REGENXBIO (NASDAQ:RGNX) Stock Price Up 8% – Time to Buy?

Shares of REGENXBIO Inc. (NASDAQ:RGNX) were up 8% on Wednesday . The stock traded as high as $13.00 and last traded at $12.9360. 514,805 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 1,315,829 shares. The stock had previously closed at $11.98.

Wall Street Analysts Forecast Growth

RGNX has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price objective on REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Barclays lowered their target price on REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, May 15th. HC Wainwright reissued a “buy” rating and issued a $26.00 price target on shares of REGENXBIO in a research note on Wednesday. Bank of America cut their price target on REGENXBIO from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Finally, Leerink Partners raised their price objective on shares of REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.82.

REGENXBIO Trading Up 1.5%

The firm has a market cap of $686.58 million, a P/E ratio of -2.37 and a beta of 0.90. The company’s 50-day moving average is $8.21 and its two-hundred day moving average is $9.91.

REGENXBIO (NASDAQ:RGNX) last issued 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 company had revenue of $6.39 million for 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%. Research analysts anticipate that REGENXBIO Inc. will post -3.69 EPS for the current fiscal year.

Insider Transactions at REGENXBIO

In related news, insider Steve Pakola sold 36,725 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.86, for a total transaction of $472,283.50. Following the completion of the sale, the insider owned 213,009 shares in the company, valued at approximately $2,739,295.74. This represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 71,642 shares of company stock worth $857,461 in the last ninety days. Corporate insiders own 14.22% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Several large investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its stake in shares of REGENXBIO by 2,247.7% in the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock worth $4,437,000 after acquiring an additional 594,161 shares in the last quarter. Jane Street Group LLC boosted its holdings in 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 during the last quarter. Franklin Resources Inc. purchased a new position in REGENXBIO during the second quarter worth about $239,000. American Century Companies Inc. grew its position in REGENXBIO by 8.4% in the 2nd quarter. American Century Companies Inc. now owns 110,066 shares of the biotechnology company’s stock worth $904,000 after purchasing an additional 8,487 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in REGENXBIO in the 2nd quarter worth about $87,000. 88.08% of the stock is currently owned by institutional investors.

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.