REGENXBIO’s (RGNX) “Outperform” Rating Reiterated at Raymond James

Raymond James restated their outperform rating on shares of REGENXBIO (NASDAQ:RGNX) in a research note released on Thursday morning, MarketBeat.com reports. They currently have a $18.00 price objective on the biotechnology company’s stock.

RGNX has been the subject of a number of other reports. HC Wainwright restated a buy rating and issued a $39.00 target price on shares of REGENXBIO in a report on Wednesday, September 4th. StockNews.com upgraded shares of REGENXBIO from a sell rating to a hold rating in a research note on Friday, September 20th. Finally, Barclays decreased their price objective on shares of REGENXBIO from $55.00 to $50.00 and set an overweight rating for the company in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, REGENXBIO currently has an average rating of Moderate Buy and an average target price of $35.45.

REGENXBIO Price Performance

Shares of NASDAQ RGNX opened at $9.89 on Thursday. REGENXBIO has a 12 month low of $9.11 and a 12 month high of $28.80. The company has a 50-day simple moving average of $11.50 and a 200-day simple moving average of $13.72. The company has a market cap of $487.14 million, a PE ratio of -1.68 and a beta of 1.21.

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

Insider Transactions at REGENXBIO

In other news, Director Argeris N. Karabelas sold 11,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.04, for a total transaction of $165,440.00. Following the transaction, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $169,741.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Argeris N. Karabelas sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total value of $101,100.00. Following the sale, the director now directly owns 11,286 shares of the company’s stock, valued at $114,101.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Argeris N. Karabelas sold 11,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.04, for a total transaction of $165,440.00. Following the completion of the sale, the director now directly owns 11,286 shares in the company, valued at $169,741.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,279 shares of company stock valued at $864,034. Corporate insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its holdings in REGENXBIO by 73.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 746 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in REGENXBIO in the first quarter valued at $56,000. Headlands Technologies LLC raised its holdings in REGENXBIO by 276.8% in the first quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock valued at $81,000 after acquiring an additional 2,812 shares in the last quarter. Diversified Trust Co acquired a new stake in REGENXBIO in the second quarter valued at $121,000. Finally, Arizona State Retirement System raised its holdings in REGENXBIO by 20.6% in the second quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock valued at $137,000 after acquiring an additional 1,997 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

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.