REGENXBIO Inc. (NASDAQ:RGNX) Receives Consensus Rating of “Moderate Buy” from Brokerages

REGENXBIO Inc. (NASDAQ:RGNX) has received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $23.9091.

Several research analysts have commented on RGNX shares. UBS Group reaffirmed an “overweight” rating and set a $18.00 price objective on shares of REGENXBIO in a research note on Tuesday, February 10th. The Goldman Sachs Group dropped their price objective on shares of REGENXBIO from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, February 10th. Wall Street Zen lowered shares of REGENXBIO from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Robert W. Baird set a $27.00 price objective on shares of REGENXBIO in a research note on Tuesday, February 10th. Finally, Barclays lowered their target price on shares of REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 15th.

REGENXBIO Stock Performance

Shares of RGNX opened at $6.35 on Thursday. The company’s fifty day moving average is $8.47 and its 200 day moving average is $10.70. REGENXBIO has a fifty-two week low of $5.45 and a fifty-two week high of $16.19. The stock has a market capitalization of $328.30 million, a PE ratio of -1.13 and a beta of 1.12.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.36). REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%.The business had revenue of $6.39 million during the quarter, compared to the consensus estimate of $25.84 million. As a group, research analysts forecast that REGENXBIO will post -3.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Steve Pakola sold 15,309 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $11.02, for a total value of $168,705.18. Following the completion of the sale, the insider directly owned 232,617 shares of the company’s stock, valued at $2,563,439.34. This represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 14.22% of the stock is currently owned by company insiders.

Institutional Trading of REGENXBIO

A number of hedge funds have recently added to or reduced their stakes in RGNX. JPMorgan Chase & Co. raised its holdings in REGENXBIO by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company’s stock worth $38,959,000 after purchasing an additional 185,223 shares in the last quarter. Vanguard Group Inc. raised its holdings in REGENXBIO by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,374,140 shares of the biotechnology company’s stock worth $48,588,000 after purchasing an additional 36,042 shares in the last quarter. State Street Corp raised its holdings in REGENXBIO by 15.2% in the fourth quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock worth $32,929,000 after purchasing an additional 301,858 shares in the last quarter. AQR Capital Management LLC raised 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 in the last quarter. Finally, Integral Health Asset Management LLC raised its holdings 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 worth $17,280,000 after purchasing an additional 100,000 shares in the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

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.