REGENXBIO (NASDAQ:RGNX) Price Target Raised to $40.00 at HC Wainwright

REGENXBIO (NASDAQ:RGNX) had its target price boosted by investment analysts at HC Wainwright from $39.00 to $40.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 258.42% from the company’s previous close.

A number of other research analysts have also recently commented on RGNX. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Chardan Capital reiterated a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a report on Tuesday, October 22nd. Raymond James restated an “outperform” rating and set a $18.00 target price on shares of REGENXBIO in a research note on Thursday, October 10th. Finally, Barclays dropped their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.55.

REGENXBIO Price Performance

Shares of RGNX opened at $11.16 on Thursday. REGENXBIO has a 12 month low of $8.53 and a 12 month high of $28.80. The stock’s 50-day moving average is $10.58 and its two-hundred day moving average is $12.49. The stock has a market cap of $551.53 million, a PE ratio of -2.22 and a beta of 1.23.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.01). The company had revenue of $24.20 million for the quarter, compared to analyst estimates of $21.35 million. REGENXBIO had a negative return on equity of 68.19% and a negative net margin of 283.19%. On average, research analysts anticipate that REGENXBIO will post -4.66 earnings per share for the current year.

Insider Buying and Selling at REGENXBIO

In related news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total transaction of $101,100.00. Following the transaction, the director now directly owns 11,286 shares in the company, valued at $114,101.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.13% of the stock is currently owned by insiders.

Institutional Trading of REGENXBIO

Hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC grew its position in REGENXBIO by 8.3% in the 1st quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock worth $240,000 after purchasing an additional 874 shares during the last quarter. Maryland State Retirement & Pension System increased its position in REGENXBIO by 7.2% in the 2nd quarter. Maryland State Retirement & Pension System now owns 15,800 shares of the biotechnology company’s stock valued at $185,000 after acquiring an additional 1,067 shares during the period. Amalgamated Bank raised its stake in REGENXBIO by 9.9% during the 2nd quarter. Amalgamated Bank now owns 13,613 shares of the biotechnology company’s stock valued at $159,000 after acquiring an additional 1,227 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in REGENXBIO by 8.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock worth $383,000 after acquiring an additional 1,438 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of REGENXBIO by 20.6% in the second quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 1,997 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors.

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.