The Goldman Sachs Group Lowers REGENXBIO (NASDAQ:RGNX) Price Target to $12.00

REGENXBIO (NASDAQ:RGNX) had its target price lowered by equities research analysts at The Goldman Sachs Group from $14.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 99.53% from the stock’s previous close.

Several other research firms have also issued reports on RGNX. Leerink Partners set a $24.00 price target on shares of REGENXBIO in a research report on Tuesday, March 18th. HC Wainwright dropped their target price on REGENXBIO from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Chardan Capital reissued a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a report on Thursday, March 20th. Finally, Morgan Stanley lifted their target price on REGENXBIO from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.63.

REGENXBIO Stock Down 2.4 %

REGENXBIO stock traded down $0.15 during trading on Thursday, hitting $6.01. The stock had a trading volume of 255,385 shares, compared to its average volume of 797,599. The stock’s 50 day moving average is $6.88 and its two-hundred day moving average is $8.22. REGENXBIO has a 1 year low of $5.04 and a 1 year high of $17.99. The stock has a market cap of $301.40 million, a price-to-earnings ratio of -1.20 and a beta of 1.26.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $21.21 million during the quarter, compared to the consensus estimate of $23.70 million. As a group, equities research analysts anticipate that REGENXBIO will post -4.84 EPS for the current fiscal year.

Institutional Trading of REGENXBIO

Several hedge funds have recently added to or reduced their stakes in RGNX. FMR LLC increased its stake in REGENXBIO by 166.8% in the 3rd quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 1,656 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in REGENXBIO by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,910 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 1,982 shares during the last quarter. Teacher Retirement System of Texas boosted its position in REGENXBIO by 19.9% during the 4th quarter. Teacher Retirement System of Texas now owns 12,590 shares of the biotechnology company’s stock valued at $97,000 after buying an additional 2,088 shares during the period. DnB Asset Management AS grew its holdings in REGENXBIO by 20.1% in the 4th quarter. DnB Asset Management AS now owns 14,539 shares of the biotechnology company’s stock worth $112,000 after acquiring an additional 2,434 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in REGENXBIO by 273.1% during the 4th quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 2,510 shares during the period. 88.08% of the stock is 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.