REGENXBIO (NASDAQ:RGNX) Earns Buy Rating from HC Wainwright

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $26.00 price target on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 154.90% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Robert W. Baird increased their price objective on shares of REGENXBIO from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of REGENXBIO in a research report on Monday, June 8th. Bank of America lowered their price target on REGENXBIO from $25.00 to $14.00 and set a “buy” rating for the company in a report on Friday, May 15th. Leerink Partners raised their price objective on REGENXBIO from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Barclays decreased their target price on REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.82.

REGENXBIO Stock Performance

Shares of NASDAQ:RGNX traded up $0.25 during trading on Wednesday, reaching $10.20. 1,199,701 shares of the stock were exchanged, compared to its average volume of 1,272,921. REGENXBIO has a 12-month low of $5.45 and a 12-month high of $16.19. The firm has a market cap of $527.34 million, a price-to-earnings ratio of -1.82 and a beta of 1.04. The firm’s 50-day moving average price is $7.89 and its 200 day moving average price is $9.98.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) EPS for the quarter, missing the consensus estimate of ($1.36) by ($0.36). The business had revenue of $6.39 million during the quarter, compared to analysts’ expectations of $25.84 million. REGENXBIO had a negative net margin of 330.23% and a negative return on equity of 232.50%. As a group, equities research analysts forecast that REGENXBIO will post -3.69 EPS for the current year.

Insider Transactions at REGENXBIO

In other REGENXBIO news, insider Steve Pakola sold 15,309 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $11.02, for a total value of $168,705.18. Following the transaction, the insider owned 232,617 shares in the company, valued at $2,563,439.34. The trade was a 6.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 14.22% of the stock is owned by company insiders.

Institutional Trading of REGENXBIO

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in REGENXBIO by 2,247.7% during the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock worth $4,437,000 after buying an additional 594,161 shares during the last quarter. Jane Street Group LLC increased its stake in REGENXBIO by 151.1% during the 1st quarter. Jane Street Group LLC now owns 414,067 shares of the biotechnology company’s stock valued at $2,961,000 after buying an additional 249,156 shares during the period. Franklin Resources Inc. bought a new stake in REGENXBIO during the second quarter worth approximately $239,000. American Century Companies Inc. lifted its position in shares of REGENXBIO by 8.4% in the 2nd quarter. American Century Companies Inc. now owns 110,066 shares of the biotechnology company’s stock valued at $904,000 after acquiring an additional 8,487 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in REGENXBIO in the second quarter valued at approximately $87,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

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.