REGENXBIO (NASDAQ:RGNX) Trading 9.1% Higher - Should You Buy?

Key Points

• REGENXBIO's stock climbed 9.1% to trade at $11.47, despite a significant decline in trading volume compared to the average.
• Analysts have varying ratings on REGENXBIO, with a consensus price target of $28.38 and five analysts rating it as a Buy.
• The company reported a loss of $1.38 EPS for the last quarter, missing estimates, and had revenue significantly below expectations at $21.36 million.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report)'s stock price traded up 9.1% during trading on Wednesday . The stock traded as high as $11.37 and last traded at $11.47. 92,417 shares were traded during trading, a decline of 90% from the average session volume of 891,980 shares. The stock had previously closed at $10.51.

Analysts Set New Price Targets

A number of research firms recently issued reports on RGNX. Royal Bank Of Canada decreased their target price on shares of REGENXBIO from $21.00 to $17.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Wall Street Zen cut shares of REGENXBIO from a "hold" rating to a "strong sell" rating in a report on Saturday, August 9th. HC Wainwright reaffirmed a "buy" rating and issued a $34.00 price objective on shares of REGENXBIO in a report on Tuesday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of REGENXBIO in a report on Wednesday. Finally, Chardan Capital reissued a "buy" rating and set a $52.00 target price on shares of REGENXBIO in a research note on Monday, September 8th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $28.38.

REGENXBIO Stock Performance

The company has a market cap of $603.90 million, a PE ratio of -3.45 and a beta of 1.17. The firm's 50 day moving average is $9.07 and its 200-day moving average is $8.60.

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

Insider Activity at REGENXBIO

In other news, CEO Curran Simpson sold 7,734 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $10.02, for a total value of $77,494.68. Following the transaction, the chief executive officer directly owned 244,597 shares in the company, valued at approximately $2,450,861.94. This represents a 3.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.79% of the company's stock.

Institutional Investors Weigh In On REGENXBIO

Hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its holdings in shares of REGENXBIO by 23.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 705,403 shares of the biotechnology company's stock valued at $6,807,000 after purchasing an additional 132,942 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of REGENXBIO by 2,049.0% in the 2nd quarter. Squarepoint Ops LLC now owns 219,288 shares of the biotechnology company's stock valued at $1,800,000 after buying an additional 209,084 shares during the last quarter. Headlands Technologies LLC purchased a new position in REGENXBIO during the 2nd quarter worth $108,000. CANADA LIFE ASSURANCE Co grew its position in REGENXBIO by 271.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 10,839 shares of the biotechnology company's stock worth $89,000 after purchasing an additional 7,924 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of REGENXBIO in the 2nd quarter worth $85,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

About REGENXBIO

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.