REGENXBIO Inc. (NASDAQ:RGNX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have earned an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $31.63.

RGNX has been the topic of several research reports. Chardan Capital restated a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research report on Monday, June 9th. The Goldman Sachs Group decreased their target price on REGENXBIO from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th.

Insider Buying and Selling

In related news, Director Kenneth T. Mills sold 20,602 shares of REGENXBIO stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $7.91, for a total transaction of $162,961.82. Following the transaction, the director owned 475,103 shares in the company, valued at approximately $3,758,064.73. This trade represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 12.79% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

A number of institutional investors have recently added to or reduced their stakes in RGNX. Raymond James Financial Inc. purchased a new position in REGENXBIO during the fourth quarter worth approximately $568,000. Teacher Retirement System of Texas lifted its position in REGENXBIO by 19.9% during the fourth quarter. Teacher Retirement System of Texas now owns 12,590 shares of the biotechnology company’s stock worth $97,000 after buying an additional 2,088 shares in the last quarter. American Century Companies Inc. lifted its position in REGENXBIO by 8.8% during the fourth quarter. American Century Companies Inc. now owns 95,026 shares of the biotechnology company’s stock worth $735,000 after buying an additional 7,658 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in REGENXBIO during the fourth quarter worth approximately $54,000. Finally, EntryPoint Capital LLC purchased a new position in REGENXBIO during the fourth quarter worth approximately $97,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

REGENXBIO Trading Down 4.3%

Shares of RGNX opened at $8.41 on Friday. REGENXBIO has a 12 month low of $5.03 and a 12 month high of $15.02. The stock’s 50 day moving average is $8.98 and its two-hundred day moving average is $7.98. The firm has a market cap of $421.85 million, a P/E ratio of -2.70 and a beta of 1.06.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.29). The business had revenue of $89.01 million during the quarter, compared to analyst estimates of $105.35 million. REGENXBIO had a negative net margin of 100.62% and a negative return on equity of 53.29%. Equities research analysts forecast that REGENXBIO will post -4.84 EPS for the current year.

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.