HC Wainwright Cuts REGENXBIO (NASDAQ:RGNX) Price Target to $21.00

REGENXBIO (NASDAQ:RGNXFree Report) had its price target decreased by HC Wainwright from $23.00 to $21.00 in a research report report published on Tuesday, MarketBeat.com reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

Several other analysts also recently issued reports on RGNX. Robert W. Baird reduced their price target on shares of REGENXBIO from $32.00 to $29.00 and set an “outperform” rating for the company in a research report on Tuesday. Morgan Stanley restated an “overweight” rating and set a $18.00 price objective on shares of REGENXBIO in a report on Friday, August 7th. Leerink Partners raised their price objective on shares of REGENXBIO from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Wall Street Zen raised shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Barclays lowered shares of REGENXBIO from an “overweight” rating to a “hold” rating in a report on Friday, August 7th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, REGENXBIO presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.27.

View Our Latest Report on REGENXBIO

REGENXBIO Stock Performance

RGNX stock opened at $9.37 on Tuesday. The stock’s 50 day simple moving average is $11.03 and its 200 day simple moving average is $9.20. REGENXBIO has a fifty-two week low of $5.45 and a fifty-two week high of $16.19. The company has a market cap of $618.51 million, a P/E ratio of -2.47 and a beta of 0.94.

REGENXBIO (NASDAQ:RGNXGet Free Report) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.35. The firm had revenue of $108.02 million during the quarter, compared to analysts’ expectations of $97.63 million. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%. Equities analysts predict that REGENXBIO will post -3.91 earnings per share for the current year.

Insiders Place Their Bets

In other REGENXBIO news, insider Steve Pakola sold 36,725 shares of REGENXBIO 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 directly owned 213,009 shares of the company’s stock, valued at $2,739,295.74. The trade was a 14.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 58,494 shares of company stock worth $718,232. 14.22% of the stock is currently owned by company insiders.

Institutional Trading of REGENXBIO

Several institutional investors and hedge funds have recently made changes to their positions in RGNX. Versant Capital Management Inc lifted its position in shares of REGENXBIO by 60.4% during the second quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 1,032 shares in the last quarter. Deutsche Bank AG grew its position in REGENXBIO by 0.8% in the 4th quarter. Deutsche Bank AG now owns 192,582 shares of the biotechnology company’s stock worth $2,773,000 after purchasing an additional 1,527 shares in the last quarter. Captrust Financial Advisors increased its stake in REGENXBIO by 13.2% in the 4th quarter. Captrust Financial Advisors now owns 15,228 shares of the biotechnology company’s stock valued at $219,000 after buying an additional 1,781 shares during the last quarter. Diversified Trust Co increased its stake in REGENXBIO by 15.9% in the 1st quarter. Diversified Trust Co now owns 15,499 shares of the biotechnology company’s stock valued at $130,000 after buying an additional 2,121 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in REGENXBIO by 12.2% in the 4th quarter. Intech Investment Management LLC now owns 21,367 shares of the biotechnology company’s stock valued at $308,000 after buying an additional 2,327 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

About REGENXBIO

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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.

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Analyst Recommendations for REGENXBIO (NASDAQ:RGNX)

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