REGENXBIO Inc. (NASDAQ:RGNX) Receives $23.82 Average Target Price from Brokerages

REGENXBIO Inc. (NASDAQ:RGNX) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $23.8182.

A number of research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $26.00 target price on shares of REGENXBIO in a research report on Wednesday, July 1st. Robert W. Baird increased their price objective on REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Morgan Stanley set a $16.00 target price on shares of REGENXBIO in a research report on Friday, May 15th. Barclays lowered their price objective on REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of REGENXBIO in a research note on Monday, June 8th.

REGENXBIO Stock Performance

RGNX opened at $12.29 on Friday. The firm has a market cap of $635.39 million, a P/E ratio of -2.19 and a beta of 0.90. REGENXBIO has a 52-week low of $5.45 and a 52-week high of $16.19. The business’s fifty day moving average is $9.05 and its 200-day moving average is $9.90.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) EPS for the quarter, missing the consensus estimate of ($1.36) by ($0.36). REGENXBIO had a negative net margin of 330.23% and a negative return on equity of 232.50%. The firm had revenue of $6.39 million during the quarter, compared to analyst estimates of $25.84 million. On average, research analysts predict that REGENXBIO will post -3.69 earnings per share for the current fiscal year.

Insider Buying and Selling at REGENXBIO

In other news, insider Steve Pakola sold 36,725 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $12.86, for a total transaction of $472,283.50. Following the transaction, the insider directly owned 213,009 shares of the company’s stock, valued at $2,739,295.74. This represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 73,803 shares of company stock worth $886,937 over the last quarter. 14.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors and hedge funds have recently made changes to their positions in RGNX. AQR Capital Management LLC raised its position in REGENXBIO by 2,247.7% in the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock valued at $4,437,000 after buying an additional 594,161 shares during the last quarter. Jane Street Group LLC lifted its stake in REGENXBIO by 151.1% in the first quarter. Jane Street Group LLC now owns 414,067 shares of the biotechnology company’s stock valued at $2,961,000 after purchasing an additional 249,156 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of REGENXBIO during the 2nd quarter worth $239,000. American Century Companies Inc. boosted its position in REGENXBIO by 8.4% during the second quarter. American Century Companies Inc. now owns 110,066 shares of the biotechnology company’s stock worth $904,000 after purchasing an additional 8,487 shares during the period. Finally, Prudential Financial Inc. bought a new position in REGENXBIO in the 2nd quarter worth approximately $87,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.