REGENXBIO’s (RGNX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a $38.00 target price on the biotechnology company’s stock.

Several other research analysts have also recently commented on RGNX. Stifel Nicolaus reaffirmed a buy rating and set a $40.00 target price on shares of REGENXBIO in a report on Friday, April 12th. Royal Bank of Canada raised shares of REGENXBIO from a sector perform rating to an outperform rating and raised their target price for the stock from $20.00 to $35.00 in a report on Friday, March 8th. Wedbush reaffirmed a neutral rating and set a $21.00 target price on shares of REGENXBIO in a report on Wednesday, February 28th. The Goldman Sachs Group started coverage on shares of REGENXBIO in a report on Friday, June 7th. They set a buy rating and a $38.00 target price on the stock. Finally, Raymond James reissued an outperform rating and issued a $45.00 price objective on shares of REGENXBIO in a research note on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $38.58.

REGENXBIO Stock Up 1.2 %

REGENXBIO stock opened at $12.02 on Thursday. The stock has a market cap of $592.11 million, a P/E ratio of -2.04 and a beta of 1.34. REGENXBIO has a twelve month low of $11.43 and a twelve month high of $28.80. The company’s 50-day moving average price is $15.06 and its two-hundred day moving average price is $17.15.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.28) by ($0.10). The company had revenue of $15.60 million during the quarter, compared to the consensus estimate of $23.52 million. REGENXBIO had a negative net margin of 299.96% and a negative return on equity of 70.72%. The firm’s revenue was down 18.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.53) earnings per share. Equities analysts anticipate that REGENXBIO will post -3.9 earnings per share for the current fiscal year.

Insider Buying and Selling at REGENXBIO

In other REGENXBIO news, CEO Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $18.19, for a total value of $272,850.00. Following the sale, the chief executive officer now owns 408,035 shares in the company, valued at $7,422,156.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of REGENXBIO by 9.8% during the first quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company’s stock worth $102,756,000 after purchasing an additional 436,043 shares during the period. Redmile Group LLC lifted its holdings in shares of REGENXBIO by 21.0% during the first quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company’s stock worth $95,901,000 after purchasing an additional 790,866 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of REGENXBIO by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,226,957 shares of the biotechnology company’s stock worth $22,025,000 after purchasing an additional 34,385 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of REGENXBIO by 0.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 562,391 shares of the biotechnology company’s stock worth $9,257,000 after purchasing an additional 1,493 shares during the period. Finally, Perceptive Advisors LLC acquired a new position in shares of REGENXBIO during the fourth quarter worth $6,146,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.