Robert W. Baird Cuts REGENXBIO (NASDAQ:RGNX) Price Target to $29.00

REGENXBIO (NASDAQ:RGNX) had its target price trimmed by Robert W. Baird from $32.00 to $29.00 in a research note released on Tuesday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

A number of other analysts also recently issued reports on the company. HC Wainwright dropped their price target on REGENXBIO from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Bank of America decreased their price objective on shares of REGENXBIO from $25.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Wall Street Zen raised shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Morgan Stanley reiterated an “overweight” rating and set a $18.00 target price on shares of REGENXBIO in a research report on Friday, August 7th. Finally, Zacks Research raised shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, REGENXBIO presently has an average rating of “Moderate Buy” and an average target price of $23.27.

REGENXBIO Stock Performance

Shares of RGNX stock opened at $9.37 on Tuesday. The company has a market capitalization of $618.51 million, a PE ratio of -2.47 and a beta of 0.94. REGENXBIO has a 52-week low of $5.45 and a 52-week high of $16.19. The business’s fifty day moving average is $11.03 and its 200 day moving average is $9.20.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Thursday, August 6th. The biotechnology company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.08 by $0.35. The business had revenue of $108.02 million during the quarter, compared to analysts’ expectations of $97.63 million. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%. On average, sell-side analysts forecast that REGENXBIO will post -3.91 EPS for the current fiscal year.

Insider Transactions at REGENXBIO

In other REGENXBIO news, insider Steve Pakola sold 2,161 shares of REGENXBIO stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $13.64, for a total transaction of $29,476.04. Following the completion of the sale, the insider owned 213,009 shares of the company’s stock, valued at $2,905,442.76. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 58,494 shares of company stock worth $718,232 over the last three months. Insiders own 14.22% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Several institutional investors have recently modified their holdings of RGNX. Walleye Capital LLC bought a new stake in REGENXBIO in the 2nd quarter worth approximately $2,441,000. Propel Bio Management LLC purchased a new stake in REGENXBIO in the fourth quarter worth approximately $1,683,000. Dimensional Fund Advisors LP grew its position in REGENXBIO by 11.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,010,381 shares of the biotechnology company’s stock valued at $8,464,000 after acquiring an additional 106,530 shares during the last quarter. Royce & Associates LP bought a new position in REGENXBIO during the fourth quarter valued at approximately $1,714,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of REGENXBIO during the first quarter worth approximately $2,305,000. 88.08% of the stock is currently owned by institutional investors.

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.