REGENXBIO (NASDAQ:RGNX) Trading 6.1% Higher - Time to Buy?

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) shares were up 6.1% on Wednesday . The company traded as high as $10.39 and last traded at $10.40. Approximately 161,895 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 921,095 shares. The stock had previously closed at $9.81.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RGNX shares. HC Wainwright dropped their target price on REGENXBIO from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, March 17th. Wall Street Zen upgraded REGENXBIO from a "sell" rating to a "hold" rating in a report on Friday, March 7th. The Goldman Sachs Group dropped their target price on REGENXBIO from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Leerink Partners set a $24.00 target price on REGENXBIO in a report on Tuesday, March 18th. Finally, Chardan Capital reiterated a "buy" rating and issued a $52.00 target price on shares of REGENXBIO in a report on Monday, June 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.63.

REGENXBIO Price Performance

The business has a fifty day moving average of $8.45 and a 200 day moving average of $7.94. The stock has a market cap of $464.98 million, a price-to-earnings ratio of -1.84 and a beta of 1.09.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.29). The firm had revenue of $89.01 million during 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%. On average, analysts expect that REGENXBIO Inc. will post -4.84 EPS for the current year.

Insiders Place Their Bets

In other REGENXBIO news, Director Kenneth T. Mills sold 20,602 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was 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 owns 475,103 shares of the company's stock, valued at $3,758,064.73. This represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.79% of the company's stock.

Institutional Investors Weigh In On REGENXBIO

A number of large investors have recently added to or reduced their stakes in RGNX. JPMorgan Chase & Co. boosted its position in shares of REGENXBIO by 67.0% in the fourth quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company's stock valued at $31,975,000 after acquiring an additional 1,659,206 shares during the period. Price T Rowe Associates Inc. MD raised its stake in REGENXBIO by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,910 shares of the biotechnology company's stock valued at $185,000 after purchasing an additional 1,982 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in REGENXBIO by 370.1% in the 4th quarter. BNP Paribas Financial Markets now owns 96,093 shares of the biotechnology company's stock valued at $743,000 after purchasing an additional 75,652 shares during the period. Wells Fargo & Company MN boosted its holdings in REGENXBIO by 34.0% in the 4th quarter. Wells Fargo & Company MN now owns 48,437 shares of the biotechnology company's stock valued at $374,000 after purchasing an additional 12,285 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in REGENXBIO in the 4th quarter valued at $568,000. 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.