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

REGENXBIO Inc. (NASDAQ:RGNX) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $23.8182.

A number of research analysts have commented on RGNX shares. Robert W. Baird boosted their target price on REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price target on shares of REGENXBIO in a research note on Wednesday, July 1st. Morgan Stanley set a $16.00 price target on REGENXBIO in a report on Friday, May 15th. Weiss Ratings restated a “sell (e+)” rating on shares of REGENXBIO in a report on Monday, June 8th. Finally, Barclays cut their price objective on shares of REGENXBIO from $37.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th.

Insider Activity at REGENXBIO

In other news, insider Steve Pakola sold 36,725 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $12.86, for a total transaction of $472,283.50. Following the transaction, the insider owned 213,009 shares in the company, valued at $2,739,295.74. This represents a 14.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 73,803 shares of company stock worth $886,937. Corporate insiders own 14.22% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

A number of large investors have recently bought and sold shares of RGNX. JPMorgan Chase & Co. raised its holdings in REGENXBIO by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company’s stock valued at $38,959,000 after buying an additional 185,223 shares in the last quarter. Invenomic Capital Management LP bought a new stake in shares of REGENXBIO during the 3rd quarter worth about $4,120,000. Assenagon Asset Management S.A. boosted its stake in shares of REGENXBIO by 64.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock worth $16,709,000 after acquiring an additional 454,977 shares in the last quarter. Integral Health Asset Management LLC increased its holdings in shares of 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 valued at $10,615,000 after acquiring an additional 400,000 shares during the last quarter. Finally, Royce & Associates LP acquired a new position in shares of REGENXBIO during the 4th quarter valued at about $1,714,000. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Stock Up 2.8%

REGENXBIO stock opened at $15.65 on Friday. The company’s fifty day simple moving average is $8.80 and its 200-day simple moving average is $9.94. REGENXBIO has a 12 month low of $5.45 and a 12 month high of $16.19. The stock has a market cap of $809.11 million, a P/E ratio of -2.79 and a beta of 0.90.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.36). REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%.The company had revenue of $6.39 million during the quarter, compared to analyst estimates of $25.84 million. On average, equities research analysts expect that REGENXBIO will post -3.69 earnings per share for the current fiscal 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.