REGENXBIO Inc. (NASDAQ:RGNX) Receives $31.63 Average Target Price from Analysts

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $31.63.

Several brokerages have recently issued reports on RGNX. Leerink Partners set a $24.00 price target on REGENXBIO in a research report on Tuesday, March 18th. Morgan Stanley raised their price objective on shares of REGENXBIO from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. HC Wainwright cut their target price on shares of REGENXBIO from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Chardan Capital reissued a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a report on Monday. Finally, The Goldman Sachs Group dropped their price objective on shares of REGENXBIO from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th.

Insiders Place Their Bets

In other news, Director Kenneth T. Mills sold 20,602 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $7.91, for a total value of $162,961.82. Following the sale, the director now directly owns 475,103 shares in the company, valued at approximately $3,758,064.73. This represents a 4.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 12.79% of the company’s stock.

Institutional Trading of REGENXBIO

Institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new position in shares of REGENXBIO in the 1st quarter worth approximately $35,000. Brooklyn Investment Group boosted its stake in REGENXBIO by 163.7% in the first quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 3,466 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in REGENXBIO in the fourth quarter worth $54,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of REGENXBIO in the fourth quarter valued at $79,000. Finally, Laurion Capital Management LP acquired a new position in REGENXBIO during the 4th quarter worth about $79,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Stock Up 4.0%

Shares of NASDAQ:RGNX opened at $10.20 on Thursday. The firm has a fifty day moving average of $8.29 and a two-hundred day moving average of $7.95. REGENXBIO has a 12-month low of $5.04 and a 12-month high of $15.36. The firm has a market capitalization of $511.63 million, a P/E ratio of -2.03 and a beta of 1.09.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Monday, May 12th. The biotechnology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.29). REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. The business had revenue of $89.01 million for the quarter, compared to the consensus estimate of $105.35 million. Equities research analysts expect that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

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.