REGENXBIO Inc. (RGNX) Rating Reiterated by Morgan Stanley
REGENXBIO Inc. (NASDAQ:RGNX)‘s stock had its “overweight” rating reaffirmed by Morgan Stanley in a report released on Thursday, Marketbeat Ratings reports. They currently have a $34.00 price objective on the biotechnology company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 23.64% from the company’s current price.
A number of other research firms also recently issued reports on RGNX. Raymond James Financial, Inc. assumed coverage on shares of REGENXBIO in a research report on Thursday, October 12th. They issued an “outperform” rating and a $39.00 target price for the company. Bank of America Corporation reiterated a “buy” rating and issued a $38.00 target price (up previously from $33.00) on shares of REGENXBIO in a research report on Monday, October 9th. Zacks Investment Research upgraded shares of REGENXBIO from a “hold” rating to a “strong-buy” rating and set a $38.00 target price for the company in a research report on Wednesday, October 18th. Chardan Capital increased their target price on shares of REGENXBIO from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Evercore ISI assumed coverage on shares of REGENXBIO in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $25.00 target price for the company. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. REGENXBIO currently has an average rating of “Buy” and a consensus target price of $40.57.
Shares of REGENXBIO (RGNX) traded up $0.70 during trading hours on Thursday, hitting $27.50. 238,599 shares of the company traded hands, compared to its average volume of 342,487. REGENXBIO has a fifty-two week low of $16.30 and a fifty-two week high of $36.10.
REGENXBIO (NASDAQ:RGNX) last released its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.04. REGENXBIO had a negative net margin of 764.06% and a negative return on equity of 39.33%. The company had revenue of $1.34 million during the quarter. research analysts forecast that REGENXBIO will post -2.74 earnings per share for the current year.
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In other news, insider Kenneth T. Mills sold 6,500 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $20.05, for a total transaction of $130,325.00. Following the transaction, the insider now owns 105,500 shares in the company, valued at approximately $2,115,275. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vittal Vasista sold 3,040 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $21.09, for a total transaction of $64,113.60. Following the transaction, the chief financial officer now owns 103,118 shares in the company, valued at approximately $2,174,758.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 210,040 shares of company stock worth $5,874,639. 17.00% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of RGNX. Legal & General Group Plc grew its stake in REGENXBIO by 41.4% in the 2nd quarter. Legal & General Group Plc now owns 6,870 shares of the biotechnology company’s stock valued at $137,000 after buying an additional 2,011 shares during the last quarter. Ardsley Advisory Partners acquired a new position in REGENXBIO in the 2nd quarter valued at $197,000. American International Group Inc. grew its stake in REGENXBIO by 7.1% in the 1st quarter. American International Group Inc. now owns 12,468 shares of the biotechnology company’s stock valued at $241,000 after buying an additional 822 shares during the last quarter. Voya Investment Management LLC acquired a new position in REGENXBIO in the 2nd quarter valued at $249,000. Finally, Asymmetry Capital Management L.P. grew its stake in REGENXBIO by 12.2% in the 2nd quarter. Asymmetry Capital Management L.P. now owns 13,906 shares of the biotechnology company’s stock valued at $275,000 after buying an additional 1,508 shares during the last quarter. Institutional investors and hedge funds own 73.42% 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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