REGENXBIO Inc. (NASDAQ:RGNX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $35.45.

A number of equities research analysts have weighed in on RGNX shares. Raymond James reiterated an “outperform” rating and issued a $18.00 target price on shares of REGENXBIO in a report on Thursday, October 10th. Barclays reduced their price target on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, August 5th. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. HC Wainwright reissued a “buy” rating and set a $39.00 price objective on shares of REGENXBIO in a research report on Wednesday, September 4th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research report on Tuesday.

Insider Activity at REGENXBIO

In other REGENXBIO news, CEO Curran Simpson sold 9,648 shares of REGENXBIO stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.04, for a total transaction of $145,105.92. Following the transaction, the chief executive officer now directly owns 170,137 shares of the company’s stock, valued at $2,558,860.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Argeris N. Karabelas sold 11,000 shares of REGENXBIO stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.04, for a total transaction of $165,440.00. Following the sale, the director now directly owns 11,286 shares in the company, valued at $169,741.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Curran Simpson sold 9,648 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.04, for a total transaction of $145,105.92. Following the completion of the transaction, the chief executive officer now owns 170,137 shares in the company, valued at approximately $2,558,860.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,848 shares of company stock valued at $665,197. 13.13% of the stock is owned by insiders.

Hedge Funds Weigh In On REGENXBIO

Institutional investors and hedge funds have recently bought and sold shares of the company. Redmile Group LLC raised its stake in shares of REGENXBIO by 21.0% in the first quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company’s stock valued at $95,901,000 after buying an additional 790,866 shares during the period. Assenagon Asset Management S.A. lifted its holdings in REGENXBIO by 258.7% during 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 purchasing an additional 588,773 shares during the last quarter. Vanguard Group Inc. boosted 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 purchasing an additional 436,043 shares during the period. Artal Group S.A. purchased a new position in shares of REGENXBIO in the first quarter worth about $5,268,000. Finally, Integral Health Asset Management LLC raised its position in shares of REGENXBIO by 25.0% in the second quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company’s stock valued at $11,115,000 after purchasing an additional 190,000 shares during the period. 88.08% of the stock is owned by institutional investors.

REGENXBIO Stock Performance

Shares of NASDAQ RGNX opened at $9.59 on Wednesday. The company’s 50 day moving average price is $11.26 and its 200-day moving average price is $13.17. REGENXBIO has a 52-week low of $9.11 and a 52-week high of $28.80. The company has a market capitalization of $473.94 million, a P/E ratio of -1.82 and a beta of 1.21.

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

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.