REGENXBIO (NASDAQ:RGNX) Receives Buy Rating from Chardan Capital

Chardan Capital reissued their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research note published on Monday,Benzinga reports. The brokerage currently has a $52.00 target price on the biotechnology company’s stock.

Several other research firms have also recently issued reports on RGNX. Leerink Partners set a $24.00 target price on REGENXBIO in a research note on Tuesday, March 18th. HC Wainwright lowered their price target on REGENXBIO from $36.00 to $34.00 and set a “buy” rating for the company in a report on Monday, March 17th. Wall Street Zen raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. The Goldman Sachs Group reduced their price objective on shares of REGENXBIO from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, Morgan Stanley upped their target price on shares of REGENXBIO from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.63.

REGENXBIO Price Performance

Shares of RGNX stock opened at $9.53 on Monday. The firm’s 50-day moving average is $8.15 and its two-hundred day moving average is $7.92. REGENXBIO has a 12 month low of $5.04 and a 12 month high of $15.36. The company has a market capitalization of $478.02 million, a PE ratio of -1.89 and a beta of 1.09.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings results on Monday, May 12th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.29). The firm had revenue of $89.01 million for the quarter, compared to analyst estimates of $105.35 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. Sell-side analysts forecast that REGENXBIO will post -4.84 EPS for the current year.

Insider Activity at REGENXBIO

In related news, Director Kenneth T. Mills sold 20,602 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $7.91, for a total transaction of $162,961.82. Following the completion of the transaction, the director now directly owns 475,103 shares in the company, valued at $3,758,064.73. This trade represents a 4.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 12.79% of the company’s stock.

Institutional Trading of REGENXBIO

Institutional investors and hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC purchased a new position in shares of REGENXBIO in the first quarter valued at approximately $35,000. Brooklyn Investment Group lifted its holdings in REGENXBIO by 163.7% during the 1st quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company’s stock worth $40,000 after buying an additional 3,466 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in REGENXBIO during the 4th quarter worth approximately $54,000. Dynamic Technology Lab Private Ltd purchased a new position in REGENXBIO in the 4th quarter valued at approximately $79,000. Finally, Laurion Capital Management LP purchased a new position in REGENXBIO in the 4th quarter valued at approximately $79,000. 88.08% of the stock is currently owned by hedge funds and other 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.