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

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating reaffirmed by equities researchers at Chardan Capital in a research note issued to investors on Thursday,Benzinga reports. They currently have a $52.00 target price on the biotechnology company’s stock. Chardan Capital’s price target indicates a potential upside of 372.30% from the company’s current price.

RGNX has been the topic of a number of other reports. Wall Street Zen upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Monday, November 24th. Stifel Nicolaus boosted their price target on shares of REGENXBIO from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of REGENXBIO in a research report on Thursday, January 22nd. Royal Bank Of Canada boosted their target price on shares of REGENXBIO from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Leerink Partners increased their target price on REGENXBIO from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, REGENXBIO has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

REGENXBIO Trading Down 17.9%

Shares of NASDAQ RGNX opened at $11.01 on Thursday. The stock has a market cap of $557.33 million, a P/E ratio of -3.17 and a beta of 1.07. The business’s fifty day simple moving average is $13.72 and its 200-day simple moving average is $11.29. REGENXBIO has a 12-month low of $5.03 and a 12-month high of $16.19.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) EPS for the quarter, topping the consensus estimate 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 return on equity of 78.29% and a negative net margin of 110.29%. On average, equities analysts forecast that REGENXBIO will post -4.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in shares of REGENXBIO by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company’s stock valued at $38,959,000 after buying an additional 185,223 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of REGENXBIO by 64.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock worth $16,709,000 after purchasing an additional 454,977 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of REGENXBIO by 1.9% during the second quarter. Geode Capital Management LLC now owns 1,128,521 shares of the biotechnology company’s stock worth $9,267,000 after purchasing an additional 21,575 shares during the last quarter. Integral Health Asset Management LLC increased its position in shares of 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 worth $10,615,000 after purchasing an additional 400,000 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of REGENXBIO by 49.9% in the 2nd quarter. AQR Capital Management LLC now owns 930,196 shares of the biotechnology company’s stock valued at $7,637,000 after purchasing an additional 309,601 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Key Headlines Impacting REGENXBIO

Here are the key news stories impacting REGENXBIO this week:

• Negative Sentiment: FDA clinical holds on RGX?111 and RGX?121 were issued after a neoplasm (intraventricular CNS tumor) was observed in a participant, halting enrollment/activities in those trials and raising safety and regulatory risk for REGENXBIO. US FDA places clinical hold on Regenxbio’s gene therapy trials
• Negative Sentiment: REGENXBIO confirmed the FDA communication in a regulatory update, stating the hold followed preliminary analysis of the single suspected neoplasm; this is company?level confirmation that directly prompted trading reaction and uncertainty about timelines for resuming the programs. REGENXBIO Announces Regulatory Update on Ultra Rare MPS Programs
• Negative Sentiment: Market reporting highlights heavy selling and a large jump in volume as investors reacted to the clinical holds, signaling short?term liquidity pressure and re?pricing of program value and pipeline risk. FDA Clinical Hold Knocks REGENXBIO Stock
• Negative Sentiment: Summaries and health?news pieces explain the FDA action and investor reaction, which can broaden negative sentiment among retail investors and amplify selling pressure. RGNX stock is falling today — what is the FDA update on REGENXBIO’s gene therapy?
• Negative Sentiment: An investor?litigation firm announced an investigation into whether REGENXBIO complied with securities laws after the company disclosed the FDA holds, adding potential legal risk and future liabilities. INVESTOR ALERT: Investigation of REGENXBIO Inc. (RGNX) by Holzer & Holzer, LLC
• Negative Sentiment: Analyst and investor?education coverage provides reasons for the decline and frames near?term downside risks (regulatory delay, program devaluation, trial uncertainty), which may prolong weak sentiment until the company and FDA clarify next steps. Why REGENXBIO Inc.’s (RGNX) Stock Is Down 18.49%

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.