REGENXBIO (NASDAQ:RGNX) Trading 13.5% Higher - What's Next?

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report)'s stock price was up 13.5% during mid-day trading on Monday . The stock traded as high as $9.98 and last traded at $10.04. Approximately 329,360 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 893,914 shares. The stock had previously closed at $8.85.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RGNX shares. Chardan Capital restated a "buy" rating and set a $52.00 price target on shares of REGENXBIO in a research report on Thursday, March 20th. Morgan Stanley boosted their target price on REGENXBIO from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. HC Wainwright cut their target price on REGENXBIO from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, March 17th. Leerink Partners set a $24.00 price target on shares of REGENXBIO in a research note on Tuesday, March 18th. Finally, The Goldman Sachs Group cut their price objective 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.63.

REGENXBIO Trading Up 15.0%

The company has a market capitalization of $482.04 million, a P/E ratio of -1.91 and a beta of 1.11. The company's 50 day moving average is $8.04 and its 200-day moving average is $7.94.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last announced its quarterly earnings data 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). REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. The business had revenue of $89.01 million during the quarter, compared to analysts' expectations of $105.35 million. Analysts predict that REGENXBIO Inc. will post -4.84 EPS for the current fiscal year.

Insider Buying and Selling

In other REGENXBIO news, Director Kenneth T. Mills sold 20,602 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $7.91, for a total transaction of $162,961.82. Following the completion of the sale, the director now directly owns 475,103 shares in the company, valued at approximately $3,758,064.73. This trade represents a 4.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors have recently made changes to their positions in RGNX. FNY Investment Advisers LLC bought a new position in REGENXBIO in the 1st quarter valued at approximately $35,000. Brooklyn Investment Group lifted 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 purchasing an additional 3,466 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of REGENXBIO during the fourth quarter valued at $54,000. Pallas Capital Advisors LLC purchased a new position in REGENXBIO in the 1st quarter worth about $74,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of REGENXBIO during the 4th quarter valued at about $79,000. Hedge funds and other institutional investors own 88.08% of the company's stock.

REGENXBIO Company Profile

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.