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

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have earned an average rating of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $38.45.

Several equities analysts recently issued reports on RGNX shares. Barclays upped their price objective on shares of REGENXBIO from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Royal Bank of Canada raised REGENXBIO from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $20.00 to $35.00 in a research report on Friday, March 8th. SVB Leerink upgraded REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 target price for the company in a research note on Wednesday, March 6th. Raymond James reissued an “outperform” rating and issued a $45.00 price target on shares of REGENXBIO in a research note on Wednesday, February 21st. Finally, Leerink Partnrs raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 6th.

Insider Transactions at REGENXBIO

In related news, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total transaction of $251,400.00. Following the transaction, the chief executive officer now owns 408,035 shares in the company, valued at approximately $6,838,666.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Steve Pakola sold 12,878 shares of REGENXBIO stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total transaction of $365,220.08. Following the sale, the insider now owns 107,192 shares in the company, valued at $3,039,965.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total transaction of $251,400.00. Following the completion of the transaction, the chief executive officer now owns 408,035 shares of the company’s stock, valued at $6,838,666.60. The disclosure for this sale can be found here. Insiders sold 57,878 shares of company stock valued at $1,217,370 over the last 90 days. Corporate insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new position in shares of REGENXBIO in the fourth quarter worth about $1,915,000. Raymond James & Associates boosted its stake in shares of REGENXBIO by 405.3% during the 3rd quarter. Raymond James & Associates now owns 100,620 shares of the biotechnology company’s stock valued at $1,656,000 after buying an additional 80,706 shares during the last quarter. Swiss National Bank grew its position in shares of REGENXBIO by 6.8% during the third quarter. Swiss National Bank now owns 86,000 shares of the biotechnology company’s stock worth $1,416,000 after buying an additional 5,500 shares in the last quarter. Hudson Bay Capital Management LP increased its stake in shares of REGENXBIO by 35.3% in the third quarter. Hudson Bay Capital Management LP now owns 115,000 shares of the biotechnology company’s stock worth $1,893,000 after buying an additional 30,000 shares during the last quarter. Finally, Trexquant Investment LP raised its holdings in REGENXBIO by 552.3% in the third quarter. Trexquant Investment LP now owns 85,913 shares of the biotechnology company’s stock valued at $1,414,000 after acquiring an additional 72,742 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Stock Performance

REGENXBIO stock opened at $16.96 on Wednesday. REGENXBIO has a fifty-two week low of $11.83 and a fifty-two week high of $28.80. The stock has a fifty day moving average of $19.57 and a two-hundred day moving average of $17.87. The company has a market capitalization of $831.72 million, a price-to-earnings ratio of -2.81 and a beta of 1.38.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.16). REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The company had revenue of $22.30 million for the quarter, compared to analysts’ expectations of $34.01 million. During the same quarter in the prior year, the business posted ($1.38) EPS. The company’s revenue for the quarter was down 28.8% compared to the same quarter last year. On average, analysts forecast that REGENXBIO will post -3.98 EPS for the current fiscal 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.