Brokerages Set REGENXBIO Inc. (NASDAQ:RGNX) Target Price at $23.27

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have earned an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $23.2727.

A number of equities analysts have recently issued reports on RGNX shares. Weiss Ratings restated a “sell (e+)” rating on shares of REGENXBIO in a research report on Monday, June 8th. Zacks Research upgraded shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Bank of America lowered their target price on shares of REGENXBIO from $25.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $18.00 price target on shares of REGENXBIO in a research report on Friday, August 7th.

REGENXBIO Stock Down 1.7%

Shares of RGNX stock opened at $9.50 on Friday. REGENXBIO has a twelve month low of $5.45 and a twelve month high of $16.19. The company has a market cap of $627.10 million, a P/E ratio of -2.51 and a beta of 0.94. The business has a fifty day simple moving average of $11.08 and a 200 day simple moving average of $9.20.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.08 by $0.35. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. The business had revenue of $108.02 million during the quarter, compared to the consensus estimate of $97.63 million. As a group, equities research analysts anticipate that REGENXBIO will post -3.91 earnings per share for the current fiscal year.

Insider Activity at REGENXBIO

In related news, insider Steve Pakola sold 2,161 shares of the company’s 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 sale, the insider owned 213,009 shares in the company, valued at $2,905,442.76. This represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 58,494 shares of company stock worth $718,232. 14.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On REGENXBIO

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of REGENXBIO during the 2nd quarter worth approximately $76,641,000. Vanguard Group Inc. boosted its stake in REGENXBIO by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 3,374,140 shares of the biotechnology company’s stock worth $48,588,000 after acquiring an additional 36,042 shares in the last quarter. State Street Corp boosted its stake in REGENXBIO by 15.2% during the fourth quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock worth $32,929,000 after acquiring an additional 301,858 shares in the last quarter. AQR Capital Management LLC grew its holdings in REGENXBIO by 5.6% in the fourth quarter. AQR Capital Management LLC now owns 1,361,962 shares of the biotechnology company’s stock worth $19,612,000 after purchasing an additional 72,307 shares during the period. Finally, Integral Health Asset Management LLC increased its stake in REGENXBIO by 9.1% in the fourth quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the biotechnology company’s stock valued at $17,280,000 after purchasing an additional 100,000 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

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.