REGENXBIO Inc. (NASDAQ:RGNX) Receives Consensus Rating of “Moderate Buy” from Brokerages
by Kim Johansen · The Markets DailyShares of REGENXBIO Inc. (NASDAQ:RGNX – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $27.50.
RGNX has been the subject of several recent research reports. Wall Street Zen downgraded REGENXBIO from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Chardan Capital decreased their target price on shares of REGENXBIO from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Morgan Stanley lowered their price target on shares of REGENXBIO from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Barclays assumed coverage on shares of REGENXBIO in a research report on Tuesday, January 27th. They set an “overweight” rating and a $37.00 price target for the company. Finally, Stifel Nicolaus raised their price target on shares of REGENXBIO from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 19th.
Check Out Our Latest Research Report on RGNX
Insider Activity
In other news, insider Steve Pakola sold 5,124 shares of REGENXBIO stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $10.35, for a total value of $53,033.40. Following the sale, the insider directly owned 247,926 shares in the company, valued at approximately $2,566,034.10. This trade represents a 2.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.79% of the stock is owned by insiders.
Institutional Trading of REGENXBIO
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in REGENXBIO by 2,247.7% during the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock valued at $4,437,000 after purchasing an additional 594,161 shares during the period. Jane Street Group LLC lifted its position in shares of REGENXBIO by 151.1% in the 1st quarter. Jane Street Group LLC now owns 414,067 shares of the biotechnology company’s stock worth $2,961,000 after purchasing an additional 249,156 shares during the period. Geode Capital Management LLC boosted its stake in shares of REGENXBIO by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,128,521 shares of the biotechnology company’s stock valued at $9,267,000 after purchasing an additional 21,575 shares in the last quarter. Intech Investment Management LLC increased its position in shares of REGENXBIO by 26.5% during the second quarter. Intech Investment Management LLC now owns 27,100 shares of the biotechnology company’s stock valued at $222,000 after buying an additional 5,682 shares during the period. Finally, Franklin Resources Inc. purchased a new position in shares of REGENXBIO during the second quarter valued at about $239,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.
REGENXBIO Stock Performance
Shares of NASDAQ:RGNX opened at $8.53 on Wednesday. The stock has a market capitalization of $440.23 million, a P/E ratio of -2.27 and a beta of 1.14. The stock’s 50-day moving average price is $9.14 and its 200-day moving average price is $11.36. REGENXBIO has a 12-month low of $5.03 and a 12-month high of $16.19.
REGENXBIO (NASDAQ:RGNX – Get Free Report) last released its earnings results on Thursday, March 5th. The biotechnology company reported ($1.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.29). REGENXBIO had a negative net margin of 113.75% and a negative return on equity of 103.12%. The company had revenue of $30.34 million during the quarter, compared to the consensus estimate of $45.48 million. As a group, research analysts predict that REGENXBIO will post -4.84 EPS for the current year.
REGENXBIO Company Profile
REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO’s pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.
In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.