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

REGENXBIO Inc. (NASDAQ:RGNX) has earned an average rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $31.63.

Several equities research analysts have recently commented on the stock. Chardan Capital reaffirmed a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a research report on Monday. The Goldman Sachs Group reduced their price target on shares of REGENXBIO from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. HC Wainwright cut their price objective on REGENXBIO from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Morgan Stanley boosted their price objective on REGENXBIO from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, Leerink Partners set a $24.00 price objective on REGENXBIO in a research note on Tuesday, March 18th.

Insider Activity at REGENXBIO

In other REGENXBIO news, Director Kenneth T. Mills sold 20,602 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $7.91, for a total value of $162,961.82. Following the completion of the transaction, the director now directly owns 475,103 shares in the company, valued at $3,758,064.73. This represents a 4.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RGNX. Y Intercept Hong Kong Ltd bought a new position in REGENXBIO in the 4th quarter worth approximately $1,062,000. Raymond James Financial Inc. bought a new position in REGENXBIO in the 4th quarter worth approximately $568,000. Teacher Retirement System of Texas boosted its stake in REGENXBIO by 19.9% in the 4th quarter. Teacher Retirement System of Texas now owns 12,590 shares of the biotechnology company’s stock worth $97,000 after purchasing an additional 2,088 shares during the period. American Century Companies Inc. boosted its stake in REGENXBIO by 8.8% in the 4th quarter. American Century Companies Inc. now owns 95,026 shares of the biotechnology company’s stock worth $735,000 after purchasing an additional 7,658 shares during the period. Finally, AXQ Capital LP bought a new position in REGENXBIO in the 4th quarter worth approximately $106,000. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Stock Down 0.8%

NASDAQ RGNX opened at $9.53 on Thursday. REGENXBIO has a 52 week low of $5.04 and a 52 week high of $15.36. The firm has a market capitalization of $478.02 million, a P/E ratio of -1.89 and a beta of 1.09. The company has a 50-day moving average price of $8.15 and a 200-day moving average price of $7.92.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Monday, May 12th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.29). REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. The business had revenue of $89.01 million for the quarter, compared to analysts’ expectations of $105.35 million. As a group, equities research analysts anticipate that REGENXBIO will post -4.84 EPS for the current 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.