REGENXBIO Inc. (RGNX) Given Consensus Recommendation of “Buy” by Brokerages
Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been given a consensus rating of “Buy” by the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $34.33.
A number of analysts have recently weighed in on RGNX shares. BidaskClub raised shares of REGENXBIO from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Investment Research raised shares of REGENXBIO from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Saturday. Evercore ISI started coverage on shares of REGENXBIO in a report on Wednesday. They set an “outperform” rating for the company. Finally, Chardan Capital upped their price target on shares of REGENXBIO from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th.
REGENXBIO (RGNX) traded up 3.50% during mid-day trading on Wednesday, hitting $22.15. 176,545 shares of the stock traded hands. The firm’s market cap is $684.30 million. REGENXBIO has a 52 week low of $9.84 and a 52 week high of $24.55. The firm’s 50-day moving average price is $19.63 and its 200-day moving average price is $19.36.
REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $0.34. REGENXBIO had a negative net margin of 839.87% and a negative return on equity of 38.74%. The company had revenue of $6.56 million during the quarter. On average, equities analysts forecast that REGENXBIO will post ($2.93) earnings per share for the current fiscal year.
In related news, insider Kenneth T. Mills sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $19.68, for a total transaction of $127,920.00. Following the completion of the transaction, the insider now directly owns 119,396 shares in the company, valued at approximately $2,349,713.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vittal Vasista sold 3,100 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $19.81, for a total transaction of $61,411.00. Following the transaction, the chief financial officer now owns 108,423 shares of the company’s stock, valued at $2,147,859.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,200 shares of company stock valued at $368,746. 17.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in RGNX. Redmile Group LLC bought a new position in REGENXBIO during the first quarter worth about $24,494,000. State Street Corp boosted its position in REGENXBIO by 178.1% in the second quarter. State Street Corp now owns 880,844 shares of the biotechnology company’s stock worth $17,399,000 after buying an additional 564,129 shares in the last quarter. GMT Capital Corp boosted its position in REGENXBIO by 1,086.2% in the second quarter. GMT Capital Corp now owns 609,700 shares of the biotechnology company’s stock worth $12,346,000 after buying an additional 558,300 shares in the last quarter. Citadel Advisors LLC boosted its position in REGENXBIO by 625.1% in the first quarter. Citadel Advisors LLC now owns 559,887 shares of the biotechnology company’s stock worth $10,806,000 after buying an additional 482,667 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in REGENXBIO by 23.2% in the first quarter. Vanguard Group Inc. now owns 981,517 shares of the biotechnology company’s stock worth $18,942,000 after buying an additional 184,700 shares in the last quarter. Institutional investors and hedge funds own 67.84% of the company’s stock.
REGENXBIO Inc is a clinical-stage biotechnology company. The Company’s gene therapy product candidates are designed to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. The Company develops products candidates across the therapeutic areas of metabolic, neurodegenerative and retinal diseases.
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