REGENXBIO Inc. (NASDAQ:RGNX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $35.45.

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Raymond James restated an “outperform” rating and issued a $18.00 price objective on shares of REGENXBIO in a report on Thursday, October 10th. Chardan Capital reiterated a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a report on Tuesday, October 22nd. HC Wainwright reissued a “buy” rating and set a $39.00 price target on shares of REGENXBIO in a research report on Wednesday, September 4th. Finally, Barclays lowered their price target on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th.

Insider Transactions at REGENXBIO

In related news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total value of $101,100.00. Following the sale, the director now owns 11,286 shares in the company, valued at approximately $114,101.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total value of $101,100.00. Following the transaction, the director now directly owns 11,286 shares in the company, valued at $114,101.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Argeris N. Karabelas sold 10,100 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $13.51, for a total transaction of $136,451.00. Following the completion of the transaction, the director now directly owns 11,286 shares in the company, valued at $152,473.86. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,200 shares of company stock worth $354,651. 13.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors have recently made changes to their positions in RGNX. Redmile Group LLC lifted its holdings in REGENXBIO by 21.0% during the 1st quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company’s stock worth $95,901,000 after purchasing an additional 790,866 shares during the last quarter. Assenagon Asset Management S.A. increased its position in REGENXBIO by 258.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 816,384 shares of the biotechnology company’s stock worth $9,552,000 after buying an additional 588,773 shares during the period. Vanguard Group Inc. increased its position in REGENXBIO by 9.8% during the 1st quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company’s stock worth $102,756,000 after buying an additional 436,043 shares during the period. Artal Group S.A. acquired a new stake in shares of REGENXBIO during the first quarter worth $5,268,000. Finally, Integral Health Asset Management LLC boosted its position in shares of REGENXBIO by 25.0% in the second quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company’s stock valued at $11,115,000 after acquiring an additional 190,000 shares during the period. Institutional investors own 88.08% of the company’s stock.

REGENXBIO Stock Performance

NASDAQ:RGNX opened at $9.06 on Wednesday. The company has a market cap of $446.26 million, a PE ratio of -1.54 and a beta of 1.21. The stock has a 50-day simple moving average of $10.98 and a 200 day simple moving average of $12.84. REGENXBIO has a 52-week low of $8.90 and a 52-week high of $28.80.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.24. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 68.21%. The company had revenue of $22.30 million during the quarter, compared to analysts’ expectations of $22.97 million. During the same period last year, the business earned ($1.66) EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts predict that REGENXBIO will post -4.66 earnings per share for the current fiscal year.

About REGENXBIO

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company’s products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.