REGENXBIO's (RGNX) Buy Rating Reaffirmed at Chardan Capital

Key Points

• Chardan Capital has reaffirmed a buy rating for REGENXBIO, setting a target price of $52.00, suggesting a potential upside of 435.53% from its current price.
• REGENXBIO reported a quarterly loss of ($1.38) per share, missing analyst estimates and generating $21.36 million in revenue, significantly below the expected $40.87 million.
• Recent fluctuations in analyst ratings include upgrades to "buy" from HC Wainwright and downgrades to "strong sell" from Wall Street Zen, contributing to a consensus rating of Moderate Buy.

REGENXBIO (NASDAQ:RGNX - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Chardan Capital in a research note issued to investors on Monday,Benzinga reports. They presently have a $52.00 price target on the biotechnology company's stock. Chardan Capital's price objective would indicate a potential upside of 435.53% from the stock's current price.

Other equities analysts also recently issued research reports about the stock. HC Wainwright reissued a "buy" rating and issued a $34.00 target price on shares of REGENXBIO in a research note on Monday. Barclays cut their target price on shares of REGENXBIO from $50.00 to $37.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Royal Bank Of Canada cut their target price on shares of REGENXBIO from $21.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Wall Street Zen downgraded shares of REGENXBIO from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, REGENXBIO has a consensus rating of "Moderate Buy" and a consensus target price of $28.38.

REGENXBIO Stock Up 3.1%

NASDAQ:RGNX opened at $9.71 on Monday. The company has a market cap of $490.45 million, a P/E ratio of -2.82 and a beta of 1.17. The firm's 50 day moving average is $8.65 and its two-hundred day moving average is $8.18. REGENXBIO has a fifty-two week low of $5.03 and a fifty-two week high of $13.48.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts' consensus estimates of ($1.13) by ($0.25). The company 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%. Research analysts forecast that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RGNX. FNY Investment Advisers LLC acquired a new position in REGENXBIO during the 1st quarter worth $35,000. Brooklyn Investment Group grew its holdings in REGENXBIO by 163.7% during the 1st quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company's stock worth $40,000 after acquiring an additional 3,466 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in REGENXBIO by 754.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company's stock worth $46,000 after acquiring an additional 5,000 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in REGENXBIO during the 1st quarter worth $74,000. Finally, Laurion Capital Management LP acquired a new position in REGENXBIO during the 4th quarter worth $79,000. 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.

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