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

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $38.45.

RGNX has been the subject of a number of research analyst reports. Leerink Partnrs raised REGENXBIO from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 6th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Barclays raised their price target on shares of REGENXBIO from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Wedbush restated a “neutral” rating and set a $21.00 price objective on shares of REGENXBIO in a research report on Wednesday, February 28th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research report on Thursday, March 7th.

Insider Buying and Selling

In other REGENXBIO news, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $18.19, for a total value of $272,850.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at $7,422,156.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction on Monday, April 15th. The shares were sold at an average price of $18.19, for a total transaction of $272,850.00. Following the transaction, the chief executive officer now owns 408,035 shares in the company, valued at approximately $7,422,156.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steve Pakola sold 12,878 shares of the stock in a transaction 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 sale, the insider now owns 107,192 shares of the company’s stock, valued at approximately $3,039,965.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,878 shares of company stock valued at $1,217,370. 13.13% of the stock is owned by corporate insiders.

Institutional Trading of REGENXBIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in shares of REGENXBIO by 73.5% during the fourth 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. Allspring Global Investments Holdings LLC bought a new stake in REGENXBIO in the 1st quarter valued at $56,000. Annandale Capital LLC purchased a new stake in REGENXBIO in the 3rd quarter worth $60,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of REGENXBIO by 352.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,093 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 3,968 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of REGENXBIO by 47.2% during the third 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. Institutional investors own 88.08% of the company’s stock.

REGENXBIO Trading Up 1.1 %

REGENXBIO stock opened at $16.83 on Wednesday. REGENXBIO has a 12 month low of $11.83 and a 12 month high of $28.80. The company has a market capitalization of $825.34 million, a price-to-earnings ratio of -2.79 and a beta of 1.38. The business’s fifty day simple moving average is $19.66 and its two-hundred day simple moving average is $17.86.

REGENXBIO (NASDAQ:RGNX) last released 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 for the quarter, compared to the consensus estimate of $34.01 million. During the same quarter in the prior year, the business posted ($1.38) earnings per share. The firm’s revenue for the quarter was down 28.8% compared to the same quarter last year. On average, equities research analysts predict that REGENXBIO will post -3.98 EPS for the current 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.