REGENXBIO (NASDAQ:RGNX) Given New $26.00 Price Target at HC Wainwright

REGENXBIO (NASDAQ:RGNX) had its price objective dropped by equities research analysts at HC Wainwright from $30.00 to $26.00 in a report issued on Friday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 325.53% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Bank of America dropped 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. Robert W. Baird set a $27.00 target price on shares of REGENXBIO in a report on Tuesday, February 10th. Chardan Capital cut their price target 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. The Goldman Sachs Group reduced their price objective on shares of REGENXBIO from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, February 10th. Finally, Morgan Stanley set a $16.00 target price on REGENXBIO in a research note on Friday, May 15th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.55.

REGENXBIO Stock Performance

Shares of RGNX stock traded down $0.77 during trading hours on Friday, hitting $6.11. 817,230 shares of the company were exchanged, compared to its average volume of 1,123,939. The company has a 50 day simple moving average of $8.21 and a two-hundred day simple moving average of $10.44. The firm has a market cap of $315.87 million, a P/E ratio of -1.09 and a beta of 1.04. REGENXBIO has a fifty-two week low of $5.45 and a fifty-two week high of $16.19.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.36). REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%.The company had revenue of $6.39 million for the quarter, compared to the consensus estimate of $25.84 million. As a group, sell-side analysts expect that REGENXBIO will post -3.32 EPS for the current fiscal year.

Insider Activity at REGENXBIO

In other REGENXBIO news, insider Steve Pakola sold 15,309 shares of the stock in a transaction dated 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 $2,563,439.34. This represents a 6.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 14.22% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp raised its stake in REGENXBIO by 44.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 1,270 shares during the last quarter. Profund Advisors LLC lifted its stake in REGENXBIO by 11.8% in the 3rd quarter. Profund Advisors LLC now owns 14,444 shares of the biotechnology company’s stock valued at $139,000 after buying an additional 1,523 shares in the last quarter. Deutsche Bank AG increased its position in REGENXBIO by 0.8% during the fourth quarter. Deutsche Bank AG now owns 192,582 shares of the biotechnology company’s stock worth $2,773,000 after buying an additional 1,527 shares in the last quarter. Captrust Financial Advisors increased its position in REGENXBIO by 13.2% during the fourth quarter. Captrust Financial Advisors now owns 15,228 shares of the biotechnology company’s stock worth $219,000 after buying an additional 1,781 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in shares of REGENXBIO by 15.9% in the first quarter. Diversified Trust Co now owns 15,499 shares of the biotechnology company’s stock worth $130,000 after acquiring an additional 2,121 shares during 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.