REGENXBIO (NASDAQ:RGNX) Reaches New 1-Year High - Still a Buy?

Key Points

• REGENXBIO's stock reached a new 52-week high of $12.84, closing at $12.52, with strong trading volume of 176,301 shares.
• Despite several analysts maintaining a "buy" rating, the average price target varies significantly, with estimates ranging from $17.00 to $52.00.
• The company reported a loss of $1.38 EPS in its latest earnings report, missing expectations and indicating a negative net margin of 112.70%.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $12.84 and last traded at $12.52, with a volume of 176301 shares changing hands. The stock had previously closed at $12.30.

Analyst Ratings Changes

Several equities analysts have issued reports on RGNX shares. Chardan Capital restated a "buy" rating and issued a $52.00 price target on shares of REGENXBIO in a research report on Monday, September 8th. HC Wainwright restated a "buy" rating and issued a $34.00 price target on shares of REGENXBIO in a research report on Tuesday, October 7th. Wall Street Zen cut shares of REGENXBIO from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Royal Bank Of Canada decreased their price target on shares of REGENXBIO from $21.00 to $17.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Finally, Barclays decreased their price target on shares of REGENXBIO from $50.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, REGENXBIO currently has a consensus rating of "Moderate Buy" and an average price target of $28.38.

REGENXBIO Stock Up 5.0%

The firm has a market capitalization of $652.19 million, a P/E ratio of -3.77 and a beta of 1.17. The company's 50 day moving average is $9.47 and its 200-day moving average is $8.74.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last issued its earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.25). The company had revenue of $21.36 million for the quarter, compared to the consensus estimate of $40.87 million. REGENXBIO had a negative return on equity of 66.95% and a negative net margin of 112.70%. On average, analysts predict that REGENXBIO Inc. will post -4.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other REGENXBIO news, CEO Curran Simpson sold 20,811 shares of the company's stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $12.62, for a total transaction of $262,634.82. Following the transaction, the chief executive officer owned 216,162 shares in the company, valued at approximately $2,727,964.44. This represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 36,169 shares of company stock worth $416,598 in the last 90 days. Corporate insiders own 12.79% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new position in REGENXBIO during the first quarter worth $35,000. Brooklyn Investment Group raised its holdings in REGENXBIO by 163.7% during the first 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. Steward Partners Investment Advisory LLC raised its holdings in REGENXBIO by 754.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company's stock worth $46,000 after buying an additional 5,000 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of REGENXBIO in the 2nd quarter worth $85,000. Finally, Prudential Financial Inc. bought a new stake in shares of REGENXBIO in the 2nd quarter worth $87,000. 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.

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