Regenxbio (RGNX) Given a $96.00 Price Target by Raymond James Analysts
Regenxbio (NASDAQ:RGNX) has been given a $96.00 target price by investment analysts at Raymond James in a research note issued on Thursday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Raymond James’ target price suggests a potential upside of 44.64% from the stock’s current price.
Several other research analysts have also weighed in on the company. TheStreet raised Regenxbio from a “d+” rating to a “c” rating in a research report on Monday, September 17th. Bank of America lowered Regenxbio from a “buy” rating to a “neutral” rating and increased their price objective for the company from $64.00 to $80.00 in a report on Monday, July 23rd. Barclays increased their price objective on Regenxbio from $48.00 to $83.00 and gave the company an “overweight” rating in a report on Monday, August 13th. Chardan Capital increased their price objective on Regenxbio from $90.00 to $130.00 and gave the company a “buy” rating in a report on Monday, July 16th. Finally, ValuEngine lowered Regenxbio from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 11th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Regenxbio has a consensus rating of “Buy” and a consensus target price of $84.07.
RGNX stock traded down $2.60 during mid-day trading on Thursday, hitting $66.37. The stock had a trading volume of 332,639 shares, compared to its average volume of 437,699. Regenxbio has a 1-year low of $23.25 and a 1-year high of $85.10. The firm has a market cap of $2.38 billion, a P/E ratio of -27.09, a PEG ratio of 14.80 and a beta of -0.49.
In other Regenxbio news, SVP Patrick J. Christmas sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $72.06, for a total value of $1,080,900.00. Following the sale, the senior vice president now owns 2,669 shares of the company’s stock, valued at approximately $192,328.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kenneth T. Mills sold 7,510 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $59.35, for a total value of $445,718.50. Following the completion of the sale, the chief executive officer now directly owns 331,710 shares in the company, valued at approximately $19,686,988.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 286,585 shares of company stock worth $18,814,681. 16.90% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Globeflex Capital L P grew its holdings in Regenxbio by 14.3% in the 3rd quarter. Globeflex Capital L P now owns 6,400 shares of the biotechnology company’s stock valued at $483,000 after buying an additional 800 shares during the last quarter. American International Group Inc. grew its holdings in Regenxbio by 12.7% in the 3rd quarter. American International Group Inc. now owns 24,589 shares of the biotechnology company’s stock valued at $1,856,000 after buying an additional 2,775 shares during the last quarter. BlackRock Inc. grew its holdings in Regenxbio by 12.1% in the 3rd quarter. BlackRock Inc. now owns 4,727,045 shares of the biotechnology company’s stock valued at $356,893,000 after buying an additional 508,632 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Regenxbio by 12.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 359,415 shares of the biotechnology company’s stock valued at $27,136,000 after buying an additional 40,085 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in Regenxbio in the 3rd quarter valued at approximately $212,000. 81.17% of the stock is currently owned by hedge funds and other institutional investors.
Regenxbio Company Profile
REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.
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