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

REGENXBIO Inc. (NASDAQ:RGNX) has been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $38.45.

Several analysts have commented on the stock. SVB Leerink raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 target price for the company in a research note on Wednesday, March 6th. Royal Bank of Canada raised shares of REGENXBIO from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $20.00 to $35.00 in a research note on Friday, March 8th. Chardan Capital reissued a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Thursday, March 7th. Stifel Nicolaus reissued a “buy” rating and set a $40.00 price objective on shares of REGENXBIO in a research note on Friday, April 12th. Finally, Leerink Partnrs raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 6th.

REGENXBIO Price Performance

Shares of RGNX opened at $15.35 on Wednesday. The stock has a market cap of $752.76 million, a price-to-earnings ratio of -2.55 and a beta of 1.29. REGENXBIO has a 1-year low of $11.83 and a 1-year high of $28.80. The firm has a 50 day simple moving average of $19.75 and a 200-day simple moving average of $17.85.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.16). The firm had revenue of $22.30 million during the quarter, compared to analysts’ expectations of $34.01 million. REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The firm’s revenue was down 28.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.38) earnings per share. On average, equities analysts expect that REGENXBIO will post -3.98 earnings per share for the current fiscal year.

Insider Activity at REGENXBIO

In other REGENXBIO news, insider Steve Pakola sold 12,878 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total value of $365,220.08. Following the transaction, the insider now owns 107,192 shares in the company, valued at approximately $3,039,965.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other REGENXBIO news, insider Steve Pakola sold 12,878 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total value of $365,220.08. Following the transaction, the insider now owns 107,192 shares in the company, valued at approximately $3,039,965.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $21.86, for a total transaction of $327,900.00. Following the completion of the transaction, the chief executive officer now owns 408,035 shares in the company, valued at approximately $8,919,645.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,878 shares of company stock worth $1,217,370. 13.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors have recently modified their holdings of RGNX. Raymond James & Associates raised its stake in shares of REGENXBIO by 405.3% in the 3rd quarter. Raymond James & Associates now owns 100,620 shares of the biotechnology company’s stock valued at $1,656,000 after purchasing an additional 80,706 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of REGENXBIO by 77.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 114,962 shares of the biotechnology company’s stock valued at $1,892,000 after purchasing an additional 50,056 shares in the last quarter. Prentiss Smith & Co. Inc. acquired a new stake in shares of REGENXBIO in the 3rd quarter valued at about $185,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of REGENXBIO by 47.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,540 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 3,379 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of REGENXBIO by 8.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 208,307 shares of the biotechnology company’s stock valued at $3,429,000 after purchasing an additional 15,794 shares in the last quarter. Institutional investors and hedge funds 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.