REGENXBIO Inc. (NASDAQ:RGNX) Receives Average Rating of "Moderate Buy" from Brokerages

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) has been given an average rating of "Moderate Buy" by the twelve ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $35.45.

A number of brokerages have commented on RGNX. HC Wainwright reaffirmed a "buy" rating and set a $39.00 target price on shares of REGENXBIO in a report on Wednesday, September 4th. Raymond James restated an "outperform" rating and issued a $18.00 price objective on shares of REGENXBIO in a research note on Thursday, October 10th. Chardan Capital reiterated a "buy" rating and set a $52.00 target price on shares of REGENXBIO in a research report on Tuesday. StockNews.com upgraded REGENXBIO from a "sell" rating to a "hold" rating in a research report on Friday, September 20th. Finally, Barclays decreased their price objective on REGENXBIO from $55.00 to $50.00 and set an "overweight" rating on the stock in a research note on Monday, August 5th.

REGENXBIO Price Performance

Shares of RGNX traded up $0.15 during trading hours on Wednesday, hitting $9.74. The stock had a trading volume of 490,290 shares, compared to its average volume of 598,347. The firm has a market capitalization of $481.35 million, a PE ratio of -1.85 and a beta of 1.21. REGENXBIO has a 12 month low of $9.11 and a 12 month high of $28.80. The stock has a fifty day moving average price of $11.22 and a 200 day moving average price of $13.15.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.29) by $0.24. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. The business had revenue of $22.30 million during the quarter, compared to the consensus estimate of $22.97 million. During the same period in the previous year, the company posted ($1.66) EPS. The business's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, analysts anticipate that REGENXBIO will post -4.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total transaction of $101,100.00. Following the sale, the director now owns 11,286 shares in the company, valued at $114,101.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Curran Simpson sold 9,648 shares of the business's stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.04, for a total value of $145,105.92. Following the sale, the chief executive officer now directly owns 170,137 shares in the company, valued at approximately $2,558,860.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total value of $101,100.00. Following the transaction, the director now directly owns 11,286 shares of the company's stock, valued at approximately $114,101.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,848 shares of company stock worth $665,197 in the last three months. 13.13% of the stock is owned by company insiders.

Institutional Trading of REGENXBIO

Several hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of REGENXBIO by 73.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 746 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of REGENXBIO in the 1st quarter worth $56,000. nVerses Capital LLC increased its holdings in shares of REGENXBIO by 183.3% in the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company's stock worth $36,000 after buying an additional 2,200 shares during the last quarter. Headlands Technologies LLC raised its position in shares of REGENXBIO by 276.8% during the 1st quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company's stock valued at $81,000 after buying an additional 2,812 shares in the last quarter. Finally, Diversified Trust Co bought a new position in shares of REGENXBIO in the 2nd quarter valued at about $121,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

REGENXBIO Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company's products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.