HC Wainwright Raises REGENXBIO (NASDAQ:RGNX) Price Target to $39.00

REGENXBIO (NASDAQ:RGNX) had its price objective increased by HC Wainwright from $38.00 to $39.00 in a report published on Monday, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock. HC Wainwright also issued estimates for REGENXBIO’s FY2024 earnings at ($4.99) EPS.

Several other analysts have also recently commented on RGNX. The Goldman Sachs Group assumed coverage on REGENXBIO in a report on Friday, June 7th. They set a buy rating and a $38.00 target price on the stock. Stifel Nicolaus reaffirmed a buy rating and issued a $40.00 target price on shares of REGENXBIO in a research note on Friday, April 12th. Finally, StockNews.com raised shares of REGENXBIO from a sell rating to a hold rating in a research note on Tuesday, June 18th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, REGENXBIO has a consensus rating of Moderate Buy and an average price target of $38.25.

REGENXBIO Stock Performance

Shares of NASDAQ:RGNX opened at $11.89 on Monday. The company has a market capitalization of $585.65 million, a PE ratio of -2.02 and a beta of 1.26. The company’s fifty day moving average is $12.71 and its 200-day moving average is $15.95. REGENXBIO has a 52 week low of $10.49 and a 52 week high of $28.80.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.24. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 67.88%. The firm had revenue of $22.30 million for the quarter, compared to analysts’ expectations of $22.97 million. During the same period in the prior year, the firm earned ($1.66) earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts forecast that REGENXBIO will post -4.37 EPS for the current year.

Insider Buying and Selling

In other REGENXBIO news, Director Kenneth T. Mills sold 2,210 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $13.77, for a total value of $30,431.70. Following the transaction, the director now owns 408,035 shares of the company’s stock, valued at $5,618,641.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Kenneth T. Mills sold 2,210 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $13.77, for a total transaction of $30,431.70. Following the completion of the transaction, the director now owns 408,035 shares in the company, valued at $5,618,641.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Argeris N. Karabelas sold 10,100 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $13.51, for a total transaction of $136,451.00. Following the completion of the sale, the director now owns 11,286 shares in the company, valued at $152,473.86. The disclosure for this sale can be found here. Insiders sold a total of 70,279 shares of company stock valued at $997,184 over the last three months. Company insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of REGENXBIO by 9.8% in the first quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company’s stock valued at $102,756,000 after purchasing an additional 436,043 shares in the last quarter. Redmile Group LLC boosted its position in REGENXBIO by 21.0% during the 1st quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company’s stock worth $95,901,000 after acquiring an additional 790,866 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of REGENXBIO by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,226,957 shares of the biotechnology company’s stock worth $22,025,000 after purchasing an additional 34,385 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of REGENXBIO by 258.7% in the second quarter. Assenagon Asset Management S.A. now owns 816,384 shares of the biotechnology company’s stock worth $9,552,000 after purchasing an additional 588,773 shares in the last quarter. Finally, Perceptive Advisors LLC acquired a new position in REGENXBIO during the fourth quarter worth $6,146,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.