REGENXBIO (NASDAQ:RGNX) Earns "Buy" Rating from HC Wainwright

Key Points

• HC Wainwright has reaffirmed a buy rating for REGENXBIO (RGNX), with a target price of $34.00, indicating a potential upside of 250.15% from its last closing price.
• REGENXBIO reported a quarterly loss of ($1.38) earnings per share, falling short of analyst expectations, and generated revenue of $21.36 million, significantly below the expected $40.87 million.
• Overall, five investment analysts currently rate REGENXBIO as a buy while one has issued a hold rating, with a consensus target price of $28.38.

HC Wainwright reaffirmed their buy rating on shares of REGENXBIO (NASDAQ:RGNX - Free Report) in a report published on Monday,Benzinga reports. The brokerage currently has a $34.00 price objective on the biotechnology company's stock.

Several other research firms also recently issued reports on RGNX. Wall Street Zen downgraded REGENXBIO from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 9th. Barclays lowered their price target on REGENXBIO from $50.00 to $37.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Chardan Capital reiterated a "buy" rating and set a $52.00 price target on shares of REGENXBIO in a report on Friday, August 8th. Finally, Royal Bank Of Canada lowered their price target on REGENXBIO from $21.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, REGENXBIO presently has a consensus rating of "Moderate Buy" and an average target price of $28.38.

REGENXBIO Stock Performance

Shares of NASDAQ RGNX traded down $0.29 during mid-day trading on Monday, reaching $9.20. The company had a trading volume of 294,794 shares, compared to its average volume of 541,778. The stock has a fifty day moving average of $8.75 and a two-hundred day moving average of $8.25. The company has a market capitalization of $464.69 million, a price-to-earnings ratio of -2.67 and a beta of 1.17. REGENXBIO has a 12-month low of $5.03 and a 12-month high of $13.48.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share (EPS) 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 analysts' expectations of $40.87 million. REGENXBIO had a negative return on equity of 66.95% and a negative net margin of 112.70%. Sell-side analysts forecast that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Curran Simpson sold 7,734 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $10.02, for a total value of $77,494.68. Following the sale, the chief executive officer owned 244,597 shares of the company's stock, valued at $2,450,861.94. The trade was a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On REGENXBIO

A number of hedge funds have recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in shares of REGENXBIO by 406.3% during the fourth quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company's stock valued at $10,222,000 after acquiring an additional 1,061,187 shares during the period. 22NW LP bought a new position in shares of REGENXBIO during the first quarter valued at $4,781,000. AQR Capital Management LLC lifted its holdings in shares of REGENXBIO by 2,247.7% during 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. Vanguard Group Inc. lifted its holdings in shares of REGENXBIO by 16.3% during the first quarter. Vanguard Group Inc. now owns 3,472,988 shares of the biotechnology company's stock valued at $24,832,000 after acquiring an additional 487,036 shares during the period. Finally, Exome Asset Management LLC bought a new position in shares of REGENXBIO during the first quarter valued at $2,898,000. 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.