REGENXBIO (NASDAQ:RGNX) Trading 7.2% Higher – Should You Buy?

REGENXBIO Inc. (NASDAQ:RGNX)’s stock price shot up 7.2% during trading on Tuesday . The stock traded as high as $9.73 and last traded at $9.72. Approximately 398,476 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 1,249,221 shares. The stock had previously closed at $9.07.

Analysts Set New Price Targets

RGNX has been the topic of several analyst reports. Bank of America reduced their price objective on REGENXBIO from $25.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Morgan Stanley set a $16.00 target price on REGENXBIO in a research note on Friday, May 15th. Weiss Ratings restated a “sell (e+)” rating on shares of REGENXBIO in a report on Monday, June 8th. Barclays reduced their price target on REGENXBIO from $37.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Finally, HC Wainwright decreased their price objective on REGENXBIO from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.82.

REGENXBIO Trading Up 6.5%

The company’s 50 day moving average is $7.87 and its 200 day moving average is $10.00. The stock has a market capitalization of $499.25 million, a price-to-earnings ratio of -1.73 and a beta of 1.04.

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

Insider Activity at REGENXBIO

In other news, insider Steve Pakola sold 15,309 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 232,617 shares of the company’s stock, valued at approximately $2,563,439.34. The trade was a 6.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 14.22% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in REGENXBIO by 4.8% in the third 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 during the last quarter. Vanguard Group Inc. grew 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 acquiring an additional 36,042 shares during the last quarter. State Street Corp grew its position in shares of REGENXBIO by 15.2% during the fourth quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock worth $32,929,000 after acquiring an additional 301,858 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of REGENXBIO by 5.6% in the 4th 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 increased its holdings in shares of 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 valued at $17,280,000 after acquiring an additional 100,000 shares during the period. 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.