Brokerages Set REGENXBIO Inc. (NASDAQ:RGNX) PT at $38.45

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $38.45.

RGNX has been the topic of several research reports. HC Wainwright restated a “buy” rating and issued a $36.00 target price on shares of REGENXBIO in a research note on Monday, March 11th. Wedbush reiterated a “neutral” rating and set a $21.00 price objective on shares of REGENXBIO in a research note on Wednesday, February 28th. Chardan Capital reiterated a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Thursday, March 7th. Royal Bank of Canada upgraded REGENXBIO from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $20.00 to $35.00 in a research note on Friday, March 8th. Finally, StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Thursday, April 11th.

Insider Buying and Selling at REGENXBIO

In other news, insider Steve Pakola sold 12,878 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total value of $365,220.08. Following the transaction, the insider now owns 107,192 shares in the company, valued at approximately $3,039,965.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Steve Pakola sold 12,878 shares of REGENXBIO stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the sale, the insider now owns 107,192 shares of the company’s stock, valued at approximately $3,039,965.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total transaction of $251,400.00. Following the transaction, the chief executive officer now owns 408,035 shares of the company’s stock, valued at $6,838,666.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,878 shares of company stock worth $1,217,370. 13.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On REGENXBIO

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Redmile Group LLC grew its position in REGENXBIO by 27.0% in the third quarter. Redmile Group LLC now owns 2,574,042 shares of the biotechnology company’s stock worth $42,369,000 after acquiring an additional 547,466 shares in the last quarter. Perceptive Advisors LLC bought a new position in shares of REGENXBIO during the fourth quarter valued at about $6,146,000. Assenagon Asset Management S.A. grew its stake in shares of REGENXBIO by 113.4% in the first quarter. Assenagon Asset Management S.A. now owns 227,611 shares of the biotechnology company’s stock worth $4,796,000 after purchasing an additional 120,929 shares during the last quarter. Raymond James & Associates grew its stake in shares of REGENXBIO by 405.3% in the third quarter. Raymond James & Associates now owns 100,620 shares of the biotechnology company’s stock worth $1,656,000 after purchasing an additional 80,706 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of REGENXBIO by 80.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 170,218 shares of the biotechnology company’s stock worth $3,586,000 after purchasing an additional 75,800 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Stock Up 1.1 %

Shares of RGNX stock opened at $16.83 on Wednesday. The stock has a 50-day moving average price of $19.66 and a 200 day moving average price of $17.84. The firm has a market cap of $825.34 million, a price-to-earnings ratio of -2.79 and a beta of 1.38. REGENXBIO has a 12 month low of $11.83 and a 12 month high of $28.80.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.16). The company had revenue of $22.30 million for the quarter, compared to analyst estimates of $34.01 million. REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. REGENXBIO’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.38) earnings per share. Sell-side analysts predict that REGENXBIO will post -3.98 earnings per share for the current fiscal year.

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.