REGENXBIO (NASDAQ:RGNX) Shares Up 8% - Should You Buy?

Key Points

• REGENXBIO shares jumped about 8% on Monday, briefly hitting $10.70 after closing at $9.89, with trading volume slightly below its average.
• Analyst sentiment remains mixed but generally positive: several firms reiterated or raised bullish targets, while Zacks cut the stock to strong sell. MarketBeat reports an average rating of Moderate Buy with a price target of $23.82.
• The company’s most recent quarterly results were weak, as REGENXBIO missed estimates on both earnings and revenue, and analysts expect a full-year loss. Insiders have also been selling shares, though institutional investors still own most of the stock.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report)'s share price rose 8% during trading on Monday . The stock traded as high as $10.70 and last traded at $10.68. Approximately 1,358,429 shares changed hands during trading, a decline of 8% from the average session volume of 1,470,479 shares. The stock had previously closed at $9.89.

Analysts Set New Price Targets

A number of research firms recently weighed in on RGNX. Leerink Partners boosted their target price on REGENXBIO from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Monday, June 22nd. Barclays decreased their price target on shares of REGENXBIO from $37.00 to $12.00 and set an "overweight" rating on the stock in a research note on Friday, May 15th. Morgan Stanley set a $16.00 price objective on shares of REGENXBIO in a research note on Friday, May 15th. Robert W. Baird increased their target price on shares of REGENXBIO from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Monday, June 22nd. Finally, Zacks Research downgraded shares of REGENXBIO from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 14th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $23.82.

REGENXBIO Trading Up 7.9%

The stock has a 50 day simple moving average of $9.09 and a 200 day simple moving average of $9.84. The firm has a market capitalization of $551.69 million, a PE ratio of -1.91 and a beta of 0.90.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.36). REGENXBIO had a negative net margin of 330.23% and a negative return on equity of 232.50%. The company had revenue of $6.39 million for the quarter, compared to analysts' expectations of $25.84 million. As a group, equities analysts anticipate that REGENXBIO Inc. will post -3.69 earnings per share for the current year.

Insiders Place Their Bets

In other REGENXBIO news, insider Steve Pakola sold 2,161 shares of the firm's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total value of $29,476.04. Following the sale, the insider owned 213,009 shares of the company's stock, valued at $2,905,442.76. This trade represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 73,803 shares of company stock worth $886,937. Corporate insiders own 14.22% of the company's stock.

Hedge Funds Weigh In On REGENXBIO

Hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc raised its position in REGENXBIO by 60.4% in the second quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company's stock worth $33,000 after acquiring an additional 1,032 shares during the period. Deutsche Bank AG grew its position in shares of REGENXBIO by 0.8% during the 4th quarter. Deutsche Bank AG now owns 192,582 shares of the biotechnology company's stock valued at $2,773,000 after acquiring an additional 1,527 shares during the period. Captrust Financial Advisors grew its position in shares of REGENXBIO by 13.2% during the 4th quarter. Captrust Financial Advisors now owns 15,228 shares of the biotechnology company's stock valued at $219,000 after acquiring an additional 1,781 shares during the period. Diversified Trust Co increased its stake in shares of REGENXBIO by 15.9% in the 1st quarter. Diversified Trust Co now owns 15,499 shares of the biotechnology company's stock worth $130,000 after purchasing an additional 2,121 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of REGENXBIO by 12.2% in the 4th quarter. Intech Investment Management LLC now owns 21,367 shares of the biotechnology company's stock worth $308,000 after purchasing an additional 2,327 shares in the last quarter. 88.08% of the stock is owned by institutional investors.

About REGENXBIO

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO's pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.

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