REGENXBIO (NASDAQ:RGNX) Shares Gap Up to $11.88

Shares of REGENXBIO Inc. (NASDAQ:RGNX) gapped up before the market opened on Friday . The stock had previously closed at $11.88, but opened at $12.29. REGENXBIO shares last traded at $12.69, with a volume of 19,920 shares traded.

Analyst Upgrades and Downgrades

RGNX has been the subject of several research reports. SVB Leerink upgraded shares of REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 price target for the company in a report on Wednesday, March 6th. Leerink Partnrs upgraded shares of REGENXBIO from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 6th. Royal Bank of Canada raised shares of REGENXBIO from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $20.00 to $35.00 in a research report on Friday, March 8th. Barclays raised their price objective on shares of REGENXBIO from $45.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of REGENXBIO in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.58.

REGENXBIO Stock Up 1.2 %

The stock has a fifty day moving average of $15.06 and a 200-day moving average of $17.15. The firm has a market capitalization of $592.11 million, a P/E ratio of -2.04 and a beta of 1.34.

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

Insider Activity at REGENXBIO

In related news, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $15.81, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.13% of the stock is owned by insiders.

Hedge Funds Weigh In On REGENXBIO

A number of large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of REGENXBIO by 73.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 746 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of REGENXBIO during the 1st quarter worth $56,000. Annandale Capital LLC acquired a new stake in shares of REGENXBIO during the 3rd quarter worth $60,000. Headlands Technologies LLC boosted its stake in REGENXBIO by 276.8% in the first quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock valued at $81,000 after buying an additional 2,812 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in REGENXBIO by 352.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,093 shares of the biotechnology company’s stock valued at $91,000 after buying an additional 3,968 shares in the last quarter. 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.