REGENXBIO's (RGNX) "Buy" Rating Reiterated at HC Wainwright

Key Points

• REGENXBIO's stock has been given a "buy" rating with a target price of $34.00 by HC Wainwright, suggesting a potential upside of 218.05% from its current price.
• The company reported a loss of $1.38 earnings per share for the last quarter, missing analysts' estimates, with revenues of $21.36 million against projected revenue of $40.87 million.
• Insider trading activity includes CEO Curran Simpson selling 7,624 shares of REGENXBIO at an average price of $10.03 each, resulting in a 3.12% decrease in their ownership position.

REGENXBIO (NASDAQ:RGNX - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $34.00 target price on the biotechnology company's stock. HC Wainwright's target price would suggest a potential upside of 218.05% from the company's current price.

RGNX has been the topic of a number of other reports. Chardan Capital restated a "buy" rating and set a $52.00 price target on shares of REGENXBIO in a report on Monday, September 8th. Royal Bank Of Canada decreased their price target on shares of REGENXBIO from $21.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Wall Street Zen cut shares of REGENXBIO from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of REGENXBIO in a research report on Saturday, September 27th. Finally, Barclays cut 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. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $28.38.

REGENXBIO Trading Up 2.5%

Shares of RGNX opened at $10.69 on Tuesday. The firm's fifty day simple moving average is $9.03 and its two-hundred day simple moving average is $8.58. REGENXBIO has a 12 month low of $5.03 and a 12 month high of $12.22. The stock has a market capitalization of $539.99 million, a P/E ratio of -3.11 and a beta of 1.17.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last announced its quarterly earnings data 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). REGENXBIO had a negative net margin of 112.70% and a negative return on equity of 66.95%. The business had revenue of $21.36 million during the quarter, compared to analyst estimates of $40.87 million. 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, CEO Curran Simpson sold 7,624 shares of the firm's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $10.03, for a total transaction of $76,468.72. Following the transaction, the chief executive officer directly owned 236,973 shares in the company, valued at approximately $2,376,839.19. This trade represents a 3.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.79% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Squarepoint Ops LLC grew its position in REGENXBIO by 2,049.0% in the 2nd quarter. Squarepoint Ops LLC now owns 219,288 shares of the biotechnology company's stock worth $1,800,000 after purchasing an additional 209,084 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of REGENXBIO in the second quarter valued at approximately $108,000. CANADA LIFE ASSURANCE Co increased its position in shares of REGENXBIO by 271.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 10,839 shares of the biotechnology company's stock valued at $89,000 after acquiring an additional 7,924 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of REGENXBIO during the second quarter valued at approximately $85,000. Finally, Rafferty Asset Management LLC purchased a new position in REGENXBIO in the second quarter worth $498,000. 88.08% of the stock is 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.

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