REGENXBIO (NASDAQ:RGNX) Receives Equal Weight Rating from Barclays

REGENXBIO (NASDAQ:RGNX)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Barclays in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $12.00 price target on the biotechnology company’s stock. Barclays‘s price objective points to a potential upside of 6.38% from the company’s current price.

RGNX has been the topic of several other reports. Robert W. Baird raised their target price on REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Leerink Partners boosted their price target on REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Bank of America decreased their price target on REGENXBIO from $25.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Morgan Stanley set a $16.00 price target on REGENXBIO in a report on Friday, May 15th. Finally, HC Wainwright restated a “buy” rating and set a $26.00 price objective on shares of REGENXBIO in a research note on Wednesday, July 1st. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, REGENXBIO currently has an average rating of “Moderate Buy” and an average price target of $23.82.

REGENXBIO Trading Up 7.4%

NASDAQ RGNX opened at $11.28 on Friday. The company has a 50-day moving average price of $9.94 and a two-hundred day moving average price of $9.42. REGENXBIO has a 52 week low of $5.45 and a 52 week high of $16.19. The stock has a market cap of $583.18 million, a price-to-earnings ratio of -2.01 and a beta of 0.94.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.35. The company had revenue of $108.02 million for the quarter, compared to analysts’ expectations of $97.63 million. REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%. As a group, equities research analysts expect that REGENXBIO will post -3.69 earnings per share for the current fiscal year.

Insider Transactions at REGENXBIO

In other REGENXBIO news, insider Steve Pakola sold 36,725 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.86, for a total value of $472,283.50. Following the transaction, the insider owned 213,009 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 73,803 shares of company stock valued at $886,937 in the last quarter. Insiders own 14.22% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Several large investors have recently modified their holdings of RGNX. Vanguard Group Inc. raised its position in shares of REGENXBIO by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 3,374,140 shares of the biotechnology company’s stock worth $48,588,000 after purchasing an additional 36,042 shares during the period. State Street Corp boosted its position in shares of REGENXBIO by 15.2% in the 4th quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock valued at $32,929,000 after purchasing an additional 301,858 shares during the period. AQR Capital Management LLC increased its stake in REGENXBIO by 5.6% in the 4th quarter. AQR Capital Management LLC now owns 1,361,962 shares of the biotechnology company’s stock worth $19,612,000 after purchasing an additional 72,307 shares in the last quarter. Integral Health Asset Management LLC increased its stake in REGENXBIO by 9.1% in the 4th quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the biotechnology company’s stock worth $17,280,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in REGENXBIO by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 1,145,206 shares of the biotechnology company’s stock worth $16,495,000 after buying an additional 19,658 shares during the period. 88.08% of the stock is owned by institutional investors.

REGENXBIO Company Profile

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.