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

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating reiterated by equities research analysts at Chardan Capital in a research note issued to investors on Monday,Benzinga reports. They currently have a $52.00 target price on the biotechnology company’s stock. Chardan Capital’s price objective would indicate a potential upside of 430.07% from the company’s previous close.

Several other research analysts have also commented on the stock. Wall Street Zen raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Leerink Partners set a $24.00 price target on shares of REGENXBIO in a research report on Tuesday, March 18th. HC Wainwright cut their price objective on REGENXBIO from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Morgan Stanley increased 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. Finally, The Goldman Sachs Group lowered their target price on REGENXBIO from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.63.

REGENXBIO Stock Up 2.9%

RGNX opened at $9.81 on Monday. REGENXBIO has a 52 week low of $5.04 and a 52 week high of $15.36. The business has a fifty day simple moving average of $8.21 and a 200-day simple moving average of $7.93. The firm has a market cap of $492.07 million, a P/E ratio of -1.95 and a beta of 1.09.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Monday, May 12th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.29). The firm had revenue of $89.01 million for the quarter, compared to analysts’ expectations of $105.35 million. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. Sell-side analysts expect that REGENXBIO will post -4.84 earnings per share for the current year.

Insider Transactions at REGENXBIO

In other news, Director Kenneth T. Mills sold 20,602 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $7.91, for a total value of $162,961.82. Following the transaction, the director now owns 475,103 shares in the company, valued at approximately $3,758,064.73. This represents a 4.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 12.79% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Several institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new position in REGENXBIO in the first quarter valued at approximately $35,000. Brooklyn Investment Group boosted its holdings in shares of REGENXBIO by 163.7% in the 1st quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 3,466 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of REGENXBIO in the 4th quarter valued at $54,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of REGENXBIO in the 4th quarter valued at $79,000. Finally, Laurion Capital Management LP acquired a new stake in REGENXBIO during the 4th quarter worth $79,000. 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.