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

REGENXBIO Inc. (NASDAQ:RGNX) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $30.00.

RGNX has been the topic of a number of recent research reports. Royal Bank Of Canada raised their price target on shares of REGENXBIO from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, November 7th. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price target on shares of REGENXBIO in a research report on Tuesday, October 7th. Chardan Capital reiterated a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a research note on Thursday, November 20th. Stifel Nicolaus increased their price objective on REGENXBIO from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday. Finally, Wall Street Zen raised REGENXBIO from a “sell” rating to a “hold” rating in a research note on Monday, November 24th.

Insider Activity at REGENXBIO

In other news, CEO Curran Simpson sold 20,811 shares of the business’s stock in a transaction on 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On REGENXBIO

Hedge funds have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its stake in shares of REGENXBIO by 33.9% in the third quarter. CANADA LIFE ASSURANCE Co now owns 14,510 shares of the biotechnology company’s stock worth $143,000 after purchasing an additional 3,671 shares during the period. Mariner LLC grew its holdings in REGENXBIO by 150.4% in the 3rd quarter. Mariner LLC now owns 32,306 shares of the biotechnology company’s stock valued at $312,000 after buying an additional 19,402 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in REGENXBIO in the 3rd quarter worth approximately $192,000. Invenomic Capital Management LP bought a new position in REGENXBIO in the 3rd quarter worth approximately $4,120,000. Finally, Brevan Howard Capital Management LP acquired a new position in shares of REGENXBIO during the third quarter worth approximately $158,000. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Price Performance

Shares of RGNX stock opened at $14.59 on Monday. REGENXBIO has a fifty-two week low of $5.03 and a fifty-two week high of $15.20. The stock’s 50-day moving average is $12.46 and its two-hundred day moving average is $10.24. The firm has a market cap of $738.55 million, a P/E ratio of -4.20 and a beta of 1.14.

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

REGENXBIO Company Profile

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO’s pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.