REGENXBIO Inc. (NASDAQ:RGNX) Receives $37.91 Consensus Target Price from Analysts

REGENXBIO Inc. (NASDAQ:RGNX) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $37.91.

A number of research analysts recently commented on RGNX shares. HC Wainwright reaffirmed a “buy” rating and issued a $39.00 target price on shares of REGENXBIO in a research report on Wednesday, September 4th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Barclays reduced their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, The Goldman Sachs Group began coverage on REGENXBIO in a research note on Friday, June 7th. They set a “buy” rating and a $38.00 price target on the stock.

REGENXBIO Price Performance

REGENXBIO stock opened at $11.40 on Tuesday. The stock has a market cap of $563.39 million, a PE ratio of -1.94 and a beta of 1.22. The stock’s fifty day moving average is $12.29 and its two-hundred day moving average is $15.45. REGENXBIO has a 1-year low of $10.49 and a 1-year high of $28.80.

REGENXBIO (NASDAQ:RGNX) last issued its 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. The business had revenue of $22.30 million for the quarter, compared to analyst estimates of $22.97 million. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned ($1.66) EPS. On average, research analysts expect that REGENXBIO will post -4.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $11.27, for a total value of $112,700.00. Following the transaction, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $127,193.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Kenneth T. Mills sold 2,210 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $13.77, for a total transaction of $30,431.70. Following the completion of the transaction, the director now directly owns 408,035 shares of the company’s stock, valued at approximately $5,618,641.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $11.27, for a total value of $112,700.00. Following the completion of the sale, the director now owns 11,286 shares in the company, valued at $127,193.22. The disclosure for this sale can be found here. Insiders sold a total of 65,279 shares of company stock valued at $875,634 over the last three months. 13.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On REGENXBIO

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 436,043 shares during the period. Redmile Group LLC increased its holdings in REGENXBIO by 21.0% in the first quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company’s stock valued at $95,901,000 after buying an additional 790,866 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of REGENXBIO by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,226,957 shares of the biotechnology company’s stock valued at $22,025,000 after acquiring an additional 34,385 shares during the period. Integral Health Asset Management LLC boosted its stake in shares of REGENXBIO by 25.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company’s stock worth $11,115,000 after acquiring an additional 190,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of REGENXBIO by 258.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 816,384 shares of the biotechnology company’s stock worth $9,552,000 after acquiring an additional 588,773 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.