Analysts Set REGENXBIO Inc. (NASDAQ:RGNX) Target Price at $23.82

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $23.8182.

A number of research firms recently issued reports on RGNX. Zacks Research downgraded shares of REGENXBIO from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Bank of America lowered their target price 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 upped their price target on REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price target on shares of REGENXBIO in a research report on Wednesday, July 1st. Finally, Leerink Partners increased their price target on REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd.

Insider Transactions at REGENXBIO

In other REGENXBIO news, insider Steve Pakola sold 2,161 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total transaction of $29,476.04. Following the sale, the insider directly owned 213,009 shares of the company’s stock, valued at $2,905,442.76. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 73,803 shares of company stock valued at $886,937. Insiders own 14.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc boosted its holdings in shares of REGENXBIO by 60.4% in the second quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 1,032 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of REGENXBIO during the 3rd quarter valued at $37,000. Captrust Financial Advisors bought a new position in shares of REGENXBIO in the second quarter worth $85,000. Entropy Technologies LP bought a new position in shares of REGENXBIO in the first quarter worth $87,000. Finally, Prudential Financial Inc. purchased a new stake in shares of REGENXBIO in the 2nd quarter valued at about $87,000. 88.08% of the stock is owned by institutional investors.

REGENXBIO Price Performance

RGNX opened at $11.28 on Tuesday. The firm has a market capitalization of $583.18 million, a PE ratio of -2.01 and a beta of 0.94. REGENXBIO has a fifty-two week low of $5.45 and a fifty-two week high of $16.19. The company’s 50-day moving average is $9.94 and its 200 day moving average is $9.42.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.35. REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%.The company had revenue of $108.02 million for the quarter, compared to analyst estimates of $97.63 million. As a group, analysts expect that REGENXBIO will post -3.69 EPS 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.