REGENXBIO Inc. (NASDAQ:RGNX) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $23.27.

RGNX has been the subject of a number of analyst reports. Robert W. Baird reduced their price objective on shares of REGENXBIO from $32.00 to $29.00 and set an “outperform” rating for the company in a research note on Tuesday, August 25th. Leerink Partners lifted their target price on shares of REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Barclays lowered shares of REGENXBIO from an “overweight” rating to a “hold” rating in a research report on Friday, August 7th. Morgan Stanley restated an “overweight” rating and set a $18.00 price target on shares of REGENXBIO in a report on Friday, August 7th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of REGENXBIO in a research report on Monday.

Insiders Place Their Bets

In related news, insider Steve Pakola sold 2,161 shares of the stock in a transaction that occurred on 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 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 through this link. 14.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RGNX. BlackRock Inc. bought a new stake in shares of REGENXBIO in the second quarter valued at approximately $76,641,000. Dimensional Fund Advisors LP raised its stake in REGENXBIO by 11.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,010,381 shares of the biotechnology company’s stock valued at $8,464,000 after purchasing an additional 106,530 shares during the last quarter. Bank of America Corp DE acquired a new position in REGENXBIO during the 2nd quarter valued at $6,212,000. Corient Private Wealth LP bought a new stake in REGENXBIO in the 2nd quarter valued at $2,608,000. Finally, Deutsche Bank AG bought a new stake in REGENXBIO in the 2nd quarter valued at $2,490,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

REGENXBIO Price Performance

NASDAQ RGNX opened at $7.45 on Wednesday. The firm has a market cap of $491.77 million, a P/E ratio of -1.97 and a beta of 0.94. The stock’s 50-day moving average is $9.41 and its two-hundred day moving average is $9.15. REGENXBIO has a fifty-two week low of $5.45 and a fifty-two week high of $16.19.

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

About REGENXBIO

REGENXBIO Inc is a biotechnology company focused on developing gene therapies for serious diseases with limited treatment options. The company uses its proprietary NAV AAV Gene Delivery Platform to design adeno-associated virus (AAV) vectors intended to deliver therapeutic genes to targeted cells and tissues.

REGENXBIO’s pipeline has included investigational therapies for rare and genetic disorders, including Duchenne muscular dystrophy, Hunter syndrome, severe mucopolysaccharidosis type I, and homozygous familial hypercholesterolemia.