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

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been given an average rating of “Moderate Buy” by the six analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $28.3750.

A number of research firms have recently issued reports on RGNX. Chardan Capital reiterated a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a report on Monday, September 8th. Royal Bank Of Canada lowered their target price on shares of REGENXBIO from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Barclays lowered their target price on shares of REGENXBIO from $50.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. HC Wainwright restated a “buy” rating and set a $34.00 target price on shares of REGENXBIO in a report on Monday, September 8th. Finally, Wall Street Zen downgraded shares of REGENXBIO from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th.

Insiders Place Their Bets

In related news, CEO Curran Simpson sold 7,734 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $10.02, for a total transaction of $77,494.68. Following the transaction, the chief executive officer directly owned 244,597 shares in the company, valued at approximately $2,450,861.94. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.79% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

A number of institutional investors have recently added to or reduced their stakes in RGNX. FNY Investment Advisers LLC acquired a new position in shares of REGENXBIO in the first quarter valued at $35,000. Brooklyn Investment Group increased its holdings in shares of REGENXBIO by 163.7% in the first quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 3,466 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of REGENXBIO by 754.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 5,000 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of REGENXBIO in the first quarter valued at $74,000. Finally, Captrust Financial Advisors acquired a new position in shares of REGENXBIO in the second quarter valued at $85,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

REGENXBIO Stock Down 3.1%

NASDAQ RGNX opened at $9.20 on Friday. REGENXBIO has a 12-month low of $5.03 and a 12-month high of $13.48. The company has a market capitalization of $464.69 million, a PE ratio of -2.67 and a beta of 1.17. The firm’s 50 day moving average is $8.75 and its 200-day moving average is $8.25.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.25). REGENXBIO had a negative net margin of 112.70% and a negative return on equity of 66.95%. The business had revenue of $21.36 million during the quarter, compared to analyst estimates of $40.87 million. As a group, sell-side analysts expect that REGENXBIO will post -4.84 EPS 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.