REGENXBIO Inc. (NASDAQ:RGNX) Receives $38.45 Consensus PT from Analysts

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $38.45.

Several equities analysts recently issued reports on the company. Wedbush reaffirmed a “neutral” rating and set a $21.00 price objective on shares of REGENXBIO in a report on Wednesday, February 28th. Raymond James reissued an “outperform” rating and issued a $45.00 price target on shares of REGENXBIO in a report on Wednesday, February 21st. Robert W. Baird boosted their price target on REGENXBIO from $34.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Barclays lifted their price objective on REGENXBIO from $45.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Finally, Royal Bank of Canada upgraded REGENXBIO from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $20.00 to $35.00 in a report on Friday, March 8th.

REGENXBIO Stock Up 1.1 %

REGENXBIO stock opened at $16.83 on Wednesday. REGENXBIO has a 52-week low of $11.83 and a 52-week high of $28.80. The company’s 50 day moving average is $19.66 and its two-hundred day moving average is $17.84. The firm has a market cap of $825.34 million, a PE ratio of -2.79 and a beta of 1.38.

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

Insider Activity

In related news, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total transaction of $251,400.00. Following the sale, the chief executive officer now directly owns 408,035 shares in the company, valued at $6,838,666.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total value of $251,400.00. Following the transaction, the chief executive officer now owns 408,035 shares in the company, valued at $6,838,666.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steve Pakola sold 12,878 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the transaction, the insider now owns 107,192 shares in the company, valued at approximately $3,039,965.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,878 shares of company stock valued at $1,217,370. 13.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On REGENXBIO

Several hedge funds and other institutional investors have recently made changes to their positions in RGNX. Janney Montgomery Scott LLC bought a new stake in shares of REGENXBIO in the first quarter valued at about $304,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 purchasing an additional 75,800 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of REGENXBIO in the 1st quarter valued at $56,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of REGENXBIO by 67.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,519 shares of the biotechnology company’s stock worth $179,000 after acquiring an additional 3,426 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of REGENXBIO by 113.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 227,611 shares of the biotechnology company’s stock worth $4,796,000 after buying an additional 120,929 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

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.