REGENXBIO’s (RGNX) Buy Rating Reiterated at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a report issued on Thursday,Benzinga reports. They currently have a $52.00 target price on the biotechnology company’s stock.

Several other equities analysts have also recently issued reports on the company. Royal Bank Of Canada upped their price objective on REGENXBIO from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. HC Wainwright restated a “buy” rating and issued a $34.00 price target on shares of REGENXBIO in a research note on Tuesday, October 7th. Wall Street Zen downgraded REGENXBIO from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of REGENXBIO in a research report on Wednesday, October 8th. Finally, Barclays decreased their target price on REGENXBIO from $50.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.63.

REGENXBIO Stock Performance

Shares of RGNX stock opened at $11.80 on Thursday. The company has a market capitalization of $597.32 million, a price-to-earnings ratio of -3.40 and a beta of 1.23. REGENXBIO has a one year low of $5.03 and a one year high of $13.93. The company’s 50-day moving average is $11.15 and its 200 day moving average is $9.64.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.38) by $0.18. The business had revenue of $29.73 million during the quarter, compared to analysts’ expectations of $24.41 million. REGENXBIO had a negative net margin of 110.29% and a negative return on equity of 78.29%. As a group, research analysts predict that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Curran Simpson sold 20,811 shares of REGENXBIO stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $12.62, for a total transaction of $262,634.82. Following the transaction, the chief executive officer directly owned 216,162 shares in the company, valued at approximately $2,727,964.44. The trade was a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 36,169 shares of company stock valued at $416,598. 12.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue purchased a new position in shares of REGENXBIO during the 3rd quarter valued at about $25,000. Aquatic Capital Management LLC bought a new stake in REGENXBIO during the 3rd quarter worth approximately $37,000. Brooklyn Investment Group lifted its holdings in REGENXBIO by 163.7% during 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 in the last quarter. Jones Financial Companies Lllp boosted its position in shares of REGENXBIO by 44.4% in the third quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 1,270 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake 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 worth $46,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

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.