REGENXBIO Inc. (NASDAQ:RGNX) Receives $38.45 Average Price Target from Analysts

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have received a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $38.45.

Several research firms have recently commented on RGNX. Chardan Capital reaffirmed a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a report on Thursday, March 7th. Wedbush reiterated a “neutral” rating and set a $21.00 price objective on shares of REGENXBIO in a research note on Wednesday, February 28th. HC Wainwright restated a “buy” rating and issued a $36.00 target price on shares of REGENXBIO in a research note on Monday, March 11th. SVB Leerink raised REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 target price on the stock in a report on Wednesday, March 6th. Finally, Raymond James reissued an “outperform” rating and issued a $45.00 price target on shares of REGENXBIO in a report on Wednesday, February 21st.

Insider Activity at REGENXBIO

In other REGENXBIO news, insider Steve Pakola sold 12,878 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total transaction of $365,220.08. Following the transaction, the insider now directly owns 107,192 shares of the company’s stock, valued at $3,039,965.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $18.19, for a total value of $272,850.00. Following the sale, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at $7,422,156.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steve Pakola sold 12,878 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total value of $365,220.08. Following the sale, the insider now owns 107,192 shares of the company’s stock, valued at $3,039,965.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,878 shares of company stock valued at $1,217,370. 13.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On REGENXBIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position 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 valued at $32,000 after buying an additional 746 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of REGENXBIO by 7.3% in the third quarter. Arizona State Retirement System now owns 11,138 shares of the biotechnology company’s stock valued at $183,000 after purchasing an additional 761 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in REGENXBIO by 6.4% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,539 shares of the biotechnology company’s stock worth $239,000 after buying an additional 870 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in REGENXBIO by 9.2% during the third quarter. Teacher Retirement System of Texas now owns 10,950 shares of the biotechnology company’s stock worth $180,000 after buying an additional 927 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in REGENXBIO by 2.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 49,549 shares of the biotechnology company’s stock valued at $889,000 after buying an additional 990 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Stock Performance

Shares of RGNX opened at $16.83 on Wednesday. The stock has a 50-day moving average of $19.66 and a two-hundred day moving average of $17.86. The stock has a market cap of $825.34 million, a P/E ratio of -2.79 and a beta of 1.38. REGENXBIO has a one year low of $11.83 and a one year high of $28.80.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.16). REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The firm had revenue of $22.30 million for the quarter, compared to analyst estimates of $34.01 million. During the same period last year, the firm earned ($1.38) EPS. The company’s revenue for the quarter was down 28.8% compared to the same quarter last year. Analysts predict that REGENXBIO will post -3.98 EPS for the current fiscal year.

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.