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

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have received an average rating of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $28.3750.

A number of equities analysts have recently issued reports on RGNX shares. HC Wainwright reissued a “buy” rating and set a $34.00 target price on shares of REGENXBIO in a research note on Tuesday, October 7th. Royal Bank Of Canada cut their target price on REGENXBIO from $21.00 to $17.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Barclays dropped their target price on shares of REGENXBIO from $50.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Wall Street Zen cut shares of REGENXBIO from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of REGENXBIO in a report on Wednesday, October 8th.

REGENXBIO Trading Down 0.4%

Shares of RGNX stock opened at $12.77 on Friday. The company has a market cap of $645.01 million, a price-to-earnings ratio of -3.71 and a beta of 1.17. The stock has a 50 day simple moving average of $10.52 and a 200-day simple moving average of $9.33. REGENXBIO has a 12-month low of $5.03 and a 12-month high of $13.93.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results 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). The business had revenue of $21.36 million for the quarter, compared to analysts’ expectations of $40.87 million. REGENXBIO had a negative return on equity of 66.95% and a negative net margin of 112.70%. On average, equities analysts forecast that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Insider Transactions at REGENXBIO

In other REGENXBIO news, CEO Curran Simpson sold 20,811 shares of the stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $12.62, for a total value of $262,634.82. Following the completion of the transaction, the chief executive officer directly owned 216,162 shares of the company’s stock, valued at approximately $2,727,964.44. This trade represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 36,169 shares of company stock valued at $416,598 over the last three months. Company insiders own 12.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its holdings in REGENXBIO by 28.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,314 shares of the biotechnology company’s stock valued at $413,000 after buying an additional 8,684 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of REGENXBIO in the third quarter valued at approximately $25,000. SG Americas Securities LLC acquired a new stake in shares of REGENXBIO in the third quarter valued at approximately $257,000. CWM LLC grew its position in shares of REGENXBIO by 45.3% in the third quarter. CWM LLC now owns 68,035 shares of the biotechnology company’s stock valued at $657,000 after purchasing an additional 21,219 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of REGENXBIO by 23.2% in the third quarter. Assenagon Asset Management S.A. now owns 705,403 shares of the biotechnology company’s stock valued at $6,807,000 after purchasing an additional 132,942 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.