REGENXBIO (NASDAQ:RGNX) Earns "Buy" Rating from Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of REGENXBIO (NASDAQ:RGNX - Free Report) in a research note issued to investors on Monday,Benzinga reports. Chardan Capital currently has a $52.00 price objective on the biotechnology company's stock.

A number of other analysts have also issued reports on the stock. HC Wainwright reduced their price target on shares of REGENXBIO from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Leerink Partners set a $24.00 target price on shares of REGENXBIO in a research report on Tuesday, March 18th. The Goldman Sachs Group decreased 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. Morgan Stanley lifted their price objective on REGENXBIO from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Finally, Wall Street Zen upgraded REGENXBIO from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $31.63.

REGENXBIO Stock Performance

REGENXBIO stock remained flat at $10.20 during midday trading on Monday. 542,456 shares of the company were exchanged, compared to its average volume of 924,640. REGENXBIO has a 1 year low of $5.04 and a 1 year high of $15.36. The firm has a market cap of $511.63 million, a price-to-earnings ratio of -2.03 and a beta of 1.09. The firm has a fifty day moving average of $8.29 and a two-hundred day moving average of $7.95.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last issued its earnings results on Monday, May 12th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.29). The business 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%. As a group, research analysts predict that REGENXBIO will post -4.84 EPS for the current fiscal year.

Insider Buying and Selling

In other REGENXBIO news, Director Kenneth T. Mills sold 20,602 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $7.91, for a total transaction of $162,961.82. Following the completion of the transaction, the director now owns 475,103 shares of the company's stock, valued at $3,758,064.73. The trade was a 4.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.79% of the company's stock.

Institutional Investors Weigh In On REGENXBIO

Several hedge funds and other institutional investors have recently made changes to their positions in RGNX. Acadian Asset Management LLC bought a new stake in REGENXBIO during the 1st quarter valued at approximately $1,123,000. Jane Street Group LLC lifted its holdings in shares of REGENXBIO by 151.1% during the first quarter. Jane Street Group LLC now owns 414,067 shares of the biotechnology company's stock worth $2,961,000 after buying an additional 249,156 shares during the last quarter. Exome Asset Management LLC acquired a new position in shares of REGENXBIO during the first quarter worth approximately $2,898,000. AQR Capital Management LLC boosted its position in shares of REGENXBIO by 2,247.7% in the first quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company's stock valued at $4,437,000 after acquiring an additional 594,161 shares during the period. Finally, ADAR1 Capital Management LLC grew its stake in shares of REGENXBIO by 86.4% in the first quarter. ADAR1 Capital Management LLC now owns 350,352 shares of the biotechnology company's stock worth $2,505,000 after acquiring an additional 162,423 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

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.