Raymond James Reiterates Outperform Rating for REGENXBIO (NASDAQ:RGNX)

REGENXBIO (NASDAQ:RGNX)‘s stock had its “outperform” rating reaffirmed by stock analysts at Raymond James in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $18.00 price target on the biotechnology company’s stock. Raymond James’ target price suggests a potential upside of 82.00% from the stock’s current price.

A number of other equities analysts have also commented on RGNX. StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Barclays reduced their price target on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $39.00 price target on shares of REGENXBIO in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.45.

REGENXBIO Stock Up 6.5 %

NASDAQ RGNX opened at $9.89 on Thursday. REGENXBIO has a twelve month low of $9.11 and a twelve month high of $28.80. The business’s fifty day moving average is $11.50 and its 200 day moving average is $13.78. The company has a market cap of $488.76 million, a price-to-earnings ratio of -1.88 and a beta of 1.21.

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

Insider Transactions at REGENXBIO

In related news, Director Kenneth T. Mills sold 12,221 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $13.78, for a total value of $168,405.38. Following the completion of the sale, the director now directly owns 408,035 shares of the company’s stock, valued at $5,622,722.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Kenneth T. Mills sold 12,221 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $13.78, for a total value of $168,405.38. Following the sale, the director now owns 408,035 shares in the company, valued at $5,622,722.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth T. Mills sold 2,210 shares of REGENXBIO stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $13.77, for a total value of $30,431.70. Following the transaction, the director now directly owns 408,035 shares in the company, valued at approximately $5,618,641.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,279 shares of company stock valued at $864,034 in the last 90 days. 13.13% of the stock is currently owned by corporate insiders.

Institutional Trading of REGENXBIO

A number of institutional investors and hedge funds have recently modified their holdings of RGNX. Perceptive Advisors LLC bought a new stake in shares of REGENXBIO during the 4th quarter worth $6,146,000. Virtu Financial LLC purchased a new position in REGENXBIO in the fourth quarter valued at about $377,000. PNC Financial Services Group Inc. grew its position in shares of REGENXBIO by 73.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 746 shares during the period. Napatree Capital LLC bought a new position in shares of REGENXBIO during the 4th quarter valued at approximately $720,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of REGENXBIO by 44.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 106,284 shares of the biotechnology company’s stock worth $2,239,000 after purchasing an additional 32,584 shares during the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

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.