REGENXBIO (NASDAQ:RGNX) Given "Buy" Rating at Chardan Capital

Key Points

• Chardan Capital has reaffirmed a buy rating for REGENXBIO (NASDAQ:RGNX) with a price target of $52.00, while Goldman Sachs has downgraded its price target from $14.00 to $12.00 and assigned a neutral rating.
• The biotechnology company reported a loss of $0.29 per share for the last quarter, missing analysts' expectations, and had revenue of $89.01 million, also below estimates.
• Recent institutional trading shows significant increases in holdings, with companies like Millennium Management increasing their position by 406.3% in the last quarter.

Chardan Capital reissued their buy rating on shares of REGENXBIO (NASDAQ:RGNX - Free Report) in a research note issued to investors on Friday morning,Benzinga reports. Chardan Capital currently has a $52.00 target price on the biotechnology company's stock.

Separately, The Goldman Sachs Group decreased their price target on shares of REGENXBIO from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, REGENXBIO has a consensus rating of "Moderate Buy" and a consensus price target of $28.38.

REGENXBIO Trading Down 0.6%

RGNX stock traded down $0.05 during mid-day trading on Friday, hitting $7.85. The stock had a trading volume of 637,496 shares, compared to its average volume of 597,723. REGENXBIO has a 52 week low of $5.03 and a 52 week high of $13.48. The firm has a market capitalization of $393.76 million, a P/E ratio of -2.28 and a beta of 1.11. The firm has a fifty day simple moving average of $8.79 and a 200 day simple moving average of $8.03.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) EPS 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 firm had revenue of $21.36 million during the quarter, compared to the consensus estimate of $40.87 million. As a group, equities analysts expect that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kenneth T. Mills sold 20,602 shares of REGENXBIO stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $7.91, for a total transaction of $162,961.82. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On REGENXBIO

Hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC acquired a new stake in REGENXBIO during the 1st quarter worth approximately $484,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of REGENXBIO in the 1st quarter worth approximately $123,000. Price T Rowe Associates Inc. MD lifted its position in shares of REGENXBIO by 9.0% in 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 period. BNP Paribas Financial Markets lifted its position in shares of REGENXBIO by 370.1% in 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 period. Finally, Wells Fargo & Company MN lifted its position in shares of REGENXBIO by 34.0% in the 4th quarter. Wells Fargo & Company MN now owns 48,437 shares of the biotechnology company's stock worth $374,000 after purchasing an additional 12,285 shares during the period. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.