REGENXBIO (NASDAQ:RGNX) Reaches New 12-Month High – What’s Next?

Shares of REGENXBIO Inc. (NASDAQ:RGNX) hit a new 52-week high on Thursday . The company traded as high as $15.98 and last traded at $15.9540, with a volume of 212639 shares trading hands. The stock had previously closed at $15.02.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $34.00 target price on shares of REGENXBIO in a report on Tuesday, October 7th. Stifel Nicolaus lifted their price objective on shares of REGENXBIO from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Wall Street Zen raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Monday, November 24th. Leerink Partners raised 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, December 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of REGENXBIO in a report on Thursday. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

REGENXBIO Stock Down 13.7%

The business’s 50-day simple moving average is $13.62 and its two-hundred day simple moving average is $11.19. The firm has a market cap of $698.09 million, a price-to-earnings ratio of -3.97 and a beta of 1.07.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $29.73 million during the quarter, compared to analysts’ expectations of $24.41 million. On average, analysts expect that REGENXBIO Inc. will post -4.84 earnings per share for the current year.

Institutional Investors Weigh In On REGENXBIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp raised its position in shares of REGENXBIO by 44.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock worth $40,000 after buying an additional 1,270 shares during the period. Profund Advisors LLC grew its position in REGENXBIO by 11.8% during the third quarter. Profund Advisors LLC now owns 14,444 shares of the biotechnology company’s stock valued at $139,000 after acquiring an additional 1,523 shares during the period. Pale Fire Capital SE increased its stake in REGENXBIO by 7.7% during the second quarter. Pale Fire Capital SE now owns 27,846 shares of the biotechnology company’s stock worth $229,000 after acquiring an additional 2,000 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of REGENXBIO in the 3rd quarter worth about $25,000. Finally, Diversified Trust Co. lifted its stake in shares of REGENXBIO by 24.3% in the 4th quarter. Diversified Trust Co. now owns 13,378 shares of the biotechnology company’s stock valued at $193,000 after purchasing an additional 2,615 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.