REGENXBIO Inc. (NASDAQ:RGNX) Receives Average Recommendation of “Moderate Buy” from Brokerages

REGENXBIO Inc. (NASDAQ:RGNX) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $38.45.

Several equities analysts recently weighed in on the stock. Raymond James restated an “outperform” rating and issued a $45.00 price objective on shares of REGENXBIO in a report on Wednesday, February 21st. Royal Bank of Canada upgraded REGENXBIO from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $20.00 to $35.00 in a report on Friday, March 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $40.00 price target on shares of REGENXBIO in a research note on Friday, April 12th. HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of REGENXBIO in a research note on Monday, March 11th. Finally, Barclays upped their target price on shares of REGENXBIO from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th.

REGENXBIO Stock Performance

NASDAQ RGNX opened at $16.96 on Wednesday. The stock has a market capitalization of $831.72 million, a P/E ratio of -2.81 and a beta of 1.38. REGENXBIO has a 52 week low of $11.83 and a 52 week high of $28.80. The stock has a fifty day moving average of $19.57 and a 200-day moving average of $17.87.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.16). REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The firm had revenue of $22.30 million during the quarter, compared to analyst estimates of $34.01 million. During the same quarter in the previous year, the business earned ($1.38) earnings per share. REGENXBIO’s revenue for the quarter was down 28.8% compared to the same quarter last year. Equities research analysts forecast that REGENXBIO will post -3.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other REGENXBIO news, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total value of $251,400.00. Following the sale, the chief executive officer now owns 408,035 shares of the company’s stock, valued at approximately $6,838,666.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total transaction of $251,400.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at approximately $6,838,666.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steve Pakola sold 12,878 shares of REGENXBIO stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total transaction of $365,220.08. Following the completion of the sale, the insider now owns 107,192 shares in the company, valued at $3,039,965.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,878 shares of company stock valued at $1,217,370. Company insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

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