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

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been given a consensus rating of “Moderate Buy” by the thirteen research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $23.7273.

Several brokerages recently weighed in on RGNX. Weiss Ratings reiterated a “sell (e+)” rating on shares of REGENXBIO in a research report on Monday, June 8th. Bank of America reduced their target price on REGENXBIO from $25.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Leerink Partners upped their price target on REGENXBIO from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Barclays cut REGENXBIO from an “overweight” rating to a “hold” rating in a report on Friday. Finally, Robert W. Baird raised their price objective on REGENXBIO from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd.

Insider Buying and Selling at REGENXBIO

In other news, insider Steve Pakola sold 2,161 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total value of $29,476.04. Following the sale, the insider directly owned 213,009 shares of the company’s stock, valued at approximately $2,905,442.76. The trade was a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 58,494 shares of company stock worth $718,232 in the last ninety days. 14.22% of the stock is owned by company insiders.

Institutional Trading of REGENXBIO

Institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its position in REGENXBIO by 60.4% in the second quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 1,032 shares during the period. Aquatic Capital Management LLC acquired a new stake in REGENXBIO during the 3rd quarter worth approximately $37,000. Captrust Financial Advisors purchased a new position in REGENXBIO in the 2nd quarter valued at approximately $85,000. Entropy Technologies LP purchased a new position in REGENXBIO in the 1st quarter valued at approximately $87,000. Finally, Prudential Financial Inc. acquired a new position in shares of REGENXBIO in the second quarter worth $87,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Price Performance

NASDAQ:RGNX opened at $10.42 on Tuesday. The firm has a market capitalization of $538.71 million, a price-to-earnings ratio of -2.75 and a beta of 0.94. The company’s 50-day moving average is $10.08 and its two-hundred day moving average is $9.37. REGENXBIO has a 1-year low of $5.45 and a 1-year high of $16.19.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.35. The business had revenue of $108.02 million during the quarter, compared to analysts’ expectations of $97.63 million. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. As a group, equities analysts anticipate that REGENXBIO will post -3.96 earnings per share for the current fiscal year.

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.