REGENXBIO Inc. (NASDAQ:RGNX) Given Consensus Recommendation of “Moderate Buy” by Analysts

REGENXBIO Inc. (NASDAQ:RGNX) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $23.9091.

A number of equities analysts recently weighed in on the stock. Robert W. Baird set a $27.00 target price on shares of REGENXBIO in a report on Tuesday, February 10th. HC Wainwright lowered their target price on shares of REGENXBIO from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, March 9th. The Goldman Sachs Group lowered their target price on shares of REGENXBIO from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, February 10th. Chardan Capital lowered their target price on shares of REGENXBIO from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, UBS Group restated an “overweight” rating and set a $18.00 target price on shares of REGENXBIO in a report on Tuesday, February 10th.

Insiders Place Their Bets

In related news, insider Steve Pakola sold 15,309 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $11.02, for a total transaction of $168,705.18. Following the transaction, the insider directly owned 232,617 shares in the company, valued at approximately $2,563,439.34. The trade was a 6.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.22% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

A number of institutional investors have recently added to or reduced their stakes in RGNX. JPMorgan Chase & Co. lifted its position in REGENXBIO by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company’s stock worth $38,959,000 after purchasing an additional 185,223 shares during the period. Invenomic Capital Management LP acquired a new position in REGENXBIO during the third quarter worth about $4,120,000. Assenagon Asset Management S.A. raised its stake in 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 worth $16,709,000 after acquiring an additional 454,977 shares in the last quarter. Integral Health Asset Management LLC raised its stake in REGENXBIO by 57.1% during the third quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $10,615,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Diversified Trust Co. increased its stake in shares of REGENXBIO by 24.3% in the fourth quarter. Diversified Trust Co. now owns 13,378 shares of the biotechnology company’s stock valued at $193,000 after buying an additional 2,615 shares during the period. 88.08% of the stock is currently owned by institutional investors and hedge funds.

REGENXBIO Stock Performance

Shares of RGNX stock opened at $6.69 on Thursday. The company has a market capitalization of $345.87 million, a P/E ratio of -1.19 and a beta of 1.12. The company’s 50 day moving average price is $8.38 and its two-hundred day moving average price is $10.63. REGENXBIO has a 52 week low of $5.45 and a 52 week high of $16.19.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings data on Thursday, May 14th. The biotechnology company reported ($1.72) EPS for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.36). The business had revenue of $6.39 million during the quarter, compared to the consensus estimate of $25.84 million. REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%. Analysts forecast that REGENXBIO will post -3.32 earnings per share for the current year.

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.