HC Wainwright Has Lowered Expectations for REGENXBIO (NASDAQ:RGNX) Stock Price

REGENXBIO (NASDAQ:RGNX) had its price objective decreased by analysts at HC Wainwright from $36.00 to $34.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 335.90% from the company’s current price.

RGNX has been the topic of several other reports. Morgan Stanley upped their price objective on REGENXBIO from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Chardan Capital restated a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a research report on Friday, March 14th. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Royal Bank of Canada restated an “outperform” rating and issued a $30.00 price objective on shares of REGENXBIO in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group cut REGENXBIO from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $38.00 to $14.00 in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, REGENXBIO has a consensus rating of “Moderate Buy” and a consensus target price of $33.88.

REGENXBIO Stock Up 11.4 %

NASDAQ:RGNX opened at $7.80 on Monday. The business’s 50 day moving average is $7.28 and its two-hundred day moving average is $8.94. The company has a market cap of $386.45 million, a PE ratio of -1.55 and a beta of 1.35. REGENXBIO has a 52 week low of $5.62 and a 52 week high of $23.14.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.26. The firm had revenue of $21.21 million during the quarter, compared to analyst estimates of $23.70 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. As a group, sell-side analysts expect that REGENXBIO will post -4.84 EPS for the current fiscal year.

Hedge Funds Weigh In On REGENXBIO

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in REGENXBIO by 67.0% in the 4th quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company’s stock worth $31,975,000 after acquiring an additional 1,659,206 shares during the last quarter. Millennium Management LLC lifted its position in REGENXBIO by 406.3% during the 4th quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company’s stock valued at $10,222,000 after acquiring an additional 1,061,187 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in REGENXBIO in the fourth quarter worth about $3,865,000. Norges Bank purchased a new position in REGENXBIO in the fourth quarter worth about $3,474,000. Finally, Cubist Systematic Strategies LLC purchased a new position in REGENXBIO in the fourth quarter worth about $2,793,000. Institutional investors own 88.08% of the company’s stock.

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.