REGENXBIO (NASDAQ:RGNX) Shares Gap Up - Here's Why

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $9.43, but opened at $10.20. REGENXBIO shares last traded at $11.16, with a volume of 217,848 shares traded.

Analyst Ratings Changes

Several research firms recently commented on RGNX. Barclays cut their target price on REGENXBIO from $55.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, August 5th. Chardan Capital reissued a "buy" rating and issued a $52.00 target price on shares of REGENXBIO in a research note on Tuesday, October 22nd. HC Wainwright reissued a "buy" rating and issued a $39.00 target price on shares of REGENXBIO in a research note on Wednesday, September 4th. Raymond James reissued an "outperform" rating and issued a $18.00 target price on shares of REGENXBIO in a research note on Thursday, October 10th. Finally, StockNews.com raised REGENXBIO from a "sell" rating to a "hold" rating in a research note on Friday, September 20th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $35.45.

REGENXBIO Stock Performance

The company has a 50-day moving average price of $10.62 and a 200-day moving average price of $12.53. The firm has a market capitalization of $554.99 million, a P/E ratio of -2.03 and a beta of 1.23.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.01). The business had revenue of $24.20 million for the quarter, compared to the consensus estimate of $21.35 million. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. Equities analysts predict that REGENXBIO Inc. will post -4.66 EPS for the current year.

Insiders Place Their Bets

In other news, Director Argeris N. Karabelas sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.56, for a total value of $115,600.00. Following the sale, the director now directly owns 11,286 shares in the company, valued at $130,466.16. The trade was a 0.00 % 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. Corporate insiders own 13.13% of the company's stock.

Institutional Trading of REGENXBIO

A number of institutional investors have recently modified their holdings of RGNX. Allspring Global Investments Holdings LLC acquired a new stake in shares of REGENXBIO in the first quarter valued at about $56,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of REGENXBIO by 80.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 170,218 shares of the biotechnology company's stock valued at $3,586,000 after acquiring an additional 75,800 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of REGENXBIO in the first quarter valued at about $304,000. Swiss National Bank increased its position in shares of REGENXBIO by 4.5% in the first quarter. Swiss National Bank now owns 81,500 shares of the biotechnology company's stock valued at $1,717,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of REGENXBIO in the first quarter valued at about $2,172,000. 88.08% of the stock is currently owned by 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.

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