REGENXBIO (NASDAQ:RGNX) Sets New 12-Month High – What’s Next?

REGENXBIO Inc. (NASDAQ:RGNX)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $15.98 and last traded at $15.9540, with a volume of 212639 shares trading hands. The stock had previously closed at $15.02.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RGNX. Stifel Nicolaus boosted their price target on shares of REGENXBIO from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of REGENXBIO in a research report on Wednesday, October 8th. Chardan Capital reissued a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research report on Thursday, November 20th. Royal Bank Of Canada raised their price target on shares of REGENXBIO from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $34.00 price objective on shares of REGENXBIO in a research note on Tuesday, October 7th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

REGENXBIO Stock Up 6.0%

The company has a market cap of $805.87 million, a P/E ratio of -4.59 and a beta of 1.07. The firm’s 50-day moving average price is $13.49 and its 200-day moving average price is $11.12.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.18. The business had revenue of $29.73 million during the quarter, compared to analyst estimates of $24.41 million. REGENXBIO had a negative net margin of 110.29% and a negative return on equity of 78.29%. As a group, analysts forecast that REGENXBIO Inc. will post -4.84 earnings per share for the current year.

Hedge Funds Weigh In On REGENXBIO

A number of large investors have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new position in shares of REGENXBIO during the 3rd quarter valued at $25,000. Aquatic Capital Management LLC purchased a new stake in REGENXBIO during the third quarter valued at about $37,000. Jones Financial Companies Lllp grew its position in REGENXBIO by 44.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 1,270 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of REGENXBIO by 754.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Captrust Financial Advisors bought a new stake in REGENXBIO in the 2nd quarter worth $85,000. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Company Profile

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO’s pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.