REGENXBIO (NASDAQ:RGNX) Given Buy Rating at Chardan Capital

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating restated by Chardan Capital in a research report issued on Thursday,Benzinga reports. They currently have a $52.00 price objective on the biotechnology company’s stock. Chardan Capital’s price target points to a potential upside of 375.75% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Wall Street Zen downgraded REGENXBIO from a “hold” rating to a “sell” rating in a research note on Sunday. Royal Bank Of Canada lifted their target price on REGENXBIO from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Barclays lowered their price target on REGENXBIO from $50.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of REGENXBIO in a report on Wednesday, October 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $34.00 target price on shares of REGENXBIO in a report on Tuesday, October 7th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, REGENXBIO presently has a consensus rating of “Moderate Buy” and an average target price of $28.63.

REGENXBIO Trading Down 2.8%

Shares of RGNX stock opened at $10.93 on Thursday. The firm has a fifty day simple moving average of $11.07 and a two-hundred day simple moving average of $9.61. REGENXBIO has a 12 month low of $5.03 and a 12 month high of $13.93. The firm has a market capitalization of $553.28 million, a PE ratio of -3.15 and a beta of 1.23.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.18. The firm had revenue of $29.73 million during the quarter, compared to analysts’ expectations of $24.41 million. REGENXBIO had a negative net margin of 110.29% and a negative return on equity of 78.29%. On average, equities analysts predict that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Curran Simpson sold 20,811 shares of REGENXBIO stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $12.62, for a total transaction of $262,634.82. Following the sale, the chief executive officer directly owned 216,162 shares in the company, valued at $2,727,964.44. The trade was a 8.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 36,169 shares of company stock worth $416,598. Company insiders own 12.79% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Several institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in REGENXBIO by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company’s stock worth $38,959,000 after acquiring an additional 185,223 shares during the period. Vanguard Group Inc. raised its holdings in shares of REGENXBIO by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 3,472,988 shares of the biotechnology company’s stock worth $24,832,000 after purchasing an additional 487,036 shares during the period. Geode Capital Management LLC lifted its stake in REGENXBIO by 1.9% in the second quarter. Geode Capital Management LLC now owns 1,128,521 shares of the biotechnology company’s stock valued at $9,267,000 after purchasing an additional 21,575 shares during the last quarter. Integral Health Asset Management LLC grew its holdings in REGENXBIO by 57.1% during the third quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock valued at $10,615,000 after purchasing an additional 400,000 shares during the period. Finally, AQR Capital Management LLC increased its position in REGENXBIO by 49.9% in the second quarter. AQR Capital Management LLC now owns 930,196 shares of the biotechnology company’s stock worth $7,637,000 after buying an additional 309,601 shares during the last quarter. Institutional investors own 88.08% of the company’s stock.

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.