REGENXBIO (NASDAQ:RGNX) Earns "Buy" Rating from 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 reaffirmed their buy rating on shares of REGENXBIO (NASDAQ:RGNX - Free Report) in a research note released on Friday morning,Benzinga reports. They currently have a $52.00 price objective on the biotechnology company's stock.

Separately, The Goldman Sachs Group lowered their target price on shares of REGENXBIO from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $28.38.

REGENXBIO Price Performance

Shares of NASDAQ:RGNX traded up $0.46 during midday trading on Friday, reaching $7.92. The company had a trading volume of 480,557 shares, compared to its average volume of 975,006. The stock's fifty day moving average price is $8.73 and its 200-day moving average price is $8.03. The stock has a market capitalization of $399.84 million, a P/E ratio of -2.30 and a beta of 1.11. REGENXBIO has a one year low of $5.03 and a one year high of $13.48.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its 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 business had revenue of $21.36 million for the quarter, compared to the consensus estimate of $40.87 million. As a group, sell-side analysts forecast that REGENXBIO will post -4.84 earnings per share for the current year.

Hedge Funds Weigh In On REGENXBIO

Several hedge funds and other institutional investors have recently modified their holdings of RGNX. FNY Investment Advisers LLC acquired a new position in shares of REGENXBIO during the first quarter valued at $35,000. Brooklyn Investment Group boosted its holdings in shares of REGENXBIO by 163.7% during the first quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company's stock valued at $40,000 after acquiring an additional 3,466 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of REGENXBIO during the fourth quarter valued at $54,000. Pallas Capital Advisors LLC acquired a new position in shares of REGENXBIO during the first quarter valued at $74,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of REGENXBIO during the fourth 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.