HC Wainwright Has Lowered Expectations for REGENXBIO (NASDAQ:RGNX) Stock Price

REGENXBIO (NASDAQ:RGNX) had its price target cut by analysts at HC Wainwright from $32.00 to $30.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 246.82% from the company’s previous close.

Other analysts also recently issued research reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of REGENXBIO in a report on Thursday, January 22nd. Leerink Partners lifted their target price on shares of REGENXBIO from $16.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, December 15th. Stifel Nicolaus boosted their price target on shares of REGENXBIO from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 19th. UBS Group restated an “overweight” rating and issued a $18.00 price target on shares of REGENXBIO in a research report on Tuesday, February 10th. Finally, Wall Street Zen lowered shares of REGENXBIO from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $27.50.

REGENXBIO Stock Down 0.8%

Shares of NASDAQ RGNX opened at $8.65 on Monday. The stock has a market capitalization of $446.43 million, a price-to-earnings ratio of -2.30 and a beta of 1.08. The stock’s fifty day simple moving average is $11.47 and its 200 day simple moving average is $11.44. REGENXBIO has a 52-week low of $5.03 and a 52-week high of $16.19.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Thursday, March 5th. The biotechnology company reported ($1.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.29). REGENXBIO had a negative return on equity of 103.12% and a negative net margin of 113.75%.The company had revenue of $30.34 million for the quarter, compared to analyst estimates of $45.48 million. As a group, analysts anticipate that REGENXBIO will post -4.84 earnings per share for the current year.

Hedge Funds Weigh In On REGENXBIO

Large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new stake in shares of REGENXBIO during the third quarter worth approximately $25,000. Aquatic Capital Management LLC acquired a new position in REGENXBIO in the 3rd quarter valued at approximately $37,000. Jones Financial Companies Lllp increased its stake in REGENXBIO by 44.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 1,270 shares during the period. Steward Partners Investment Advisory LLC lifted its position in REGENXBIO by 754.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company’s stock worth $46,000 after buying an additional 5,000 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in REGENXBIO in the 2nd quarter worth approximately $85,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

About REGENXBIO

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.