REGENXBIO Inc. (NASDAQ:RGNX) Receives $30.00 Average Target Price from Brokerages

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been given an average rating of “Moderate Buy” by the nine research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $30.00.

A number of research firms have commented on RGNX. Weiss Ratings restated a “sell (d-)” rating on shares of REGENXBIO in a research report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and set a $34.00 price objective on shares of REGENXBIO in a research note on Tuesday, October 7th. Royal Bank Of Canada boosted their target price on REGENXBIO from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Stifel Nicolaus upped their target price on REGENXBIO from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, Wall Street Zen raised REGENXBIO from a “sell” rating to a “hold” rating in a research note on Monday, November 24th.

Insiders Place Their Bets

In related news, CEO Curran Simpson sold 20,811 shares of REGENXBIO stock in a transaction dated 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 of the company’s stock, valued at $2,727,964.44. The trade was a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On REGENXBIO

Several large investors have recently made changes to their positions in RGNX. State of Alaska Department of Revenue bought a new stake in shares of REGENXBIO during the 3rd quarter worth $25,000. Aquatic Capital Management LLC purchased a new stake in shares of REGENXBIO during the third quarter valued at $37,000. Brooklyn Investment Group boosted its position in shares of REGENXBIO by 163.7% in the 1st 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 during the period. Jones Financial Companies Lllp increased its stake in REGENXBIO by 44.4% in the 3rd 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 in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in REGENXBIO by 754.1% in the 2nd 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 Price Performance

Shares of REGENXBIO stock opened at $14.63 on Monday. REGENXBIO has a 1-year low of $5.03 and a 1-year high of $15.41. The business’s fifty day moving average price is $12.64 and its two-hundred day moving average price is $10.35. The company has a market capitalization of $740.32 million, a P/E ratio of -4.21 and a beta of 1.14.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) EPS for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.18. The company had revenue of $29.73 million for the quarter, compared to analyst estimates of $24.41 million. REGENXBIO had a negative return on equity of 78.29% and a negative net margin of 110.29%. On average, research analysts expect that REGENXBIO will post -4.84 earnings per share for the current fiscal 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.