REGENXBIO (NASDAQ:RGNX) Stock Price Up 7.2% – Should You Buy?

REGENXBIO Inc. (NASDAQ:RGNX) shares traded up 7.2% on Tuesday . The stock traded as high as $9.73 and last traded at $9.72. 398,476 shares were traded during trading, a decline of 68% from the average session volume of 1,249,221 shares. The stock had previously closed at $9.07.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Leerink Partners boosted their price objective on REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday. Robert W. Baird boosted their price target on REGENXBIO from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday. Barclays reduced their price objective on REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 15th. HC Wainwright lowered their target price on shares of REGENXBIO from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of REGENXBIO in a research report on Monday, June 8th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.82.

REGENXBIO Stock Performance

The business’s 50 day moving average price is $7.87 and its 200-day moving average price is $10.00. The firm has a market capitalization of $499.25 million, a PE ratio of -1.73 and a beta of 1.04.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings data 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 return on equity of 232.50% and a negative net margin of 330.23%.The company had revenue of $6.39 million during the quarter, compared to analyst estimates of $25.84 million. As a group, analysts anticipate that REGENXBIO Inc. will post -3.69 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On REGENXBIO

Several hedge funds have recently bought and sold shares of RGNX. AQR Capital Management LLC grew 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 acquiring an additional 594,161 shares in the last quarter. Jane Street Group LLC lifted its position in shares of REGENXBIO by 151.1% during the first quarter. Jane Street Group LLC now owns 414,067 shares of the biotechnology company’s stock worth $2,961,000 after purchasing an additional 249,156 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of REGENXBIO in the second quarter valued at approximately $239,000. American Century Companies Inc. boosted its stake in shares of REGENXBIO by 8.4% in the second quarter. American Century Companies Inc. now owns 110,066 shares of the biotechnology company’s stock valued at $904,000 after purchasing an additional 8,487 shares during the period. Finally, Prudential Financial Inc. acquired a new position in shares of REGENXBIO in the second quarter valued at 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.