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

Shares of REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) have received an average rating of "Moderate Buy" from the seven ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $33.88.

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on REGENXBIO from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. Chardan Capital reissued a "buy" rating and issued a $52.00 price target on shares of REGENXBIO in a report on Thursday. StockNews.com upgraded shares of REGENXBIO from a "sell" rating to a "hold" rating in a report on Friday, March 7th. The Goldman Sachs Group cut shares of REGENXBIO from a "buy" rating to a "neutral" rating and reduced their target price for the company from $38.00 to $14.00 in a research note on Tuesday, February 11th. Finally, HC Wainwright lowered their price target on REGENXBIO from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, March 17th.

REGENXBIO Trading Up 5.6 %

RGNX traded up $0.46 during trading on Friday, hitting $8.70. The stock had a trading volume of 780,919 shares, compared to its average volume of 711,321. The firm has a market cap of $435.75 million, a PE ratio of -1.73 and a beta of 1.35. REGENXBIO has a 12 month low of $5.62 and a 12 month high of $22.42. The company has a 50 day simple moving average of $7.34 and a 200-day simple moving average of $8.85.

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REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The biotechnology company reported ($1.01) EPS for the quarter, topping analysts' consensus estimates of ($1.27) by $0.26. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. The business had revenue of $21.21 million for the quarter, compared to analyst estimates of $23.70 million. As a group, sell-side analysts anticipate that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On REGENXBIO

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in REGENXBIO by 67.0% in the 4th quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company's stock valued at $31,975,000 after buying an additional 1,659,206 shares in the last quarter. Millennium Management LLC boosted its stake in shares of REGENXBIO by 406.3% in the 4th quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company's stock valued at $10,222,000 after purchasing an additional 1,061,187 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of REGENXBIO in the 4th quarter worth about $3,865,000. Norges Bank acquired a new stake in shares of REGENXBIO during the 4th quarter worth about $3,474,000. Finally, Cubist Systematic Strategies LLC bought a new position in REGENXBIO during the 4th quarter valued at about $2,793,000. 88.08% of the stock is owned by institutional investors and hedge funds.

About REGENXBIO

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.