REGENXBIO (NASDAQ:RGNX) Stock Price Expected to Rise, HC Wainwright Analyst Says

REGENXBIO (NASDAQ:RGNX) had its target price raised by equities researchers at HC Wainwright from $39.00 to $40.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 256.51% from the company’s current price.

A number of other brokerages have also recently commented on RGNX. Barclays lowered their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Chardan Capital reaffirmed a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a research report on Tuesday, October 22nd. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Raymond James restated an “outperform” rating and set a $18.00 target price on shares of REGENXBIO in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, REGENXBIO currently has an average rating of “Moderate Buy” and an average target price of $35.55.

REGENXBIO Stock Performance

NASDAQ RGNX traded up $1.79 during trading hours on Thursday, reaching $11.22. The stock had a trading volume of 1,478,859 shares, compared to its average volume of 594,913. The stock has a fifty day moving average of $10.62 and a 200 day moving average of $12.53. The stock has a market cap of $554.49 million, a P/E ratio of -2.14 and a beta of 1.23. REGENXBIO has a 52-week low of $8.53 and a 52-week high of $28.80.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Wednesday, November 6th. The biotechnology company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.01). The business had revenue of $24.20 million for the quarter, compared to analyst estimates of $21.35 million. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. On average, equities research analysts forecast that REGENXBIO will post -4.66 EPS for the current year.

Insider Buying and Selling at REGENXBIO

In other news, Director Argeris N. Karabelas sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total value of $101,100.00. Following the sale, the director now directly owns 11,286 shares in the company, valued at $114,101.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On REGENXBIO

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of REGENXBIO by 80.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 170,218 shares of the biotechnology company’s stock worth $3,586,000 after purchasing an additional 75,800 shares during the period. Integral Health Asset Management LLC raised its holdings in shares of REGENXBIO by 25.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company’s stock worth $11,115,000 after purchasing an additional 190,000 shares during the period. Quest Partners LLC raised its holdings in shares of REGENXBIO by 11,731.0% in the 2nd quarter. Quest Partners LLC now owns 42,000 shares of the biotechnology company’s stock worth $491,000 after purchasing an additional 41,645 shares during the period. ProShare Advisors LLC raised its holdings in shares of REGENXBIO by 8.3% in the 1st quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock worth $240,000 after purchasing an additional 874 shares during the period. Finally, Squarepoint Ops LLC raised its holdings in shares of REGENXBIO by 630.9% in the 2nd quarter. Squarepoint Ops LLC now owns 146,259 shares of the biotechnology company’s stock worth $1,711,000 after purchasing an additional 126,249 shares during the period. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.