Brokerages Set REGENXBIO Inc. (NASDAQ:RGNX) Price Target at $35.45

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have received a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $35.45.

Several equities analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $39.00 price target on shares of REGENXBIO in a report on Wednesday, September 4th. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Chardan Capital reiterated a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a research note on Tuesday, October 22nd. Raymond James restated an “outperform” rating and set a $18.00 price target on shares of REGENXBIO in a research note on Thursday, October 10th. Finally, Barclays decreased their price objective on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, August 5th.

REGENXBIO Price Performance

Shares of RGNX stock opened at $9.35 on Wednesday. The stock’s 50-day moving average is $11.10 and its 200 day moving average is $12.97. REGENXBIO has a 1-year low of $9.11 and a 1-year high of $28.80. The company has a market cap of $460.54 million, a P/E ratio of -1.59 and a beta of 1.21.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.24. The business had revenue of $22.30 million for the quarter, compared to analysts’ expectations of $22.97 million. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 68.21%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned ($1.66) EPS. On average, analysts anticipate that REGENXBIO will post -4.66 EPS for the current year.

Insider Activity

In related news, Director Argeris N. Karabelas sold 10,100 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $13.51, for a total transaction of $136,451.00. Following the completion of the transaction, the director now owns 11,286 shares of the company’s stock, valued at $152,473.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Argeris N. Karabelas sold 10,100 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $13.51, for a total transaction of $136,451.00. Following the sale, the director now directly owns 11,286 shares of the company’s stock, valued at $152,473.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $11.56, for a total value of $115,600.00. Following the transaction, the director now owns 11,286 shares of the company’s stock, valued at approximately $130,466.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,200 shares of company stock valued at $354,651 in the last ninety days. Insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of REGENXBIO by 80.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 170,218 shares of the biotechnology company’s stock worth $3,586,000 after acquiring an additional 75,800 shares in the last quarter. Integral Health Asset Management LLC boosted its position in REGENXBIO by 25.0% during the second quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company’s stock worth $11,115,000 after purchasing an additional 190,000 shares in the last quarter. Quest Partners LLC grew its holdings in REGENXBIO by 11,731.0% in the second quarter. Quest Partners LLC now owns 42,000 shares of the biotechnology company’s stock valued at $491,000 after purchasing an additional 41,645 shares during the period. ProShare Advisors LLC grew its holdings in REGENXBIO by 8.3% in the first quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock valued at $240,000 after purchasing an additional 874 shares during the period. Finally, Squarepoint Ops LLC increased its position in shares of REGENXBIO by 630.9% in the second quarter. Squarepoint Ops LLC now owns 146,259 shares of the biotechnology company’s stock valued at $1,711,000 after buying an additional 126,249 shares in the last quarter. Institutional investors and hedge funds 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.