REGENXBIO Inc. (NASDAQ:RGNX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been given an average recommendation of “Moderate Buy” by the thirteen analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $38.25.

Several equities research analysts have recently weighed in on the company. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. HC Wainwright raised their price target on shares of REGENXBIO from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays cut their price objective on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Finally, The Goldman Sachs Group started coverage on REGENXBIO in a research report on Friday, June 7th. They set a “buy” rating and a $38.00 target price on the stock.

Insider Activity

In related news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $11.27, for a total transaction of $112,700.00. Following the completion of the transaction, the director now directly owns 11,286 shares in the company, valued at $127,193.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other REGENXBIO news, Director Argeris N. Karabelas sold 10,100 shares of the business’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 sale, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $152,473.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $11.27, for a total value of $112,700.00. Following the completion of the transaction, the director now owns 11,286 shares of the company’s stock, valued at approximately $127,193.22. The disclosure for this sale can be found here. Insiders have sold a total of 55,279 shares of company stock worth $760,034 over the last three months. Corporate insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

Several institutional investors and hedge funds have recently bought and sold shares of RGNX. PNC Financial Services Group Inc. increased its position in shares of REGENXBIO by 73.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 746 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in REGENXBIO during the first quarter worth $56,000. Headlands Technologies LLC raised its position in REGENXBIO by 276.8% during the first quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock worth $81,000 after acquiring an additional 2,812 shares in the last quarter. Diversified Trust Co acquired a new stake in REGENXBIO in the second quarter valued at $121,000. Finally, Arizona State Retirement System lifted its stake in REGENXBIO by 20.6% in the second quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock valued at $137,000 after acquiring an additional 1,997 shares during the last quarter. Institutional investors own 88.08% of the company’s stock.

REGENXBIO Trading Up 4.0 %

NASDAQ:RGNX opened at $12.41 on Friday. The firm has a market capitalization of $613.30 million, a PE ratio of -2.11 and a beta of 1.26. REGENXBIO has a 1 year low of $10.49 and a 1 year high of $28.80. The firm’s fifty day simple moving average is $12.51 and its 200 day simple moving average is $15.92.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($1.05) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.24. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. The business had revenue of $22.30 million for the quarter, compared to analyst estimates of $22.97 million. During the same period in the previous year, the company posted ($1.66) earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts anticipate that REGENXBIO will post -4.66 EPS for the current fiscal year.

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.