Chardan Capital Reaffirms Buy Rating for REGENXBIO (NASDAQ:RGNX)

Chardan Capital reaffirmed their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research note published on Tuesday morning, Benzinga reports. Chardan Capital currently has a $52.00 price objective on the biotechnology company’s stock.

RGNX has been the topic of several other research reports. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. HC Wainwright reissued a “buy” rating and set a $39.00 price target on shares of REGENXBIO in a research note on Wednesday, September 4th. Barclays lowered their price objective on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Finally, Raymond James reiterated an “outperform” rating and issued a $18.00 target price on shares of REGENXBIO in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.45.

REGENXBIO Stock Performance

Shares of NASDAQ:RGNX opened at $9.58 on Tuesday. The business’s fifty day moving average price is $11.16 and its two-hundred day moving average price is $13.12. The stock has a market cap of $471.87 million, a PE ratio of -1.63 and a beta of 1.21. REGENXBIO has a one year low of $9.11 and a one year high of $28.80.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($1.05) EPS for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.24. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. The business had revenue of $22.30 million for the quarter, compared to analyst estimates of $22.97 million. During the same quarter last year, the company earned ($1.66) earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts predict that REGENXBIO will post -4.66 earnings per share for the current fiscal year.

Insider Transactions at REGENXBIO

In related news, Director Argeris N. Karabelas sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.04, for a total value of $165,440.00. Following the transaction, the director now owns 11,286 shares in the company, valued at approximately $169,741.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Argeris N. Karabelas sold 11,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.04, for a total value of $165,440.00. Following the completion of the sale, the director now directly owns 11,286 shares in the company, valued at approximately $169,741.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Curran Simpson sold 9,648 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.04, for a total value of $145,105.92. Following the transaction, the chief executive officer now owns 170,137 shares in the company, valued at approximately $2,558,860.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,848 shares of company stock worth $665,197. 13.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On REGENXBIO

A number of institutional investors and hedge funds have recently bought and sold shares of RGNX. PNC Financial Services Group Inc. lifted its position in shares of REGENXBIO by 73.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 746 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in REGENXBIO in the 1st quarter worth $56,000. nVerses Capital LLC boosted its position in REGENXBIO by 183.3% in the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 2,200 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of REGENXBIO by 276.8% during 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. Finally, Diversified Trust Co acquired a new stake in shares of REGENXBIO during the second quarter valued at about $121,000. 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.