Chardan Capital Reaffirms “Buy” Rating for REGENXBIO (NASDAQ:RGNX)

Chardan Capital restated their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research report sent to investors on Monday,Benzinga reports. The firm currently has a $52.00 target price on the biotechnology company’s stock.

A number of other equities research analysts also recently commented on the company. HC Wainwright cut their price objective on REGENXBIO from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Leerink Partners set a $24.00 price objective on REGENXBIO in a research report on Tuesday, March 18th. Morgan Stanley increased their price objective on REGENXBIO from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. The Goldman Sachs Group cut their price objective on REGENXBIO from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, Wall Street Zen upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, REGENXBIO has an average rating of “Moderate Buy” and an average price target of $31.63.

REGENXBIO Price Performance

RGNX opened at $10.20 on Monday. The company has a market capitalization of $511.63 million, a price-to-earnings ratio of -2.03 and a beta of 1.09. REGENXBIO has a 1-year low of $5.04 and a 1-year high of $15.36. The business has a 50 day moving average price of $8.29 and a two-hundred day moving average price of $7.95.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Monday, May 12th. The biotechnology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.29). The firm had revenue of $89.01 million during the quarter, compared to analyst estimates of $105.35 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. Equities analysts expect that REGENXBIO will post -4.84 EPS for the current fiscal year.

Insider Activity

In other news, Director Kenneth T. Mills sold 20,602 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $7.91, for a total value of $162,961.82. Following the completion of the sale, the director now owns 475,103 shares in the company, valued at $3,758,064.73. This represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.79% of the company’s stock.

Institutional Trading of REGENXBIO

A number of hedge funds have recently modified their holdings of the business. Y Intercept Hong Kong Ltd acquired a new position in shares of REGENXBIO in the fourth quarter worth $1,062,000. Raymond James Financial Inc. acquired a new position in shares of REGENXBIO in the fourth quarter worth $568,000. Teacher Retirement System of Texas increased its stake in shares of REGENXBIO by 19.9% in the fourth quarter. Teacher Retirement System of Texas now owns 12,590 shares of the biotechnology company’s stock worth $97,000 after acquiring an additional 2,088 shares during the last quarter. American Century Companies Inc. increased its stake in shares of REGENXBIO by 8.8% in the fourth quarter. American Century Companies Inc. now owns 95,026 shares of the biotechnology company’s stock worth $735,000 after acquiring an additional 7,658 shares during the last quarter. Finally, AXQ Capital LP acquired a new position in shares of REGENXBIO in the fourth quarter worth $106,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.