REGENXBIO Inc. (RGNX) Given Average Rating of “Buy” by Analysts
REGENXBIO Inc. (NASDAQ:RGNX) has been given a consensus rating of “Buy” by the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $39.50.
A number of research analysts have weighed in on the company. Bank of America Corporation increased their price target on REGENXBIO from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, September 21st. Chardan Capital reissued a “buy” rating and set a $75.00 price target (up previously from $55.00) on shares of REGENXBIO in a research note on Tuesday, September 5th. Zacks Investment Research lowered REGENXBIO from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Evercore ISI assumed coverage on REGENXBIO in a research note on Wednesday, August 16th. They set an “outperform” rating and a $25.00 price target on the stock. Finally, BidaskClub raised REGENXBIO from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th.
In other REGENXBIO news, insider Kenneth T. Mills sold 6,500 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $18.66, for a total value of $121,290.00. Following the transaction, the insider now directly owns 112,000 shares of the company’s stock, valued at $2,089,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vittal Vasista sold 3,040 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $21.09, for a total value of $64,113.60. Following the completion of the transaction, the chief financial officer now directly owns 103,118 shares in the company, valued at $2,174,758.62. The disclosure for this sale can be found here. Insiders sold a total of 184,640 shares of company stock worth $4,865,890 over the last ninety days. Corporate insiders own 17.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Redmile Group LLC purchased a new position in REGENXBIO in the first quarter valued at about $24,494,000. Victory Capital Management Inc. raised its position in REGENXBIO by 30.9% in the first quarter. Victory Capital Management Inc. now owns 46,969 shares of the biotechnology company’s stock valued at $907,000 after purchasing an additional 11,079 shares during the period. Schwab Charles Investment Management Inc. raised its position in REGENXBIO by 6.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 73,724 shares of the biotechnology company’s stock valued at $1,423,000 after purchasing an additional 4,275 shares during the period. JPMorgan Chase & Co. raised its position in REGENXBIO by 4.3% in the second quarter. JPMorgan Chase & Co. now owns 1,226,835 shares of the biotechnology company’s stock valued at $24,230,000 after purchasing an additional 51,041 shares during the period. Finally, Vanguard Group Inc. raised its position in REGENXBIO by 23.2% in the first quarter. Vanguard Group Inc. now owns 981,517 shares of the biotechnology company’s stock valued at $18,942,000 after purchasing an additional 184,700 shares during the period. 73.26% of the stock is currently owned by institutional investors.
Shares of REGENXBIO (RGNX) opened at 32.00 on Thursday. The firm has a 50-day moving average price of $29.71 and a 200-day moving average price of $29.71. REGENXBIO has a 52-week low of $14.88 and a 52-week high of $33.95. The stock’s market cap is $988.61 million.
REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.34. REGENXBIO had a negative return on equity of 38.74% and a negative net margin of 839.87%. The company had revenue of $6.56 million for the quarter. On average, analysts anticipate that REGENXBIO will post ($2.94) EPS for the current fiscal year.
REGENXBIO Inc is a clinical-stage biotechnology company. The Company’s gene therapy product candidates are designed to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. The Company develops products candidates across the therapeutic areas of metabolic, neurodegenerative and retinal diseases.
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