HC Wainwright Reiterates Buy Rating for REGENXBIO (NASDAQ:RGNX)

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $34.00 price objective on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 218.05% from the stock’s previous close.

RGNX has been the topic of a number of other reports. Barclays dropped their price target on shares of REGENXBIO from $50.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Wall Street Zen lowered REGENXBIO from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. Royal Bank Of Canada lowered their target price on shares of REGENXBIO from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Chardan Capital reiterated a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a research report on Monday, September 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of REGENXBIO in a research report on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.38.

REGENXBIO Trading Up 2.5%

Shares of NASDAQ RGNX opened at $10.69 on Tuesday. The stock has a fifty day simple moving average of $9.03 and a two-hundred day simple moving average of $8.58. REGENXBIO has a 1-year low of $5.03 and a 1-year high of $12.22. The firm has a market cap of $539.99 million, a price-to-earnings ratio of -3.11 and a beta of 1.17.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.25). REGENXBIO had a negative net margin of 112.70% and a negative return on equity of 66.95%. The firm had revenue of $21.36 million for the quarter, compared to analysts’ expectations of $40.87 million. Analysts forecast that REGENXBIO will post -4.84 EPS for the current year.

Insider Buying and Selling

In other REGENXBIO news, CEO Curran Simpson sold 7,624 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $10.03, for a total value of $76,468.72. Following the transaction, the chief executive officer directly owned 236,973 shares of the company’s stock, valued at approximately $2,376,839.19. This trade represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.79% of the company’s stock.

Institutional Trading of REGENXBIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new stake in REGENXBIO during the first quarter valued at about $484,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of REGENXBIO in the first quarter worth $123,000. Acadian Asset Management LLC bought a new position in shares of REGENXBIO during the 1st quarter valued at about $1,123,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of REGENXBIO by 9.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,183 shares of the biotechnology company’s stock valued at $558,000 after purchasing an additional 6,105 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in REGENXBIO by 372.1% during the first quarter. GAMMA Investing LLC now owns 16,188 shares of the biotechnology company’s stock valued at $116,000 after buying an additional 12,759 shares during the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

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.