REGENXBIO Inc. (NASDAQ:RGNX) Given Average Rating of “Moderate Buy” by Brokerages

REGENXBIO Inc. (NASDAQ:RGNX) has received an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $23.2727.

Several analysts have weighed in on the company. Bank of America dropped their price objective on REGENXBIO from $25.00 to $14.00 and set a “buy” rating for the company in a report on Friday, May 15th. Wall Street Zen raised shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Leerink Partners lifted their price target on shares of REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of REGENXBIO in a research note on Monday, June 8th. Finally, Robert W. Baird dropped their price target on shares of REGENXBIO from $32.00 to $29.00 and set an “outperform” rating for the company in a research note on Tuesday, August 25th.

Insider Buying and Selling

In other REGENXBIO news, insider Steve Pakola sold 2,161 shares of REGENXBIO stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total transaction of $29,476.04. Following the completion of the sale, the insider owned 213,009 shares of the company’s stock, valued at approximately $2,905,442.76. The trade was a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 58,494 shares of company stock worth $718,232. 14.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc increased its holdings in REGENXBIO by 60.4% in the second quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 1,032 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of REGENXBIO during the 3rd quarter worth about $37,000. Quantbot Technologies LP acquired a new position in shares of REGENXBIO during the 2nd quarter worth about $51,000. Legal & General Group Plc bought a new stake in shares of REGENXBIO in the 2nd quarter valued at about $56,000. Finally, Captrust Financial Advisors acquired a new stake in shares of REGENXBIO in the 2nd quarter valued at approximately $85,000. 88.08% of the stock is owned by institutional investors and hedge funds.

REGENXBIO Stock Performance

NASDAQ RGNX opened at $8.94 on Friday. The stock has a fifty day moving average of $11.01 and a 200-day moving average of $9.22. The stock has a market capitalization of $590.16 million, a P/E ratio of -2.36 and a beta of 0.94. REGENXBIO has a 52 week low of $5.45 and a 52 week high of $16.19.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.35. The company had revenue of $108.02 million during the quarter, compared to the consensus estimate of $97.63 million. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%. Equities research analysts forecast that REGENXBIO will post -3.91 earnings per share for the current fiscal year.

REGENXBIO Company Profile

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO’s pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.