REGENXBIO (NASDAQ:RGNX) Earns “Buy” Rating from Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a report issued on Friday morning, Benzinga reports. The brokerage currently has a $40.00 price objective on the biotechnology company’s stock.

RGNX has been the subject of a number of other reports. SVB Leerink raised REGENXBIO from a market perform rating to an outperform rating and set a $37.00 price objective for the company in a research note on Wednesday, March 6th. Robert W. Baird boosted their price target on shares of REGENXBIO from $34.00 to $39.00 and gave the stock an outperform rating in a research note on Wednesday, March 6th. Royal Bank of Canada raised shares of REGENXBIO from a sector perform rating to an outperform rating and raised their price objective for the company from $20.00 to $35.00 in a research note on Friday, March 8th. HC Wainwright reaffirmed a buy rating and set a $36.00 target price on shares of REGENXBIO in a research note on Monday, March 11th. Finally, Raymond James reissued an outperform rating and issued a $45.00 price target on shares of REGENXBIO in a research report on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $38.45.

REGENXBIO Trading Down 0.4 %

Shares of RGNX opened at $18.02 on Friday. The company’s 50-day moving average price is $19.90 and its 200 day moving average price is $17.85. REGENXBIO has a 12-month low of $11.83 and a 12-month high of $28.80. The firm has a market cap of $883.75 million, a P/E ratio of -2.99 and a beta of 1.29.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.16). The company had revenue of $22.30 million during the quarter, compared to analysts’ expectations of $34.01 million. REGENXBIO had a negative net margin of 291.99% and a negative return on equity of 68.18%. REGENXBIO’s revenue was down 28.8% on a year-over-year basis. During the same period last year, the firm posted ($1.38) earnings per share. Equities research analysts forecast that REGENXBIO will post -3.98 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total transaction of $251,400.00. Following the completion of the sale, the chief executive officer now owns 408,035 shares in the company, valued at $6,838,666.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total transaction of $251,400.00. Following the sale, the chief executive officer now owns 408,035 shares in the company, valued at $6,838,666.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steve Pakola sold 12,878 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the sale, the insider now directly owns 107,192 shares of the company’s stock, valued at $3,039,965.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,878 shares of company stock worth $944,520. Corporate insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

A number of hedge funds have recently modified their holdings of RGNX. Captrust Financial Advisors grew its position in REGENXBIO by 742.1% during the 1st quarter. Captrust Financial Advisors now owns 960 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 846 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of REGENXBIO by 73.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after buying an additional 746 shares during the period. Royal Bank of Canada grew its holdings in shares of REGENXBIO by 189.8% during the third quarter. Royal Bank of Canada now owns 1,397 shares of the biotechnology company’s stock worth $37,000 after buying an additional 915 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in REGENXBIO in the 4th quarter valued at about $38,000. Finally, Point72 Middle East FZE purchased a new stake in REGENXBIO during the 4th quarter valued at approximately $52,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

REGENXBIO Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company's products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.