REGENXBIO (NASDAQ:RGNX) Stock Breaks Above 50-Day Moving Average – Time to Sell?

REGENXBIO Inc. (NASDAQ:RGNX) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $7.77 and traded as high as $8.23. REGENXBIO shares last traded at $8.07, with a volume of 2,174,000 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating on shares of REGENXBIO in a research note on Monday, September 28th. Mizuho set a $18.00 target price on REGENXBIO in a research report on Friday. Barclays lowered REGENXBIO from an “overweight” rating to a “hold” rating in a research note on Friday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of REGENXBIO in a report on Friday, September 4th. Finally, Wall Street Zen cut REGENXBIO from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.18.

REGENXBIO Price Performance

The stock has a market cap of $532.70 million, a price-to-earnings ratio of -2.51 and a beta of 1.24. The firm’s fifty day moving average price is $7.77 and its two-hundred day moving average price is $9.02.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, November 5th. The biotechnology company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.67. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%. The company had revenue of $9.16 million during the quarter, compared to the consensus estimate of $10.89 million. On average, equities research analysts anticipate that REGENXBIO Inc. will post -3.26 earnings per share for the current year.

Institutional Investors Weigh In On REGENXBIO

Hedge funds and other institutional investors have recently modified their holdings of the company. Walleye Capital LLC bought a new position in shares of REGENXBIO in the 2nd quarter worth $2,441,000. Bank of America Corp DE bought a new stake in REGENXBIO during the 2nd quarter valued at $6,212,000. Bank of New York Mellon Corp bought a new stake in REGENXBIO during the 2nd quarter valued at $1,608,000. Dimensional Fund Advisors LP increased its stake in REGENXBIO by 11.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,010,381 shares of the biotechnology company’s stock valued at $8,464,000 after purchasing an additional 106,530 shares in the last quarter. Finally, Ieq Capital LLC acquired a new position in REGENXBIO during the second quarter worth $1,695,000. Institutional investors own 88.08% of the company’s stock.

REGENXBIO Company Profile

REGENXBIO Inc (NASDAQ: RGNX) is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases. The company’s programs use adeno-associated virus (AAV) vectors to deliver genetic material to targeted cells, with the goal of addressing the underlying causes of disease rather than primarily treating symptoms.

REGENXBIO’s technology is built around its NAV AAV Technology Platform, which supports the design and development of gene-delivery vectors. Its pipeline has included investigational therapies for conditions such as Duchenne muscular dystrophy, Hunter syndrome, age-related macular degeneration and other rare diseases.