REGENXBIO (NASDAQ:RGNX) Hits New 1-Year High – What’s Next?

Shares of REGENXBIO Inc. (NASDAQ:RGNX) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $15.22 and last traded at $15.0050, with a volume of 71481 shares trading hands. The stock had previously closed at $14.59.

Analyst Ratings Changes

RGNX has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of REGENXBIO in a research report on Wednesday, October 8th. Stifel Nicolaus raised their target price on REGENXBIO from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday. Leerink Partners lifted their price target on REGENXBIO from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Royal Bank Of Canada increased their price objective on REGENXBIO from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Wall Street Zen raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Monday, November 24th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

REGENXBIO Stock Up 4.1%

The company’s 50-day simple moving average is $12.46 and its 200 day simple moving average is $10.24. The stock has a market capitalization of $769.17 million, a price-to-earnings ratio of -4.35 and a beta of 1.14.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.38) by $0.18. REGENXBIO had a negative return on equity of 78.29% and a negative net margin of 110.29%.The company had revenue of $29.73 million during the quarter, compared to the consensus estimate of $24.41 million. On average, equities analysts expect that REGENXBIO Inc. will post -4.84 earnings per share for the current fiscal year.

Insider Activity at REGENXBIO

In other news, CEO Curran Simpson sold 20,811 shares of REGENXBIO stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $12.62, for a total value of $262,634.82. Following the transaction, the chief executive officer owned 216,162 shares of the company’s stock, valued at $2,727,964.44. This trade represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of REGENXBIO by 16.3% in the first quarter. Vanguard Group Inc. now owns 3,472,988 shares of the biotechnology company’s stock valued at $24,832,000 after purchasing an additional 487,036 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in REGENXBIO by 4.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 366,549 shares of the biotechnology company’s stock valued at $2,621,000 after buying an additional 16,819 shares during the last quarter. Invesco Ltd. increased its position in REGENXBIO by 52.4% in the 1st quarter. Invesco Ltd. now owns 79,469 shares of the biotechnology company’s stock worth $568,000 after buying an additional 27,341 shares during the period. Nuveen LLC acquired a new position in shares of REGENXBIO during the first quarter worth approximately $892,000. Finally, American Century Companies Inc. lifted its holdings in shares of REGENXBIO by 6.9% during the first quarter. American Century Companies Inc. now owns 101,579 shares of the biotechnology company’s stock worth $726,000 after buying an additional 6,553 shares during the last quarter. 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.