REGENXBIO (NASDAQ:RGNX) Stock Price Up 5.2% – What’s Next?

by · The Markets Daily

REGENXBIO Inc. (NASDAQ:RGNX – Get Free Report)’s share price was up 5.2% during mid-day trading on Friday . The stock traded as high as $13.28 and last traded at $13.5190. Approximately 44,285 shares traded hands during trading, a decline of 95% from the average daily volume of 838,115 shares. The stock had previously closed at $12.85.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Chardan Capital reiterated a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research report on Thursday, November 20th. Wall Street Zen upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of REGENXBIO in a report on Wednesday, October 8th. Royal Bank Of Canada upped their price objective on REGENXBIO from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $34.00 target price on shares of REGENXBIO in a research report on Tuesday, October 7th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.63.

Get Our Latest Stock Analysis on REGENXBIO

REGENXBIO Stock Performance

The firm’s fifty day simple moving average is $12.13 and its 200-day simple moving average is $10.05. The stock has a market cap of $702.61 million, a P/E ratio of -4.00 and a beta of 1.14.

REGENXBIO (NASDAQ:RGNX – Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.18. The company had revenue of $29.73 million during the quarter, compared to analysts’ expectations of $24.41 million. REGENXBIO had a negative net margin of 110.29% and a negative return on equity of 78.29%. Analysts predict that REGENXBIO Inc. will post -4.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other REGENXBIO news, CEO Curran Simpson sold 20,811 shares of REGENXBIO stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $12.62, for a total value of $262,634.82. Following the completion of the sale, the chief executive officer directly owned 216,162 shares in the company, valued at approximately $2,727,964.44. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 12.79% of the company’s stock.

Institutional Trading of REGENXBIO

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in REGENXBIO by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company’s stock worth $38,959,000 after purchasing an additional 185,223 shares during the period. Vanguard Group Inc. grew its stake in shares of REGENXBIO by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 3,472,988 shares of the biotechnology company’s stock valued at $24,832,000 after buying an additional 487,036 shares during the period. Geode Capital Management LLC increased its position in REGENXBIO by 1.9% in 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 buying an additional 21,575 shares in the last quarter. Integral Health Asset Management LLC increased its position in REGENXBIO by 57.1% in the 3rd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock valued at $10,615,000 after buying an additional 400,000 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in REGENXBIO by 49.9% in the second quarter. AQR Capital Management LLC now owns 930,196 shares of the biotechnology company’s stock worth $7,637,000 after acquiring an additional 309,601 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

REGENXBIO Company Profile

(Get Free Report)

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.

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