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

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $27.50.

A number of research firms have recently weighed in on RGNX. Weiss Ratings restated a “sell (d-)” rating on shares of REGENXBIO in a report on Thursday, January 22nd. Chardan Capital reduced their price objective on shares of REGENXBIO from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Robert W. Baird set a $27.00 target price on shares of REGENXBIO in a research report on Tuesday, February 10th. Barclays assumed coverage on shares of REGENXBIO in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $37.00 target price for the company. Finally, The Goldman Sachs Group cut their price target on shares of REGENXBIO from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, February 10th.

REGENXBIO Price Performance

Shares of NASDAQ RGNX opened at $8.38 on Wednesday. REGENXBIO has a 1-year low of $5.03 and a 1-year high of $16.19. The business has a fifty day moving average price of $9.53 and a 200 day moving average price of $11.37. The stock has a market capitalization of $432.49 million, a P/E ratio of -2.23 and a beta of 1.08.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Thursday, March 5th. The biotechnology company reported ($1.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.29). The company had revenue of $30.34 million during the quarter, compared to analysts’ expectations of $45.48 million. REGENXBIO had a negative net margin of 113.75% and a negative return on equity of 103.12%. As a group, equities research analysts anticipate that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Insider Buying and Selling at REGENXBIO

In related news, insider Steve Pakola sold 5,124 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $10.35, for a total transaction of $53,033.40. Following the transaction, the insider directly owned 247,926 shares in the company, valued at $2,566,034.10. The trade was a 2.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.79% of the stock is owned by insiders.

Institutional Investors Weigh In On REGENXBIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGNX. AQR Capital Management LLC boosted its holdings in REGENXBIO by 2,247.7% in the first quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock worth $4,437,000 after acquiring an additional 594,161 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of REGENXBIO by 64.5% during the fourth 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. Invenomic Capital Management LP purchased a new position in shares of REGENXBIO in the 3rd quarter valued at approximately $4,120,000. Integral Health Asset Management LLC raised its position in shares of REGENXBIO by 57.1% in the 3rd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock valued at $10,615,000 after purchasing an additional 400,000 shares during the last quarter. Finally, State Street Corp boosted its stake in REGENXBIO by 15.2% in the 4th quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock worth $32,929,000 after purchasing an additional 301,858 shares in the last quarter. 88.08% of the stock is currently 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.