REGENXBIO (NASDAQ:RGNX) Hits New 52-Week High – Still a Buy?

REGENXBIO Inc. (NASDAQ:RGNX)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $15.84 and last traded at $15.08, with a volume of 1000189 shares changing hands. The stock had previously closed at $14.59.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RGNX shares. HC Wainwright reiterated a “buy” rating and issued a $34.00 price objective on shares of REGENXBIO in a report on Tuesday, October 7th. Stifel Nicolaus increased their price target on REGENXBIO from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Royal Bank Of Canada boosted their price objective on REGENXBIO from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Chardan Capital restated a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a report on Thursday, November 20th. Finally, Leerink Partners raised their target price on REGENXBIO from $16.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.00.

REGENXBIO Price Performance

The company has a fifty day simple moving average of $13.08 and a 200-day simple moving average of $10.85. The company has a market cap of $763.35 million, a P/E ratio of -4.35 and a beta of 1.07.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.18. The business had revenue of $29.73 million for the quarter, compared to analysts’ expectations of $24.41 million. REGENXBIO had a negative return on equity of 78.29% and a negative net margin of 110.29%. On average, analysts anticipate that REGENXBIO Inc. will post -4.84 EPS for the current year.

Institutional Trading of REGENXBIO

Several institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in shares of REGENXBIO by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company’s stock worth $38,959,000 after buying an additional 185,223 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of REGENXBIO by 64.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock valued at $16,709,000 after acquiring an additional 454,977 shares in the last quarter. Geode Capital Management LLC boosted its stake in REGENXBIO by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,128,521 shares of the biotechnology company’s stock worth $9,267,000 after purchasing an additional 21,575 shares during the period. Integral Health Asset Management LLC grew its position in REGENXBIO by 57.1% during the 3rd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $10,615,000 after purchasing an additional 400,000 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in REGENXBIO by 49.9% during the 2nd quarter. AQR Capital Management LLC now owns 930,196 shares of the biotechnology company’s stock valued at $7,637,000 after purchasing an additional 309,601 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.