REGENXBIO Inc. (RGNX) Research Coverage Started at Raymond James Financial, Inc.
Raymond James Financial, Inc. began coverage on shares of REGENXBIO Inc. (NASDAQ:RGNX) in a report issued on Thursday. The firm set an “outperform” rating and a $39.00 price target on the biotechnology company’s stock. Raymond James Financial, Inc.’s price objective would suggest a potential upside of 15.73% from the stock’s current price.
A number of other equities analysts have also issued reports on the company. Chardan Capital reaffirmed a “buy” rating and set a $75.00 price target (up 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. Bank of America Corporation increased their price target on REGENXBIO from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, September 21st. Evercore ISI started coverage on REGENXBIO in a research note on Wednesday, August 16th. They set an “outperform” rating and a $25.00 price target for the company. Finally, BidaskClub raised REGENXBIO from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $37.50.
Shares of REGENXBIO (NASDAQ RGNX) traded up 4.15% during trading on Thursday, reaching $35.10. The company had a trading volume of 84,056 shares. The stock’s market capitalization is $1.08 billion. REGENXBIO has a 12 month low of $15.25 and a 12 month high of $36.10. The stock’s 50-day moving average price is $30.46 and its 200-day moving average price is $30.46.
REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.34. The firm had revenue of $6.56 million during the quarter. REGENXBIO had a negative return on equity of 38.74% and a negative net margin of 839.87%. Equities analysts forecast that REGENXBIO will post ($2.94) earnings per share for the current fiscal year.
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In other news, Director Donald J. Hayden, Jr. sold 20,000 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $32.45, for a total value of $649,000.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at $649,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vittal Vasista sold 3,040 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 103,118 shares of the company’s stock, valued at approximately $2,174,758.62. The disclosure for this sale can be found here. Insiders have sold a total of 184,640 shares of company stock valued at $4,865,890 in the last quarter. Insiders own 17.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in RGNX. Legal & General Group Plc lifted its holdings in shares of REGENXBIO by 41.4% in the second quarter. Legal & General Group Plc now owns 6,870 shares of the biotechnology company’s stock valued at $137,000 after purchasing an additional 2,011 shares in the last quarter. Ardsley Advisory Partners purchased a new stake in shares of REGENXBIO in the second quarter valued at $197,000. Oxford Asset Management purchased a new stake in shares of REGENXBIO in the first quarter valued at $206,000. American International Group Inc. lifted its holdings in shares of REGENXBIO by 7.1% in the first quarter. American International Group Inc. now owns 12,468 shares of the biotechnology company’s stock valued at $241,000 after purchasing an additional 822 shares in the last quarter. Finally, Voya Investment Management LLC purchased a new stake in shares of REGENXBIO in the second quarter valued at $249,000. Institutional investors own 73.26% of the company’s stock.
REGENXBIO Company Profile
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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