REGENXBIO (NASDAQ:RGNX) Sets New 12-Month High – Time to Buy?

Shares of REGENXBIO Inc. (NASDAQ:RGNX) reached a new 52-week high on Monday . The company traded as high as $14.45 and last traded at $14.8530, with a volume of 2854 shares. The stock had previously closed at $13.87.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of REGENXBIO in a research note on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and set a $34.00 price target on shares of REGENXBIO in a research report on Tuesday, October 7th. Royal Bank Of Canada increased their price objective on shares of REGENXBIO from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Chardan Capital reaffirmed a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a research note on Thursday, November 20th. Finally, Leerink Partners lifted their target price on shares of REGENXBIO from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday. Six equities research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.13.

REGENXBIO Stock Performance

The business’s 50-day moving average is $12.34 and its two-hundred day moving average is $10.17. The firm has a market capitalization of $714.25 million, a price-to-earnings ratio of -4.07 and a beta of 1.14.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($1.20) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.18. REGENXBIO had a negative return on equity of 78.29% and a negative net margin of 110.29%.The business had revenue of $29.73 million for the quarter, compared to the consensus estimate of $24.41 million. Analysts forecast that REGENXBIO Inc. will post -4.84 EPS for the current year.

Insider Buying and Selling

In related news, CEO Curran Simpson sold 20,811 shares of the company’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 completion of the transaction, the chief executive officer directly owned 216,162 shares of the company’s stock, valued at approximately $2,727,964.44. This represents a 8.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.79% of the company’s stock.

Institutional Trading of REGENXBIO

Several hedge funds and other institutional investors have recently modified their holdings of RGNX. State of Alaska Department of Revenue acquired a new position in shares of REGENXBIO during the third quarter worth about $25,000. Aquatic Capital Management LLC bought a new stake in REGENXBIO in the 3rd quarter valued at approximately $37,000. Brooklyn Investment Group boosted its position in REGENXBIO by 163.7% during the 1st quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 3,466 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of REGENXBIO by 44.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 1,270 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of REGENXBIO by 754.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company’s stock worth $46,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds 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.