REGENXBIO Inc. (NASDAQ:RGNX) Stock Has Average Target Price of $23.27

REGENXBIO Inc. (NASDAQ:RGNX) has been given an average recommendation of “Moderate Buy” by the thirteen research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $23.27.

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of REGENXBIO in a report on Friday, September 4th. Leerink Partners boosted their target price on REGENXBIO from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. HC Wainwright dropped their target price on REGENXBIO from $23.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, August 25th. Finally, Morgan Stanley restated an “overweight” rating and set a $18.00 price target on shares of REGENXBIO in a research report on Friday, August 7th.

REGENXBIO Stock Performance

Shares of RGNX opened at $7.40 on Wednesday. The firm has a market cap of $488.47 million, a price-to-earnings ratio of -1.95 and a beta of 0.94. REGENXBIO has a fifty-two week low of $5.45 and a fifty-two week high of $16.19. The firm has a 50 day moving average price of $9.53 and a 200-day moving average price of $9.19.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Thursday, August 6th. The biotechnology company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.08 by $0.35. The company had revenue of $108.02 million for the quarter, compared to analyst estimates of $97.63 million. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. As a group, equities research analysts predict that REGENXBIO will post -3.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Steve Pakola sold 2,161 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $13.64, for a total transaction of $29,476.04. Following the completion of the sale, the insider owned 213,009 shares of the company’s stock, valued at approximately $2,905,442.76. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 58,494 shares of company stock valued at $718,232 in the last ninety days. Insiders own 14.22% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGNX. Versant Capital Management Inc increased its position in shares of REGENXBIO by 60.4% in the second quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 1,032 shares during the period. Quantbot Technologies LP purchased a new stake in shares of REGENXBIO during the second quarter worth about $51,000. Legal & General Group Plc bought a new stake in shares of REGENXBIO in the second quarter worth about $56,000. Entropy Technologies LP bought a new stake in shares of REGENXBIO in the first quarter worth about $87,000. Finally, Diversified Trust Co increased its holdings in REGENXBIO by 15.9% during the 1st quarter. Diversified Trust Co now owns 15,499 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 2,121 shares during the period. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Company Profile

REGENXBIO Inc is a biotechnology company focused on developing gene therapies for serious diseases with limited treatment options. The company uses its proprietary NAV AAV Gene Delivery Platform to design adeno-associated virus (AAV) vectors intended to deliver therapeutic genes to targeted cells and tissues.

REGENXBIO’s pipeline has included investigational therapies for rare and genetic disorders, including Duchenne muscular dystrophy, Hunter syndrome, severe mucopolysaccharidosis type I, and homozygous familial hypercholesterolemia.