REGENXBIO Inc. (NASDAQ:RGNX) Receives $31.63 Average PT from Brokerages

Shares of REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) have received an average recommendation of "Moderate Buy" from the six research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $31.63.

RGNX has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on REGENXBIO from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Wall Street Zen upgraded shares of REGENXBIO from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Leerink Partners set a $24.00 price objective on REGENXBIO in a report on Tuesday, March 18th. The Goldman Sachs Group cut their price objective on shares of REGENXBIO from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Chardan Capital reiterated a "buy" rating and set a $52.00 price target on shares of REGENXBIO in a research report on Monday, June 9th.

REGENXBIO Price Performance

Shares of NASDAQ:RGNX traded up $0.11 during trading hours on Monday, hitting $8.73. The company's stock had a trading volume of 423,942 shares, compared to its average volume of 925,796. The firm's fifty day moving average price is $9.01 and its 200 day moving average price is $7.86. REGENXBIO has a 52 week low of $5.04 and a 52 week high of $15.36. The company has a market capitalization of $437.90 million, a price-to-earnings ratio of -2.81 and a beta of 1.06.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its earnings results on Monday, May 12th. The biotechnology company reported $0.12 earnings per share 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 analysts' expectations of $105.35 million. REGENXBIO had a negative return on equity of 53.29% and a negative net margin of 100.62%. On average, equities research analysts predict that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Kenneth T. Mills sold 20,602 shares of the business's stock in a transaction that occurred on 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. The trade was a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 12.79% of the company's stock.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors have recently added to or reduced their stakes in RGNX. FNY Investment Advisers LLC acquired a new position in REGENXBIO during the first quarter worth $35,000. Brooklyn Investment Group boosted its holdings in REGENXBIO by 163.7% in the 1st quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company's stock worth $40,000 after buying an additional 3,466 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of REGENXBIO during the fourth quarter worth approximately $54,000. Pallas Capital Advisors LLC purchased a new stake in shares of REGENXBIO during the first quarter worth approximately $74,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in REGENXBIO in the 4th quarter valued at $79,000. Institutional investors and hedge funds own 88.08% of the company's stock.

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.