REGENXBIO (NASDAQ:RGNX) Trading Up 6.5%

REGENXBIO Inc. (NASDAQ:RGNX)’s stock price shot up 6.5% on Monday . The company traded as high as $12.82 and last traded at $12.80. 348,510 shares changed hands during trading, a decline of 46% from the average session volume of 647,892 shares. The stock had previously closed at $12.02.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RGNX. Leerink Partnrs upgraded shares of REGENXBIO from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 6th. Chardan Capital restated a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a research note on Thursday, March 7th. The Goldman Sachs Group began coverage on REGENXBIO in a research report on Friday, June 7th. They set a “buy” rating and a $38.00 price objective on the stock. SVB Leerink upgraded shares of REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 target price on the stock in a research note on Wednesday, March 6th. Finally, Robert W. Baird raised their price target on shares of REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, REGENXBIO presently has a consensus rating of “Moderate Buy” and an average target price of $38.58.

REGENXBIO Trading Down 6.6 %

The firm has a market cap of $566.98 million, a PE ratio of -1.96 and a beta of 1.34. The company’s 50 day moving average price is $14.75 and its two-hundred day moving average price is $16.99.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.10). REGENXBIO had a negative net margin of 299.96% and a negative return on equity of 70.72%. The company had revenue of $15.60 million for the quarter, compared to analysts’ expectations of $23.52 million. During the same period in the previous year, the firm earned ($1.53) earnings per share. The firm’s quarterly revenue was down 18.3% on a year-over-year basis. Equities research analysts expect that REGENXBIO Inc. will post -3.75 earnings per share for the current fiscal year.

Insider Activity at REGENXBIO

In other news, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $18.19, for a total transaction of $272,850.00. Following the sale, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at approximately $7,422,156.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.13% of the stock is owned by corporate insiders.

Institutional Trading of REGENXBIO

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its stake in shares of REGENXBIO by 73.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 746 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in REGENXBIO during the first quarter worth $56,000. Annandale Capital LLC purchased a new position in shares of REGENXBIO during the 3rd quarter worth about $60,000. Headlands Technologies LLC raised its position in REGENXBIO by 276.8% in the 1st quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 2,812 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of REGENXBIO by 352.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,093 shares of the biotechnology company’s stock worth $91,000 after buying an additional 3,968 shares during the period. 88.08% of the stock is currently owned by hedge funds and other 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.