REGENXBIO Inc. (NASDAQ:RGNX) Receives $23.27 Consensus Price Target from Brokerages

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $23.2727.

A number of research analysts have issued reports on the company. HC Wainwright decreased their target price on REGENXBIO from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, August 25th. Robert W. Baird lowered their price target on shares of REGENXBIO from $32.00 to $29.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of REGENXBIO in a research report on Monday, June 8th. Barclays downgraded REGENXBIO from an “overweight” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Leerink Partners lifted 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.

REGENXBIO Trading Up 3.0%

NASDAQ RGNX opened at $9.60 on Friday. The stock has a 50-day simple moving average of $11.06 and a 200 day simple moving average of $9.22. The company has a market capitalization of $633.70 million, a PE ratio of -2.53 and a beta of 0.94. REGENXBIO has a 12 month low of $5.45 and a 12 month high of $16.19.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.35. The firm had revenue of $108.02 million for the quarter, compared to analysts’ expectations of $97.63 million. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%. As a group, sell-side analysts predict that REGENXBIO will post -3.91 earnings per share for the current fiscal year.

Insider Activity

In related 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 value of $29,476.04. Following the transaction, the insider directly owned 213,009 shares in the company, valued at approximately $2,905,442.76. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 58,494 shares of company stock valued at $718,232 over the last three months. Insiders own 14.22% of the company’s stock.

Institutional Trading of REGENXBIO

Institutional investors have recently bought and sold shares of the business. Corient Private Wealth LP bought a new position in shares of REGENXBIO during the second quarter worth approximately $2,608,000. California State Teachers Retirement System boosted its stake in shares of REGENXBIO by 213.2% in the second quarter. California State Teachers Retirement System now owns 7,931 shares of the biotechnology company’s stock valued at $95,000 after buying an additional 5,399 shares during the period. AXQ Capital LP acquired a new stake in REGENXBIO during the second quarter worth approximately $221,000. Palogic Value Management L.P. acquired a new stake in REGENXBIO during the second quarter worth approximately $360,000. Finally, Bank of America Corp DE bought a new position in REGENXBIO during the 2nd quarter worth $6,212,000. 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.