Robert W. Baird Cuts REGENXBIO (NASDAQ:RGNX) Price Target to $29.00

REGENXBIO (NASDAQ:RGNX) had its target price reduced by research analysts at Robert W. Baird from $32.00 to $29.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 259.80% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Barclays downgraded shares of REGENXBIO from an “overweight” rating to a “hold” rating in a report on Friday, August 7th. Zacks Research upgraded shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Morgan Stanley reissued an “overweight” rating and set a $18.00 price target on shares of REGENXBIO in a research report on Friday, August 7th. Wall Street Zen raised shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, HC Wainwright reduced their price objective on shares of REGENXBIO from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.45.

REGENXBIO Stock Down 24.8%

RGNX stock opened at $8.06 on Tuesday. REGENXBIO has a twelve month low of $5.45 and a twelve month high of $16.19. The stock’s 50 day moving average is $10.93 and its 200-day moving average is $9.23. The firm has a market capitalization of $532.04 million, a PE ratio of -2.13 and a beta of 0.94.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.35. The business had revenue of $108.02 million during the quarter, compared to the consensus estimate of $97.63 million. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%. On average, equities research analysts anticipate that REGENXBIO will post -3.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other REGENXBIO news, insider Steve Pakola sold 2,161 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total value of $29,476.04. Following the transaction, the insider directly owned 213,009 shares in the company, valued at $2,905,442.76. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 58,494 shares of company stock valued at $718,232 over the last 90 days. Insiders own 14.22% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in REGENXBIO in the second quarter worth $76,641,000. Vanguard Group Inc. grew its stake in shares of REGENXBIO by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 3,374,140 shares of the biotechnology company’s stock worth $48,588,000 after acquiring an additional 36,042 shares during the period. State Street Corp increased its holdings in REGENXBIO by 15.2% in the 4th quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock worth $32,929,000 after acquiring an additional 301,858 shares during the last quarter. AQR Capital Management LLC raised its stake in REGENXBIO by 5.6% in the 4th quarter. AQR Capital Management LLC now owns 1,361,962 shares of the biotechnology company’s stock valued at $19,612,000 after acquiring an additional 72,307 shares during the period. Finally, Integral Health Asset Management LLC raised its stake in REGENXBIO by 9.1% in the 4th quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the biotechnology company’s stock valued at $17,280,000 after acquiring an additional 100,000 shares during the period. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Key REGENXBIO News

Here are the key news stories impacting REGENXBIO this week:

• Positive Sentiment: Bank of America reportedly maintained a bullish view and urged investors to consider buying the selloff, suggesting the firm believes the FDA setback may be manageable and that REGENXBIO’s longer-term value remains intact. BofA urges buyers despite FDA hold
• Neutral Sentiment: Trading in RGNX was temporarily halted for pending news as investors awaited details of the regulatory action. REGENXBIO regulatory update
• Negative Sentiment: The FDA placed RGX-121 on clinical hold after spinal scans identified abnormalities—including nodules or masses—in five trial participants. The hold interrupts development of the investigational treatment for Mucopolysaccharidosis type II, or Hunter syndrome, and drove a steep decline in the stock. FDA places clinical hold on RGX-121
• Negative Sentiment: REGENXBIO also said it will not resubmit its U.S. Biologics License Application for its Hunter syndrome therapy at this time, weakening near-term regulatory and commercial expectations. REGENXBIO will not resubmit U.S. application
• Negative Sentiment: Johnson Fistel announced an investigation into whether REGENXBIO or its officers may have violated federal securities laws, adding potential legal and investor-confidence risks after the selloff. Johnson Fistel investigation

About REGENXBIO

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.