REGENXBIO (NASDAQ:RGNX) Reaches New 52-Week High – Should You Buy?

REGENXBIO Inc. (NASDAQ:RGNX)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $13.99 and last traded at $13.5450, with a volume of 60963 shares traded. The stock had previously closed at $13.16.

Wall Street Analysts Forecast Growth

Several analysts have commented on RGNX shares. Royal Bank Of Canada lifted their price target on REGENXBIO from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Wall Street Zen raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Monday, November 24th. Chardan Capital restated a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of REGENXBIO in a research report on Wednesday, October 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $34.00 price target on shares of REGENXBIO in a research note on Tuesday, October 7th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, REGENXBIO has a consensus rating of “Moderate Buy” and an average price target of $28.63.

REGENXBIO Trading Up 1.3%

The firm has a market capitalization of $674.76 million, a price-to-earnings ratio of -3.85 and a beta of 1.14. The firm has a 50 day moving average price of $11.89 and a two-hundred day moving average price of $9.96.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.18. The firm had revenue of $29.73 million during the quarter, compared to the consensus estimate of $24.41 million. REGENXBIO had a negative net margin of 110.29% and a negative return on equity of 78.29%. As a group, research analysts forecast that REGENXBIO Inc. will post -4.84 earnings per share for the current year.

Insider Activity at REGENXBIO

In other news, CEO Curran Simpson sold 20,811 shares of the firm’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $12.62, for a total value of $262,634.82. Following the transaction, the chief executive officer owned 216,162 shares of the company’s stock, valued at approximately $2,727,964.44. This trade represents a 8.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 36,169 shares of company stock valued at $416,598. Company insiders own 12.79% of the company’s stock.

Institutional Trading of REGENXBIO

Several large investors have recently added to or reduced their stakes in RGNX. Jones Financial Companies Lllp raised its position in REGENXBIO by 44.4% in the third quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 1,270 shares during the period. Profund Advisors LLC boosted its position in shares of REGENXBIO by 11.8% in the third quarter. Profund Advisors LLC now owns 14,444 shares of the biotechnology company’s stock worth $139,000 after buying an additional 1,523 shares during the period. Pale Fire Capital SE grew its stake in shares of REGENXBIO by 7.7% in the second quarter. Pale Fire Capital SE now owns 27,846 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 2,000 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of REGENXBIO by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,756 shares of the biotechnology company’s stock valued at $198,000 after buying an additional 2,326 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of REGENXBIO during the 3rd quarter valued at about $25,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

REGENXBIO Company Profile

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.