REGENXBIO’s (RGNX) “Buy” Rating Reaffirmed at Chardan Capital

Chardan Capital reiterated their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research report released on Tuesday morning, Benzinga reports. They currently have a $52.00 target price on the biotechnology company’s stock.

Other analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. HC Wainwright reiterated a “buy” rating and issued a $39.00 price target on shares of REGENXBIO in a research note on Wednesday, September 4th. Raymond James reiterated an “outperform” rating and issued a $18.00 price target on shares of REGENXBIO in a research note on Thursday, October 10th. Finally, Barclays decreased their price target on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, REGENXBIO has an average rating of “Moderate Buy” and an average price target of $35.45.

REGENXBIO Price Performance

Shares of RGNX stock opened at $9.59 on Tuesday. REGENXBIO has a 1 year low of $9.11 and a 1 year high of $28.80. The firm has a fifty day moving average price of $11.26 and a 200-day moving average price of $13.17. The company has a market cap of $473.94 million, a price-to-earnings ratio of -1.82 and a beta of 1.21.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.24. The company had revenue of $22.30 million during the quarter, compared to the consensus estimate of $22.97 million. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 68.21%. REGENXBIO’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.66) EPS. Equities research analysts expect that REGENXBIO will post -4.66 EPS for the current year.

Insider Activity

In other news, Director Argeris N. Karabelas sold 11,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.04, for a total transaction of $165,440.00. Following the sale, the director now directly owns 11,286 shares in the company, valued at approximately $169,741.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Argeris N. Karabelas sold 11,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.04, for a total transaction of $165,440.00. Following the transaction, the director now directly owns 11,286 shares in the company, valued at approximately $169,741.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Argeris N. Karabelas sold 10,100 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $13.51, for a total transaction of $136,451.00. Following the transaction, the director now owns 11,286 shares in the company, valued at $152,473.86. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,848 shares of company stock worth $665,197. 13.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On REGENXBIO

A number of hedge funds have recently added to or reduced their stakes in RGNX. Redmile Group LLC grew its stake in REGENXBIO by 21.0% in the 1st quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company’s stock worth $95,901,000 after acquiring an additional 790,866 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in REGENXBIO by 258.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 816,384 shares of the biotechnology company’s stock worth $9,552,000 after acquiring an additional 588,773 shares in the last quarter. Vanguard Group Inc. grew its stake in REGENXBIO by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company’s stock worth $102,756,000 after acquiring an additional 436,043 shares in the last quarter. Artal Group S.A. bought a new position in shares of REGENXBIO during the first quarter valued at approximately $5,268,000. Finally, Integral Health Asset Management LLC boosted its stake in shares of REGENXBIO by 25.0% during the second quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company’s stock valued at $11,115,000 after purchasing an additional 190,000 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Company Profile

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.