Brokerages Set REGENXBIO Inc. (NASDAQ:RGNX) PT at $38.25

REGENXBIO Inc. (NASDAQ:RGNX) has received an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $38.25.

Several equities research analysts have recently issued reports on the company. HC Wainwright lifted their target price on REGENXBIO from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Barclays reduced their price objective on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. The Goldman Sachs Group initiated coverage on REGENXBIO in a research report on Friday, June 7th. They set a “buy” rating and a $38.00 target price for the company. Finally, StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th.

REGENXBIO Trading Up 4.0 %

NASDAQ:RGNX opened at $12.41 on Friday. The stock has a 50-day moving average price of $12.51 and a 200 day moving average price of $15.92. The stock has a market capitalization of $613.30 million, a P/E ratio of -2.11 and a beta of 1.26. REGENXBIO has a 12-month low of $10.49 and a 12-month high of $28.80.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.24. The company had revenue of $22.30 million during the quarter, compared to analysts’ expectations of $22.97 million. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 68.21%. REGENXBIO’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company posted ($1.66) earnings per share. On average, research analysts predict that REGENXBIO will post -4.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Kenneth T. Mills sold 12,221 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $13.78, for a total transaction of $168,405.38. Following the transaction, the director now owns 408,035 shares of the company’s stock, valued at $5,622,722.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other REGENXBIO news, Director Kenneth T. Mills sold 2,210 shares of REGENXBIO stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $13.77, for a total transaction of $30,431.70. Following the completion of the sale, the director now directly owns 408,035 shares of the company’s stock, valued at approximately $5,618,641.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenneth T. Mills sold 12,221 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $13.78, for a total transaction of $168,405.38. Following the transaction, the director now owns 408,035 shares in the company, valued at $5,622,722.30. The disclosure for this sale can be found here. Insiders have sold 55,279 shares of company stock valued at $760,034 in the last ninety days. 13.13% of the stock is owned by company insiders.

Institutional Trading of REGENXBIO

Hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale boosted its holdings in REGENXBIO by 98.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 74,600 shares of the biotechnology company’s stock worth $1,376,000 after acquiring an additional 37,000 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of REGENXBIO in the fourth quarter worth about $363,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of REGENXBIO by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 327,451 shares of the biotechnology company’s stock worth $5,878,000 after purchasing an additional 1,683 shares during the period. BNP Paribas Financial Markets increased its holdings in REGENXBIO by 174.4% in the 4th quarter. BNP Paribas Financial Markets now owns 67,760 shares of the biotechnology company’s stock worth $1,216,000 after buying an additional 43,070 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of REGENXBIO in the 4th quarter valued at $644,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.