REGENXBIO (NASDAQ:RGNX) Receives "Buy" Rating from Chardan Capital

Chardan Capital reissued their buy rating on shares of REGENXBIO (NASDAQ:RGNX - Free Report) in a research note published on Tuesday, Benzinga reports. They currently have a $52.00 price objective on the biotechnology company's stock.

Other equities research analysts have also recently issued research reports about the stock. Barclays reduced their target price on shares of REGENXBIO from $55.00 to $50.00 and set an "overweight" rating for the company in a research note on Monday, August 5th. HC Wainwright reissued a "buy" rating and issued a $39.00 price target on shares of REGENXBIO in a research report on Wednesday, September 4th. StockNews.com raised shares of REGENXBIO from a "sell" rating to a "hold" rating in a research report on Friday, September 20th. Finally, Raymond James reissued an "outperform" rating and issued a $18.00 price target on shares of REGENXBIO in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $35.45.

REGENXBIO Trading Down 7.5 %

RGNX traded down $0.78 during trading on Tuesday, hitting $9.59. The stock had a trading volume of 486,680 shares, compared to its average volume of 598,876. REGENXBIO has a 12 month low of $9.11 and a 12 month high of $28.80. The company has a 50 day simple moving average of $11.26 and a 200-day simple moving average of $13.17. The firm has a market cap of $473.94 million, a PE ratio of -1.82 and a beta of 1.21.

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 net margin of 270.74% and a negative return on equity of 68.21%. The company had revenue of $22.30 million during the quarter, compared to analysts' expectations of $22.97 million. During the same period in the prior year, the company earned ($1.66) earnings per share. The business's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that REGENXBIO will post -4.66 earnings per share for the current fiscal year.

Insider Transactions at REGENXBIO

In related news, Director Argeris N. Karabelas sold 11,000 shares of REGENXBIO stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.04, for a total transaction of $165,440.00. Following the completion of the sale, the director now owns 11,286 shares of the company's stock, valued at approximately $169,741.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other REGENXBIO news, CEO Curran Simpson sold 9,648 shares of the business's stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.04, for a total value of $145,105.92. Following the completion of the sale, the chief executive officer now owns 170,137 shares of the company's stock, valued at $2,558,860.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Argeris N. Karabelas sold 11,000 shares of the business's stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.04, for a total transaction of $165,440.00. Following the completion of the sale, the director now directly owns 11,286 shares of the company's stock, valued at $169,741.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,069 shares of company stock worth $833,602 in the last ninety days. Insiders own 13.13% of the company's stock.

Institutional Trading of REGENXBIO

A number of institutional investors and hedge funds have recently made changes to their positions in RGNX. Vanguard Group Inc. increased its position in REGENXBIO by 9.8% during the 1st quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company's stock worth $102,756,000 after purchasing an additional 436,043 shares in the last quarter. Redmile Group LLC increased its position in REGENXBIO by 21.0% during the 1st quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company's stock worth $95,901,000 after purchasing an additional 790,866 shares in the last quarter. Integral Health Asset Management LLC increased its position in REGENXBIO by 25.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company's stock worth $11,115,000 after purchasing an additional 190,000 shares in the last quarter. Assenagon Asset Management S.A. increased its position in REGENXBIO by 258.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 816,384 shares of the biotechnology company's stock worth $9,552,000 after purchasing an additional 588,773 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in REGENXBIO by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 339,514 shares of the biotechnology company's stock worth $3,972,000 after purchasing an additional 28,846 shares in the last quarter. Institutional investors own 88.08% of the company's stock.

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.