REGENXBIO (NASDAQ:RGNX) Trading 13.5% Higher - Time to Buy?

Shares of REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) rose 13.5% during mid-day trading on Monday . The company traded as high as $9.98 and last traded at $10.04. Approximately 329,360 shares changed hands during 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

RGNX has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of REGENXBIO from a "sell" rating to a "hold" rating in a report on Friday, March 7th. The Goldman Sachs Group reduced 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. Leerink Partners set a $24.00 target price on shares of REGENXBIO in a research note on Tuesday, March 18th. Raymond James assumed coverage on shares of REGENXBIO in a research report on Friday, February 7th. They issued an "outperform" rating and a $27.00 price target for the company. Finally, Chardan Capital reissued a "buy" rating and issued a $52.00 price target on shares of REGENXBIO in a research report on Thursday, March 20th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, REGENXBIO presently has an average rating of "Moderate Buy" and an average price target of $31.63.

REGENXBIO Stock Down 0.5%

The company has a market cap of $505.61 million, a price-to-earnings ratio of -2.00 and a beta of 1.11. The company's fifty day moving average price is $8.01 and its two-hundred day moving average price is $7.95.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.29). The firm had revenue of $89.01 million for the quarter, compared to analyst estimates of $105.35 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. Research analysts forecast that REGENXBIO Inc. will post -4.84 earnings per share for the current year.

Insider Transactions at REGENXBIO

In related news, Director Kenneth T. Mills sold 20,602 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $7.91, for a total value of $162,961.82. Following the completion of the sale, the director now owns 475,103 shares of the company's stock, valued at $3,758,064.73. This trade represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 12.79% of the company's stock.

Institutional Trading of REGENXBIO

Hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new stake in shares of REGENXBIO in the first quarter valued at approximately $35,000. Brooklyn Investment Group increased its holdings in shares of REGENXBIO by 163.7% in 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 acquired a new stake in shares of REGENXBIO in the fourth quarter valued at approximately $54,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of REGENXBIO in the fourth quarter valued at approximately $79,000. Finally, Laurion Capital Management LP acquired a new stake in shares of REGENXBIO in the fourth quarter valued at approximately $79,000. Institutional investors and hedge funds 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.