NASDAQ:RGNX traded up $0.02 during trading hours on Monday, hitting $8.23. 758,692 shares of the company were exchanged, compared to its average volume of 926,351. REGENXBIO has a one year low of $5.04 and a one year high of $15.36. The company has a fifty day simple moving average of $9.00 and a 200 day simple moving average of $7.86.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.29). The company had revenue of $89.01 million for the quarter, compared to the consensus estimate of $105.35 million. REGENXBIO had a negative return on equity of 53.29% and a negative net margin of 100.62%. Analysts predict that REGENXBIO will post -4.84 earnings per share for the current 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.