REGENXBIO (NASDAQ:RGNX) Trading 8% Higher – What’s Next?

Shares of REGENXBIO Inc. (NASDAQ:RGNX) were up 8% on Wednesday . The stock traded as high as $13.00 and last traded at $12.9360. Approximately 514,805 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 1,315,829 shares. The stock had previously closed at $11.98.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays decreased their price target on REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, May 15th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 target price on shares of REGENXBIO in a research note on Wednesday. Bank of America lowered their target price on REGENXBIO from $25.00 to $14.00 and set a “buy” rating for the company in a report on Friday, May 15th. Robert W. Baird boosted their price target on REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Finally, Morgan Stanley set a $16.00 price objective on shares of REGENXBIO in a research report on Friday, May 15th. Ten equities research 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.82.

REGENXBIO Trading Up 10.6%

The firm’s 50-day moving average is $8.05 and its 200-day moving average is $9.91. The firm has a market cap of $685.13 million, a price-to-earnings ratio of -2.36 and a beta of 1.04.

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

Insider Activity

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

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in shares of REGENXBIO by 2,247.7% during the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock worth $4,437,000 after buying an additional 594,161 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of REGENXBIO by 64.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock valued at $16,709,000 after acquiring an additional 454,977 shares during the last quarter. Invenomic Capital Management LP bought a new stake in REGENXBIO during the third quarter worth $4,120,000. Integral Health Asset Management LLC boosted its position in REGENXBIO by 57.1% in the third quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $10,615,000 after purchasing an additional 400,000 shares during the last quarter. Finally, State Street Corp grew its stake in REGENXBIO by 15.2% in the 4th quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock valued at $32,929,000 after purchasing an additional 301,858 shares during the period. 88.08% of the stock is owned by institutional investors.

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.