Analysts Set REGENXBIO Inc. (NASDAQ:RGNX) Target Price at $23.82

REGENXBIO Inc. (NASDAQ:RGNX) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $23.8182.

Several analysts have issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of REGENXBIO in a research note on Monday, June 8th. Zacks Research cut REGENXBIO from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Bank of America reduced their price target on REGENXBIO from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Barclays decreased their price target on REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 15th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price objective on shares of REGENXBIO in a research report on Wednesday, July 1st.

REGENXBIO Stock Down 8.7%

RGNX stock opened at $11.20 on Friday. REGENXBIO has a twelve month low of $5.45 and a twelve month high of $16.19. The stock has a market capitalization of $579.04 million, a price-to-earnings ratio of -2.00 and a beta of 0.90. The firm’s fifty day simple moving average is $9.10 and its two-hundred day simple moving average is $9.87.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share (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 firm had revenue of $6.39 million during the quarter, compared to the consensus estimate of $25.84 million. As a group, equities research analysts expect that REGENXBIO will post -3.69 EPS for the current year.

Insider Activity at REGENXBIO

In other news, insider Steve Pakola sold 36,725 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $12.86, for a total value of $472,283.50. Following the transaction, the insider directly owned 213,009 shares in the company, valued at approximately $2,739,295.74. This represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 73,803 shares of company stock valued at $886,937 in the last quarter. Corporate insiders own 14.22% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in REGENXBIO by 2,247.7% in the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock worth $4,437,000 after acquiring an additional 594,161 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of REGENXBIO by 64.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock valued at $16,709,000 after acquiring an additional 454,977 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in shares of REGENXBIO in the third quarter valued at approximately $4,120,000. Integral Health Asset Management LLC boosted its holdings in shares of REGENXBIO by 57.1% in the third quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock valued at $10,615,000 after purchasing an additional 400,000 shares during the period. Finally, State Street Corp grew its stake in 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 purchasing an additional 301,858 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.