REGENXBIO (NASDAQ:RGNX) Trading Up 8% – Still a Buy?

REGENXBIO Inc. (NASDAQ:RGNX) shares were up 8% on Wednesday . The stock traded as high as $13.00 and last traded at $12.9360. 514,805 shares traded hands during trading, a decline of 61% from the average daily volume of 1,315,829 shares. The stock had previously closed at $11.98.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley set a $16.00 price objective on shares of REGENXBIO in a research report on Friday, May 15th. Bank of America decreased their price target on shares of REGENXBIO from $25.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of REGENXBIO in a report on Monday, June 8th. Barclays decreased their target price on REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Finally, Robert W. Baird boosted their target price on REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.82.

REGENXBIO Stock Up 10.6%

The firm’s 50-day moving average price is $8.05 and its 200-day moving average price is $9.91. The company has a market cap of $685.13 million, a P/E ratio of -2.36 and a beta of 1.04.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Thursday, May 14th. The biotechnology company reported ($1.72) EPS for the quarter, missing the consensus estimate of ($1.36) by ($0.36). REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%.The business had revenue of $6.39 million during the quarter, compared to the consensus estimate of $25.84 million. As a group, analysts forecast that REGENXBIO Inc. will post -3.69 earnings per share for the current year.

Insider Activity at REGENXBIO

In other news, insider Steve Pakola sold 15,309 shares of REGENXBIO stock in a transaction on Monday, May 11th. The stock was sold at an average price of $11.02, for a total value of $168,705.18. Following the completion of the transaction, the insider directly owned 232,617 shares in the company, valued at approximately $2,563,439.34. The trade was a 6.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in REGENXBIO by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company’s stock valued at $38,959,000 after buying an additional 185,223 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of REGENXBIO by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,374,140 shares of the biotechnology company’s stock worth $48,588,000 after buying an additional 36,042 shares in the last quarter. State Street Corp lifted its holdings in shares of REGENXBIO by 15.2% in the fourth quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock worth $32,929,000 after buying an additional 301,858 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of REGENXBIO by 5.6% in the fourth quarter. AQR Capital Management LLC now owns 1,361,962 shares of the biotechnology company’s stock valued at $19,612,000 after acquiring an additional 72,307 shares during the period. Finally, Integral Health Asset Management LLC grew its stake in REGENXBIO by 9.1% during the fourth quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the biotechnology company’s stock valued at $17,280,000 after acquiring an additional 100,000 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

About REGENXBIO

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.