REGENXBIO (NASDAQ:RGNX) Shares Up 6.6% – Should You Buy?

REGENXBIO Inc. (NASDAQ:RGNX)’s share price rose 6.6% during trading on Wednesday . The company traded as high as $10.98 and last traded at $10.98. Approximately 84,712 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 598,695 shares. The stock had previously closed at $10.30.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RGNX. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. HC Wainwright reaffirmed a “buy” rating and set a $39.00 target price on shares of REGENXBIO in a report on Wednesday, September 4th. Raymond James reiterated an “outperform” rating and issued a $18.00 price objective on shares of REGENXBIO in a research report on Thursday, October 10th. Finally, Barclays decreased their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.45.

REGENXBIO Stock Performance

The business’s 50-day moving average is $11.36 and its 200 day moving average is $13.47. The company has a market cap of $548.56 million, a PE ratio of -2.06 and a beta of 1.21.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company earned ($1.66) EPS. REGENXBIO’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that REGENXBIO Inc. will post -4.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other REGENXBIO news, CEO Curran Simpson sold 9,648 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.04, for a total value of $145,105.92. Following the completion of the transaction, the chief executive officer now owns 170,137 shares in the company, valued at approximately $2,558,860.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Curran Simpson sold 9,648 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.04, for a total value of $145,105.92. Following the transaction, the chief executive officer now owns 170,137 shares in the company, valued at approximately $2,558,860.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total transaction of $101,100.00. Following the completion of the transaction, the director now owns 11,286 shares of the company’s stock, valued at approximately $114,101.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,069 shares of company stock worth $833,602 over the last three months. Company insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Hedge funds have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in shares of REGENXBIO in the fourth quarter worth approximately $377,000. PNC Financial Services Group Inc. raised its stake in REGENXBIO by 73.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 746 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of REGENXBIO by 44.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 106,284 shares of the biotechnology company’s stock valued at $2,239,000 after buying an additional 32,584 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of REGENXBIO in the first quarter worth $56,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in REGENXBIO by 80.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 170,218 shares of the biotechnology company’s stock valued at $3,586,000 after acquiring an additional 75,800 shares during the period. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.