REGENXBIO Inc. (NASDAQ:RGNX) Given Average Rating of “Moderate Buy” by Brokerages

REGENXBIO Inc. (NASDAQ:RGNX) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $38.64.

Several equities research analysts recently commented on RGNX shares. Raymond James reiterated an “outperform” rating and issued a $45.00 price objective on shares of REGENXBIO in a report on Wednesday, February 21st. Royal Bank of Canada upgraded REGENXBIO from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $20.00 to $35.00 in a research note on Friday, March 8th. Leerink Partnrs upgraded REGENXBIO from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 6th. Stifel Nicolaus restated a “buy” rating and set a $40.00 price target on shares of REGENXBIO in a research note on Friday, April 12th. Finally, StockNews.com downgraded REGENXBIO from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th.

Insider Activity at REGENXBIO

In related news, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $21.86, for a total transaction of $327,900.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at approximately $8,919,645.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $21.86, for a total value of $327,900.00. Following the transaction, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at approximately $8,919,645.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Steve Pakola sold 12,878 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the transaction, the insider now directly owns 107,192 shares in the company, valued at $3,039,965.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,878 shares of company stock worth $1,203,120. 13.13% of the stock is owned by company insiders.

Institutional Trading of REGENXBIO

Several hedge funds have recently modified their holdings of RGNX. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in REGENXBIO by 47.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,540 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 3,379 shares during the period. Teacher Retirement System of Texas raised its holdings in REGENXBIO by 9.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 10,950 shares of the biotechnology company’s stock valued at $180,000 after buying an additional 927 shares during the period. Principal Financial Group Inc. raised its holdings in REGENXBIO by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 238,350 shares of the biotechnology company’s stock valued at $3,923,000 after buying an additional 7,977 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in REGENXBIO by 6.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,539 shares of the biotechnology company’s stock valued at $239,000 after buying an additional 870 shares during the period. Finally, Arizona State Retirement System raised its holdings in REGENXBIO by 7.3% during the 3rd quarter. Arizona State Retirement System now owns 11,138 shares of the biotechnology company’s stock valued at $183,000 after buying an additional 761 shares during the period. 88.08% of the stock is owned by hedge funds and other institutional investors.

REGENXBIO Stock Performance

NASDAQ RGNX opened at $14.92 on Friday. REGENXBIO has a one year low of $11.83 and a one year high of $28.80. The stock has a 50-day moving average of $17.94 and a 200 day moving average of $17.90. The company has a market capitalization of $734.96 million, a price-to-earnings ratio of -2.54 and a beta of 1.38.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.28) by ($0.10). REGENXBIO had a negative return on equity of 70.72% and a negative net margin of 299.96%. The business had revenue of $15.60 million during the quarter, compared to the consensus estimate of $23.52 million. During the same quarter in the previous year, the business posted ($1.53) earnings per share. REGENXBIO’s quarterly revenue was down 18.3% compared to the same quarter last year. On average, equities analysts predict that REGENXBIO will post -4.02 earnings per share for the current fiscal year.

About REGENXBIO

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.