REGENXBIO (NASDAQ:RGNX) Stock Rating Reaffirmed by Stifel Nicolaus

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating restated by equities researchers at Stifel Nicolaus in a research note issued on Friday, Benzinga reports. They presently have a $40.00 target price on the biotechnology company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 121.12% from the company’s previous close.

A number of other equities research analysts have also weighed in on RGNX. Leerink Partnrs upgraded shares of REGENXBIO from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 6th. Robert W. Baird increased their target price on REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Royal Bank of Canada raised REGENXBIO from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $20.00 to $35.00 in a report on Friday, March 8th. Chardan Capital reiterated a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a report on Thursday, March 7th. Finally, StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.45.

REGENXBIO Price Performance

RGNX opened at $18.09 on Friday. The stock has a market capitalization of $887.13 million, a price-to-earnings ratio of -3.00 and a beta of 1.29. The business has a fifty day moving average price of $19.78 and a 200 day moving average price of $17.85. REGENXBIO has a 12 month low of $11.83 and a 12 month high of $28.80.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.16). The company had revenue of $22.30 million for the quarter, compared to analyst estimates of $34.01 million. REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The business’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.38) earnings per share. On average, research analysts anticipate that REGENXBIO will post -3.98 earnings per share for the current year.

Insider Buying and Selling at REGENXBIO

In related news, insider Steve Pakola sold 12,878 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the sale, the insider now owns 107,192 shares in the company, valued at approximately $3,039,965.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other REGENXBIO news, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total value of $251,400.00. Following the transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at approximately $6,838,666.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steve Pakola sold 12,878 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the transaction, the insider now directly owns 107,192 shares in the company, valued at approximately $3,039,965.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,878 shares of company stock worth $1,627,620. 12.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RGNX. Assenagon Asset Management S.A. acquired a new position in REGENXBIO during the fourth quarter worth $1,915,000. Raymond James & Associates increased its holdings in shares of REGENXBIO by 405.3% in the 3rd quarter. Raymond James & Associates now owns 100,620 shares of the biotechnology company’s stock valued at $1,656,000 after purchasing an additional 80,706 shares in the last quarter. Swiss National Bank lifted its stake in shares of REGENXBIO by 6.8% in the third quarter. Swiss National Bank now owns 86,000 shares of the biotechnology company’s stock valued at $1,416,000 after purchasing an additional 5,500 shares during the period. Hudson Bay Capital Management LP boosted its holdings in REGENXBIO by 35.3% during the third quarter. Hudson Bay Capital Management LP now owns 115,000 shares of the biotechnology company’s stock worth $1,893,000 after buying an additional 30,000 shares in the last quarter. Finally, Trexquant Investment LP boosted its holdings in REGENXBIO by 552.3% during the third quarter. Trexquant Investment LP now owns 85,913 shares of the biotechnology company’s stock worth $1,414,000 after buying an additional 72,742 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.