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

REGENXBIO Inc. (NASDAQ:RGNX) has received an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $38.58.

A number of equities analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of REGENXBIO from $34.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Tuesday. SVB Leerink upgraded REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 price objective for the company in a research report on Wednesday, March 6th. Raymond James reaffirmed an “outperform” rating and set a $45.00 target price on shares of REGENXBIO in a report on Wednesday, February 21st. Finally, Chardan Capital restated a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a research report on Thursday, March 7th.

Insider Buying and Selling

In related news, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.81, for a total transaction of $237,150.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at approximately $6,451,033.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 13.13% of the stock is owned by insiders.

Hedge Funds Weigh In On REGENXBIO

Hedge funds have recently made changes to their positions in the business. Redmile Group LLC grew its holdings in shares of REGENXBIO by 21.0% in the 1st quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company’s stock worth $95,901,000 after purchasing an additional 790,866 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of REGENXBIO by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company’s stock worth $102,756,000 after purchasing an additional 436,043 shares during the last quarter. Perceptive Advisors LLC bought a new stake in shares of REGENXBIO in the 4th quarter worth about $6,146,000. Artal Group S.A. bought a new stake in shares of REGENXBIO in the 1st quarter worth about $5,268,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of REGENXBIO by 113.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 227,611 shares of the biotechnology company’s stock worth $4,796,000 after purchasing an additional 120,929 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Stock Performance

NASDAQ RGNX opened at $12.21 on Thursday. REGENXBIO has a one year low of $11.56 and a one year high of $28.80. The company’s 50 day moving average price is $15.33 and its 200 day moving average price is $17.26. The firm has a market capitalization of $601.46 million, a price-to-earnings ratio of -2.08 and a beta of 1.34.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.10). REGENXBIO had a negative net margin of 299.96% and a negative return on equity of 70.72%. The firm had revenue of $15.60 million for the quarter, compared to analysts’ expectations of $23.52 million. During the same quarter in the prior year, the business earned ($1.53) EPS. The company’s revenue for the quarter was down 18.3% on a year-over-year basis. Sell-side analysts forecast that REGENXBIO will post -3.9 EPS for the current fiscal year.

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.