REGENXBIO (NASDAQ:RGNX) Given New $26.00 Price Target at HC Wainwright

REGENXBIO (NASDAQ:RGNX) had its price objective decreased by equities researchers at HC Wainwright from $30.00 to $26.00 in a report released on Friday, Marketbeat reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 325.53% from the stock’s previous close.

Several other brokerages also recently weighed in on RGNX. The Goldman Sachs Group lowered their target price on REGENXBIO from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. UBS Group restated an “overweight” rating and set a $18.00 price target on shares of REGENXBIO in a research note on Tuesday, February 10th. Chardan Capital lowered their price objective on shares of REGENXBIO from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Robert W. Baird set a $27.00 price objective on shares of REGENXBIO in a research note on Tuesday, February 10th. Finally, Barclays reduced their target price on shares of REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 15th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.55.

REGENXBIO Stock Performance

REGENXBIO stock traded down $0.77 during mid-day trading on Friday, hitting $6.11. The company’s stock had a trading volume of 817,230 shares, compared to its average volume of 1,123,939. REGENXBIO has a one year low of $5.45 and a one year high of $16.19. The company has a 50 day moving average of $8.21 and a 200-day moving average of $10.44. The stock has a market cap of $315.87 million, a PE ratio of -1.09 and a beta of 1.04.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.36). REGENXBIO had a negative net margin of 330.23% and a negative return on equity of 232.50%. The company had revenue of $6.39 million during the quarter, compared to analyst estimates of $25.84 million. On average, equities research analysts forecast that REGENXBIO will post -3.32 EPS for the current fiscal year.

Insider Activity at REGENXBIO

In other news, insider Steve Pakola sold 15,309 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $11.02, for a total value of $168,705.18. Following the completion of the transaction, the insider owned 232,617 shares in the company, valued at $2,563,439.34. This trade represents a 6.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 14.22% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of REGENXBIO by 2,247.7% during the first quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock worth $4,437,000 after purchasing an additional 594,161 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in REGENXBIO by 64.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock worth $16,709,000 after buying an additional 454,977 shares during the period. Invenomic Capital Management LP bought a new position in REGENXBIO during the third quarter worth about $4,120,000. Integral Health Asset Management LLC increased its holdings in shares of REGENXBIO by 57.1% in the third quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $10,615,000 after acquiring an additional 400,000 shares in the last quarter. Finally, State Street Corp raised its position in shares of REGENXBIO by 15.2% during the fourth quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock worth $32,929,000 after purchasing an additional 301,858 shares during the period. 88.08% of the stock is owned by hedge funds and other institutional investors.

About REGENXBIO

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.