REGENXBIO (NASDAQ:RGNX) Trading 7.2% Higher – Time to Buy?

REGENXBIO Inc. (NASDAQ:RGNX) shares traded up 7.2% during trading on Tuesday . The stock traded as high as $9.73 and last traded at $9.72. Approximately 398,476 shares were traded during mid-day trading, a decline of 68% from the average session volume of 1,249,221 shares. The stock had previously closed at $9.07.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RGNX. Morgan Stanley set a $16.00 target price on shares of REGENXBIO in a research report on Friday, May 15th. HC Wainwright restated a “buy” rating and issued a $26.00 price target on shares of REGENXBIO in a research report on Wednesday. Leerink Partners raised their price objective on shares of REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday. Weiss Ratings reiterated a “sell (e+)” rating on shares of REGENXBIO in a research report on Monday, June 8th. Finally, Bank of America cut their target price on shares of REGENXBIO from $25.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Ten 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.82.

REGENXBIO Trading Up 0.2%

The business has a fifty day moving average price of $7.91 and a two-hundred day moving average price of $9.96. The company has a market cap of $515.45 million, a price-to-earnings ratio of -1.78 and a beta of 1.04.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.36). REGENXBIO had a negative net margin of 330.23% and a negative return on equity of 232.50%. The company had revenue of $6.39 million for the quarter, compared to analyst estimates of $25.84 million. On average, analysts anticipate that REGENXBIO Inc. will post -3.69 EPS for the current year.

Insider Buying and Selling at REGENXBIO

In other news, insider Steve Pakola sold 15,309 shares of REGENXBIO stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $11.02, for a total transaction of $168,705.18. Following the completion of the sale, the insider directly owned 232,617 shares in the company, valued at $2,563,439.34. The trade was a 6.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 14.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On REGENXBIO

A number of hedge funds have recently added to or reduced their stakes in RGNX. Aquatic Capital Management LLC bought a new stake in REGENXBIO in the third quarter worth $37,000. Entropy Technologies LP bought a new position in REGENXBIO during the first quarter valued at about $87,000. Captrust Financial Advisors acquired a new stake in shares of REGENXBIO in the second quarter worth about $85,000. Balyasny Asset Management L.P. acquired a new stake in shares of REGENXBIO in the fourth quarter worth about $150,000. Finally, Prudential Financial Inc. acquired a new stake in shares of REGENXBIO in the second quarter worth about $87,000. Institutional investors and hedge funds 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.