REGENXBIO (NASDAQ:RGNX) Stock Price Down 6.7% – Here’s Why

REGENXBIO Inc. (NASDAQ:RGNX) shares dropped 6.7% on Thursday . The company traded as low as $13.99 and last traded at $13.9470. Approximately 468,091 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 687,727 shares. The stock had previously closed at $14.95.

Analysts Set New Price Targets

A number of equities analysts recently commented on RGNX shares. HC Wainwright restated a “buy” rating and issued a $34.00 price objective on shares of REGENXBIO in a report on Tuesday, October 7th. Chardan Capital restated a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a report on Thursday, November 20th. Stifel Nicolaus upped their target price on shares of REGENXBIO from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Wall Street Zen upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research note on Monday, November 24th. Finally, Royal Bank Of Canada upped their price objective on shares of REGENXBIO from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

REGENXBIO Stock Performance

The company has a 50-day moving average price of $13.22 and a 200-day moving average price of $10.93. The company has a market capitalization of $697.33 million, a price-to-earnings ratio of -3.97 and a beta of 1.07.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($1.20) EPS for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.18. The business had revenue of $29.73 million during the quarter, compared to analysts’ expectations of $24.41 million. REGENXBIO had a negative net margin of 110.29% and a negative return on equity of 78.29%. As a group, sell-side analysts anticipate that REGENXBIO Inc. will post -4.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On REGENXBIO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RGNX. State of Alaska Department of Revenue acquired a new stake in shares of REGENXBIO in the 3rd quarter valued at about $25,000. Aquatic Capital Management LLC acquired a new stake in REGENXBIO in the 3rd quarter valued at approximately $37,000. Jones Financial Companies Lllp lifted its stake in REGENXBIO by 44.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 1,270 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in REGENXBIO by 754.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company’s stock worth $46,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of REGENXBIO during the 2nd quarter worth approximately $85,000. 88.08% of the stock is owned by institutional investors and hedge funds.

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.