REGENXBIO Inc. (NASDAQ:RGNX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

REGENXBIO Inc. (NASDAQ:RGNX) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $23.5455.

RGNX has been the subject of several analyst reports. Barclays decreased their price objective on shares of REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 15th. Bank of America reduced their target price on shares of REGENXBIO from $25.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of REGENXBIO in a research report on Monday, June 8th. Morgan Stanley set a $16.00 target price on shares of REGENXBIO in a research report on Friday, May 15th. Finally, HC Wainwright lowered their price objective on REGENXBIO from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, June 5th.

REGENXBIO Stock Performance

NASDAQ:RGNX opened at $7.80 on Monday. The firm has a market cap of $403.24 million, a price-to-earnings ratio of -1.39 and a beta of 1.04. REGENXBIO has a 52 week low of $5.45 and a 52 week high of $16.19. The firm has a 50-day moving average price of $7.86 and a two-hundred day moving average price of $10.04.

REGENXBIO (NASDAQ:RGNX) last posted 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). The firm had revenue of $6.39 million during the quarter, compared to analysts’ expectations of $25.84 million. REGENXBIO had a negative net margin of 330.23% and a negative return on equity of 232.50%. As a group, sell-side analysts forecast that REGENXBIO will post -3.69 earnings per share for the current year.

Insider Transactions at REGENXBIO

In related news, insider Steve Pakola sold 15,309 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $11.02, for a total value of $168,705.18. Following the sale, the insider directly owned 232,617 shares in the company, valued at approximately $2,563,439.34. The trade was a 6.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 14.22% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RGNX. AQR Capital Management LLC boosted its holdings 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 worth $4,437,000 after buying an additional 594,161 shares during the period. Assenagon Asset Management S.A. boosted its holdings in REGENXBIO by 64.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock worth $16,709,000 after buying an additional 454,977 shares during the period. Invenomic Capital Management LP bought a new position in REGENXBIO in the 3rd quarter worth approximately $4,120,000. Integral Health Asset Management LLC boosted its holdings in REGENXBIO by 57.1% in the 3rd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $10,615,000 after buying an additional 400,000 shares during the period. Finally, State Street Corp boosted its holdings in REGENXBIO by 15.2% in the 4th quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock worth $32,929,000 after buying 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.