REGENXBIO Inc. (NASDAQ:RGNX) Stock Has Consensus Target Price of $23.17

REGENXBIO Inc. (NASDAQ:RGNX) has received an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $23.17.

Several research firms have recently commented on RGNX. HC Wainwright reiterated a “buy” rating on shares of REGENXBIO in a research report on Monday, September 28th. Mizuho assumed coverage on REGENXBIO in a research report on Monday, October 5th. They set an “outperform” rating and a $22.00 price objective for the company. Zacks Research raised REGENXBIO from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Morgan Stanley reiterated an “overweight” rating and set a $18.00 target price on shares of REGENXBIO in a report on Friday, August 7th. Finally, Robert W. Baird lowered their target price on REGENXBIO from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th.

REGENXBIO Stock Up 3.5%

REGENXBIO stock opened at $7.40 on Friday. The firm has a market capitalization of $488.50 million, a PE ratio of -1.95 and a beta of 1.13. REGENXBIO has a 52 week low of $5.45 and a 52 week high of $16.19. The firm’s 50-day simple moving average is $8.60 and its 200 day simple moving average is $9.06.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.35. The firm had revenue of $108.02 million during the quarter, compared to the consensus estimate of $97.63 million. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. On average, research analysts expect that REGENXBIO will post -3.80 EPS for the current fiscal year.

Institutional Trading of REGENXBIO

Institutional investors and hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd acquired a new stake in shares of REGENXBIO during the 2nd quarter worth about $290,000. Corient Private Wealth LP acquired a new position in shares of REGENXBIO in the second quarter valued at approximately $2,608,000. AXQ Capital LP acquired a new position in shares of REGENXBIO in the second quarter valued at approximately $221,000. Palogic Value Management L.P. acquired a new position in shares of REGENXBIO in the second quarter valued at approximately $360,000. Finally, Bank of America Corp DE purchased a new position in shares of REGENXBIO during the second quarter valued at approximately $6,212,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

About REGENXBIO

REGENXBIO Inc is a biotechnology company focused on developing and commercializing gene therapies for serious diseases. The company’s programs are based primarily on its proprietary NAV AAV Technology Platform, which uses adeno-associated virus (AAV) vectors to deliver genetic material to targeted cells. Its research has emphasized conditions affecting the central nervous system, muscles and other tissues.

REGENXBIO’s pipeline has included investigational therapies such as RGX-121 for mucopolysaccharidosis type II, RGX-111 for mucopolysaccharidosis type I and RGX-202 for Duchenne muscular dystrophy.