REGENXBIO (NASDAQ:RGNX) Stock Price Expected to Rise, HC Wainwright Analyst Says

REGENXBIO (NASDAQ:RGNX) had its price objective boosted by equities researchers at HC Wainwright from $39.00 to $40.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 258.42% from the stock’s current price.

Several other research firms have also commented on RGNX. Barclays decreased their price objective on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Raymond James restated an “outperform” rating and set a $18.00 price objective on shares of REGENXBIO in a research report on Thursday, October 10th. Finally, Chardan Capital reiterated a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.55.

REGENXBIO Trading Down 0.3 %

Shares of REGENXBIO stock opened at $11.16 on Thursday. The company has a 50-day moving average of $10.58 and a two-hundred day moving average of $12.49. The stock has a market cap of $551.53 million, a PE ratio of -2.22 and a beta of 1.23. REGENXBIO has a 12-month low of $8.53 and a 12-month high of $28.80.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.01). The firm had revenue of $24.20 million for the quarter, compared to analyst estimates of $21.35 million. REGENXBIO had a negative return on equity of 68.19% and a negative net margin of 283.19%. On average, sell-side analysts forecast that REGENXBIO will post -4.66 EPS for the current fiscal year.

Insider Activity at REGENXBIO

In other news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $11.56, for a total transaction of $115,600.00. Following the transaction, the director now directly owns 11,286 shares in the company, valued at $130,466.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

Several institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in REGENXBIO in the first quarter valued at $56,000. nVerses Capital LLC raised its holdings in shares of REGENXBIO by 183.3% in the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 2,200 shares during the period. Headlands Technologies LLC lifted its stake in shares of REGENXBIO by 276.8% in the 1st quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock valued at $81,000 after purchasing an additional 2,812 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of REGENXBIO by 64.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,506 shares of the biotechnology company’s stock worth $100,000 after purchasing an additional 3,720 shares during the period. Finally, Diversified Trust Co acquired a new stake in REGENXBIO during the 2nd quarter worth approximately $121,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

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.