REGENXBIO (NASDAQ:RGNX) Shares Gap Up – What’s Next?

REGENXBIO Inc. (NASDAQ:RGNX)’s share price gapped up prior to trading on Monday . The stock had previously closed at $8.65, but opened at $9.75. REGENXBIO shares last traded at $10.43, with a volume of 787,850 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RGNX shares. The Goldman Sachs Group decreased their price target on REGENXBIO from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. Morgan Stanley decreased their target price on shares of REGENXBIO from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday. Leerink Partners boosted their target price on shares of REGENXBIO from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Wall Street Zen downgraded shares of REGENXBIO from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Finally, HC Wainwright lowered their price objective on shares of REGENXBIO from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Monday. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, REGENXBIO presently has an average rating of “Moderate Buy” and an average target price of $27.50.

REGENXBIO Price Performance

The firm’s 50-day moving average price is $11.47 and its 200-day moving average price is $11.44. The company has a market cap of $544.49 million, a price-to-earnings ratio of -2.81 and a beta of 1.08.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings results on Thursday, March 5th. The biotechnology company reported ($1.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.29). REGENXBIO had a negative return on equity of 103.12% and a negative net margin of 113.75%.The business had revenue of $30.34 million for the quarter, compared to analysts’ expectations of $45.48 million. On average, sell-side analysts anticipate that REGENXBIO Inc. will post -4.84 earnings per share for the current year.

Institutional Investors Weigh In On REGENXBIO

A number of large investors have recently modified their holdings of RGNX. State of Alaska Department of Revenue acquired a new position in REGENXBIO during the 3rd quarter worth approximately $25,000. Aquatic Capital Management LLC acquired a new stake in REGENXBIO in the third quarter valued at approximately $37,000. Jones Financial Companies Lllp raised its stake in shares of REGENXBIO by 44.4% during the third quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 1,270 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of REGENXBIO by 754.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 5,000 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in REGENXBIO during the 2nd quarter worth $85,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

About REGENXBIO

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.