REGENXBIO’s (RGNX) “Buy” Rating Reiterated at Chardan Capital

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Chardan Capital in a note issued to investors on Monday,Benzinga reports. They presently have a $52.00 price objective on the biotechnology company’s stock. Chardan Capital’s price objective suggests a potential upside of 430.07% from the stock’s previous close.

RGNX has been the subject of a number of other reports. The Goldman Sachs Group reduced their target price on shares of REGENXBIO from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. HC Wainwright dropped their price target on REGENXBIO from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Leerink Partners set a $24.00 price objective on REGENXBIO in a research report on Tuesday, March 18th. Morgan Stanley lifted their target price on REGENXBIO from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, Wall Street Zen raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.63.

REGENXBIO Stock Up 2.9%

RGNX opened at $9.81 on Monday. REGENXBIO has a 52 week low of $5.04 and a 52 week high of $15.36. The business’s 50 day moving average is $8.21 and its two-hundred day moving average is $7.93. The firm has a market cap of $492.07 million, a price-to-earnings ratio of -1.95 and a beta of 1.09.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Monday, May 12th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.29). The business had revenue of $89.01 million during the quarter, compared to analyst estimates of $105.35 million. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. Equities analysts expect that REGENXBIO will post -4.84 EPS for the current fiscal year.

Insider Activity at REGENXBIO

In related news, Director Kenneth T. Mills sold 20,602 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $7.91, for a total transaction of $162,961.82. Following the transaction, the director now owns 475,103 shares of the company’s stock, valued at $3,758,064.73. This represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 bought and sold shares of the business. Y Intercept Hong Kong Ltd purchased a new position in shares of REGENXBIO in the 4th quarter valued at about $1,062,000. Raymond James Financial Inc. acquired a new position in REGENXBIO during the fourth quarter worth about $568,000. Teacher Retirement System of Texas lifted its position in shares of REGENXBIO by 19.9% during the 4th quarter. Teacher Retirement System of Texas now owns 12,590 shares of the biotechnology company’s stock valued at $97,000 after acquiring an additional 2,088 shares during the period. American Century Companies Inc. boosted its stake in shares of REGENXBIO by 8.8% during the 4th quarter. American Century Companies Inc. now owns 95,026 shares of the biotechnology company’s stock worth $735,000 after acquiring an additional 7,658 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of REGENXBIO in the 4th quarter worth approximately $106,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

About REGENXBIO

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company’s products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.