REGENXBIO Inc. (NASDAQ:RGNX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been given an average rating of “Moderate Buy” by the twelve analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $37.91.

RGNX has been the subject of several recent analyst reports. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. The Goldman Sachs Group assumed coverage on REGENXBIO in a research note on Friday, June 7th. They set a “buy” rating and a $38.00 price target on the stock. Barclays cut their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, HC Wainwright restated a “buy” rating and set a $39.00 target price on shares of REGENXBIO in a research report on Wednesday, September 4th.

Insider Buying and Selling

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $11.56, for a total value of $115,600.00. Following the completion of the transaction, the director now directly owns 11,286 shares in the company, valued at $130,466.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Kenneth T. Mills sold 2,210 shares of REGENXBIO stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $13.77, for a total transaction of $30,431.70. Following the completion of the transaction, the director now owns 408,035 shares in the company, valued at $5,618,641.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $11.56, for a total value of $115,600.00. Following the transaction, the director now directly owns 11,286 shares in the company, valued at approximately $130,466.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,279 shares of company stock worth $875,634. Corporate insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RGNX. Redmile Group LLC boosted its stake in REGENXBIO by 21.0% in the 1st quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company’s stock valued at $95,901,000 after purchasing an additional 790,866 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of REGENXBIO by 258.7% in the second quarter. Assenagon Asset Management S.A. now owns 816,384 shares of the biotechnology company’s stock valued at $9,552,000 after acquiring an additional 588,773 shares in the last quarter. Vanguard Group Inc. increased its position in REGENXBIO by 9.8% during the first quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company’s stock worth $102,756,000 after acquiring an additional 436,043 shares during the period. Perceptive Advisors LLC acquired a new stake in shares of REGENXBIO during the 4th quarter worth approximately $6,146,000. Finally, Artal Group S.A. bought a new position in REGENXBIO in the first quarter valued at approximately $5,268,000. 88.08% of the stock is owned by institutional investors and hedge funds.

REGENXBIO Stock Up 1.1 %

NASDAQ:RGNX opened at $10.80 on Friday. The firm has a 50-day moving average price of $12.32 and a 200 day moving average price of $14.64. The firm has a market capitalization of $531.96 million, a PE ratio of -1.84 and a beta of 1.22. REGENXBIO has a 12-month low of $10.49 and a 12-month high of $28.80.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.24. The business had revenue of $22.30 million during the quarter, compared to analysts’ expectations of $22.97 million. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. REGENXBIO’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.66) EPS. On average, research analysts expect that REGENXBIO will post -4.66 EPS for the current year.

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.