REGENXBIO (NASDAQ:RGNX) Trading 8.5% Higher - Should You Buy?

Key Points

• REGENXBIO's stock price surged 8.5% during mid-day trading, closing at $12.20, despite a significant decline in trading volume compared to its average session.
• Equities analysts hold mixed views on REGENXBIO, with a consensus rating of "Moderate Buy" and a price target averaging $28.38, while Royal Bank of Canada and Barclays have recently reduced their price targets.
• Insider trading activity revealed that CEO Curran Simpson sold 20,811 shares, reducing his stake in the company by 8.78% amidst ongoing trading changes and market station.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report)'s stock price traded up 8.5% during mid-day trading on Wednesday . The company traded as high as $11.77 and last traded at $12.20. 25,771 shares traded hands during trading, a decline of 97% from the average session volume of 888,718 shares. The stock had previously closed at $11.25.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Royal Bank Of Canada reduced their price target on REGENXBIO from $21.00 to $17.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of REGENXBIO in a research report on Wednesday, October 8th. Barclays reduced their price target on REGENXBIO from $50.00 to $37.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. HC Wainwright reissued a "buy" rating and set a $34.00 price target on shares of REGENXBIO in a research report on Tuesday, October 7th. Finally, Wall Street Zen lowered REGENXBIO from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $28.38.

REGENXBIO Price Performance

The firm has a market cap of $609.61 million, a price-to-earnings ratio of -3.51 and a beta of 1.17. The company has a fifty day moving average price of $9.39 and a two-hundred day moving average price of $8.71.

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

Insiders Place Their Bets

In related news, CEO Curran Simpson sold 20,811 shares of the firm's stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $12.62, for a total value of $262,634.82. Following the transaction, the chief executive officer directly owned 216,162 shares of the company's stock, valued at approximately $2,727,964.44. This trade represents a 8.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 36,169 shares of company stock valued at $416,598. Corporate insiders own 12.79% of the company's stock.

Institutional Trading of REGENXBIO

A number of large investors have recently bought and sold shares of RGNX. Vanguard Group Inc. boosted its stake in REGENXBIO by 16.3% in the first quarter. Vanguard Group Inc. now owns 3,472,988 shares of the biotechnology company's stock worth $24,832,000 after purchasing an additional 487,036 shares in the last quarter. Geode Capital Management LLC lifted its stake in REGENXBIO by 1.9% in the second quarter. Geode Capital Management LLC now owns 1,128,521 shares of the biotechnology company's stock valued at $9,267,000 after buying an additional 21,575 shares during the period. AQR Capital Management LLC lifted its stake in REGENXBIO by 49.9% in the second quarter. AQR Capital Management LLC now owns 930,196 shares of the biotechnology company's stock valued at $7,637,000 after buying an additional 309,601 shares during the period. 22NW LP lifted its stake in REGENXBIO by 38.1% in the second quarter. 22NW LP now owns 923,679 shares of the biotechnology company's stock valued at $7,583,000 after buying an additional 255,000 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in REGENXBIO by 23.2% in the third quarter. Assenagon Asset Management S.A. now owns 705,403 shares of the biotechnology company's stock valued at $6,807,000 after buying an additional 132,942 shares during the period. 88.08% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.