REGENXBIO Inc. (NASDAQ:RGNX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

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

A number of research firms recently weighed in on RGNX. Weiss Ratings reissued a “sell (d-)” rating on shares of REGENXBIO in a research report on Wednesday, October 8th. Leerink Partners upped their price target on REGENXBIO from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Chardan Capital reissued a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a report on Thursday, November 20th. HC Wainwright restated a “buy” rating and set a $34.00 price objective on shares of REGENXBIO in a research report on Tuesday, October 7th. Finally, Stifel Nicolaus upped their target price on REGENXBIO from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday.

Insider Activity

In other news, CEO Curran Simpson sold 20,811 shares of the firm’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $12.62, for a total transaction of $262,634.82. Following the completion of the transaction, the chief executive officer directly owned 216,162 shares of the company’s stock, valued at approximately $2,727,964.44. This trade represents a 8.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RGNX. CANADA LIFE ASSURANCE Co lifted its stake in REGENXBIO by 33.9% during the third quarter. CANADA LIFE ASSURANCE Co now owns 14,510 shares of the biotechnology company’s stock worth $143,000 after purchasing an additional 3,671 shares during the period. Mariner LLC grew its stake in shares of REGENXBIO by 150.4% in the 3rd quarter. Mariner LLC now owns 32,306 shares of the biotechnology company’s stock valued at $312,000 after purchasing an additional 19,402 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of REGENXBIO in the 3rd quarter worth approximately $192,000. Invenomic Capital Management LP bought a new position in shares of REGENXBIO during the 3rd quarter worth approximately $4,120,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of REGENXBIO during the 3rd quarter worth approximately $158,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Price Performance

NASDAQ:RGNX opened at $14.59 on Monday. REGENXBIO has a one year low of $5.03 and a one year high of $15.20. The company has a fifty day moving average price of $12.46 and a 200 day moving average price of $10.24. The stock has a market cap of $738.55 million, a P/E ratio of -4.20 and a beta of 1.14.

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