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

REGENXBIO (NASDAQ:RGNXGet Free Report)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $38.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 216.14% from the stock’s current price.

A number of other research analysts have also weighed in on RGNX. Royal Bank of Canada raised shares of REGENXBIO from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $20.00 to $35.00 in a research note on Friday, March 8th. Stifel Nicolaus reissued a “buy” rating and issued a $40.00 target price on shares of REGENXBIO in a research note on Friday, April 12th. Wedbush reissued a “neutral” rating and issued a $21.00 target price on shares of REGENXBIO in a research note on Wednesday, February 28th. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, SVB Leerink raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 target price on the stock in a research note on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.58.

Read Our Latest Stock Report on REGENXBIO

REGENXBIO Stock Performance

Shares of RGNX opened at $12.02 on Thursday. The business’s 50-day moving average is $15.06 and its two-hundred day moving average is $17.17. The company has a market capitalization of $592.06 million, a P/E ratio of -2.04 and a beta of 1.34. REGENXBIO has a fifty-two week low of $11.43 and a fifty-two week high of $28.80.

REGENXBIO (NASDAQ:RGNXGet Free Report) last posted its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.28) by ($0.10). The firm had revenue of $15.60 million for the quarter, compared to analysts’ expectations of $23.52 million. REGENXBIO had a negative return on equity of 70.72% and a negative net margin of 299.96%. The company’s revenue was down 18.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.53) earnings per share. Analysts forecast that REGENXBIO will post -3.9 EPS for the current year.

Insider Activity at REGENXBIO

In related news, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.81, for a total value of $237,150.00. Following the completion of the sale, the chief executive officer now owns 408,035 shares in the company, valued at approximately $6,451,033.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.13% of the stock is owned by insiders.

Hedge Funds Weigh In On REGENXBIO

Several institutional investors have recently modified their holdings of RGNX. PNC Financial Services Group Inc. grew its stake in shares of REGENXBIO by 73.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 746 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of REGENXBIO in the first quarter worth $56,000. Annandale Capital LLC acquired a new position in shares of REGENXBIO in the third quarter worth $60,000. Headlands Technologies LLC grew its stake in shares of REGENXBIO by 276.8% in the first quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock worth $81,000 after acquiring an additional 2,812 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of REGENXBIO by 352.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,093 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 3,968 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for REGENXBIO (NASDAQ:RGNX)

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