Brokerages Set REGENXBIO Inc. (NASDAQ:RGNX) Target Price at $31.63

REGENXBIO Inc. (NASDAQ:RGNX) has received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $31.63.

RGNX has been the subject of a number of research reports. Chardan Capital reiterated a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research report on Monday. Morgan Stanley increased their target price on REGENXBIO from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Wall Street Zen upgraded REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Leerink Partners set a $24.00 price target on REGENXBIO in a report on Tuesday, March 18th. Finally, HC Wainwright decreased their price target on REGENXBIO from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, March 17th.

Insider Activity at REGENXBIO

In other REGENXBIO news, Director Kenneth T. Mills sold 20,602 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $7.91, for a total value of $162,961.82. Following the sale, the director now owns 475,103 shares in the company, valued at $3,758,064.73. This trade represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.79% of the stock is currently owned by insiders.

Institutional Trading of REGENXBIO

Hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC purchased a new stake in REGENXBIO in the first quarter worth $35,000. Brooklyn Investment Group increased its stake in REGENXBIO by 163.7% in the first quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 3,466 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in REGENXBIO in the fourth quarter worth $54,000. Dynamic Technology Lab Private Ltd purchased a new stake in REGENXBIO in the fourth quarter worth $79,000. Finally, Laurion Capital Management LP purchased a new stake in REGENXBIO in the fourth quarter worth $79,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

REGENXBIO Stock Performance

NASDAQ RGNX opened at $9.53 on Thursday. The company has a market capitalization of $478.02 million, a P/E ratio of -1.89 and a beta of 1.09. REGENXBIO has a one year low of $5.04 and a one year high of $15.36. The stock has a 50 day moving average price of $8.15 and a 200-day moving average price of $7.92.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Monday, May 12th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.29). The firm had revenue of $89.01 million for the quarter, compared to the consensus estimate of $105.35 million. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. As a group, equities analysts predict that REGENXBIO will post -4.84 EPS for the current fiscal year.

REGENXBIO Company Profile

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.