REGENXBIO (NASDAQ:RGNX) Trading Up 8% – Should You Buy?

REGENXBIO Inc. (NASDAQ:RGNX) shares shot up 8% during trading on Monday . The company traded as high as $10.70 and last traded at $10.68. 1,358,429 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 1,470,479 shares. The stock had previously closed at $9.89.

Analyst Ratings Changes

A number of research firms have recently weighed in on RGNX. Leerink Partners lifted their price objective on REGENXBIO from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Morgan Stanley set a $16.00 target price on shares of REGENXBIO in a report on Friday, May 15th. Zacks Research cut shares of REGENXBIO from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Bank of America lowered their price target on shares of REGENXBIO from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Finally, Barclays dropped their price target on shares of REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, REGENXBIO presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.82.

REGENXBIO Stock Up 7.9%

The firm’s fifty day moving average price is $9.09 and its 200 day moving average price is $9.84. The stock has a market cap of $551.69 million, a PE ratio of -1.91 and a beta of 0.90.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.36). The company had revenue of $6.39 million for the quarter, compared to analysts’ expectations of $25.84 million. REGENXBIO had a negative net margin of 330.23% and a negative return on equity of 232.50%. As a group, analysts anticipate that REGENXBIO Inc. will post -3.69 earnings per share for the current fiscal year.

Insider Activity at REGENXBIO

In other news, insider Steve Pakola sold 36,725 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $12.86, for a total transaction of $472,283.50. Following the completion of the transaction, the insider owned 213,009 shares in the company, valued at $2,739,295.74. This trade represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 73,803 shares of company stock worth $886,937. 14.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On REGENXBIO

A number of hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc increased its stake in REGENXBIO by 60.4% in the 2nd quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 1,032 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of REGENXBIO in the third quarter valued at $37,000. Entropy Technologies LP bought a new stake in REGENXBIO in the first quarter worth $87,000. Captrust Financial Advisors bought a new position in REGENXBIO during the second quarter valued at $85,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of REGENXBIO in the 4th quarter worth $150,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.