REGENXBIO (NASDAQ:RGNX) Shares Gap Up – Here’s What Happened

REGENXBIO Inc. (NASDAQ:RGNX) gapped up prior to trading on Monday . The stock had previously closed at $14.59, but opened at $15.47. REGENXBIO shares last traded at $15.3530, with a volume of 196,088 shares changing hands.

Analyst Upgrades and Downgrades

RGNX has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of REGENXBIO in a research report on Wednesday, October 8th. Stifel Nicolaus increased their target price on REGENXBIO from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 19th. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price target on shares of REGENXBIO in a research note on Tuesday, October 7th. Royal Bank Of Canada boosted their price target on REGENXBIO from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, Leerink Partners raised their price objective on REGENXBIO from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, REGENXBIO has an average rating of “Moderate Buy” and an average target price of $30.00.

REGENXBIO Stock Up 4.9%

The firm has a market capitalization of $774.79 million, a PE ratio of -4.40 and a beta of 1.07. The business has a 50-day moving average price of $13.02 and a 200-day moving average price of $10.81.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts anticipate that REGENXBIO Inc. will post -4.84 earnings per share for the current year.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC grew its stake in shares of REGENXBIO by 2,247.7% in the first quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock valued at $4,437,000 after buying an additional 594,161 shares in the last quarter. Jane Street Group LLC lifted its position in shares of REGENXBIO by 151.1% during the first quarter. Jane Street Group LLC now owns 414,067 shares of the biotechnology company’s stock worth $2,961,000 after purchasing an additional 249,156 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of REGENXBIO in the first quarter valued at approximately $1,123,000. Pallas Capital Advisors LLC grew its holdings in shares of REGENXBIO by 67.1% in the second quarter. Pallas Capital Advisors LLC now owns 17,407 shares of the biotechnology company’s stock valued at $143,000 after purchasing an additional 6,992 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of REGENXBIO by 78.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,630 shares of the biotechnology company’s stock valued at $268,000 after purchasing an additional 13,458 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.