Barclays Lowers REGENXBIO (NASDAQ:RGNX) Price Target to $50.00

REGENXBIO (NASDAQ:RGNX) had its price objective decreased by Barclays from $55.00 to $50.00 in a report issued on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the biotechnology company’s stock.

A number of other research firms have also recently commented on RGNX. HC Wainwright lifted their target price on shares of REGENXBIO from $38.00 to $39.00 and gave the stock a buy rating in a research note on Monday. Stifel Nicolaus reiterated a buy rating and issued a $40.00 target price on shares of REGENXBIO in a research note on Friday, April 12th. The Goldman Sachs Group started coverage on shares of REGENXBIO in a research note on Friday, June 7th. They set a buy rating and a $38.00 price objective for the company. Finally, StockNews.com upgraded shares of REGENXBIO from a sell rating to a hold rating in a research note on Tuesday, June 18th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $38.25.

REGENXBIO Stock Down 1.2 %

RGNX stock opened at $11.89 on Monday. The firm has a 50 day moving average of $12.71 and a 200 day moving average of $15.95. The stock has a market capitalization of $585.65 million, a PE ratio of -2.02 and a beta of 1.26. REGENXBIO has a 52 week low of $10.49 and a 52 week high of $28.80.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.24. The company had revenue of $22.30 million during the quarter, compared to analysts’ expectations of $22.97 million. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 67.88%. REGENXBIO’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the business earned ($1.66) EPS. On average, equities research analysts expect that REGENXBIO will post -4.37 earnings per share for the current year.

Insider Activity

In other news, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.81, for a total transaction of $237,150.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at approximately $6,451,033.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Kenneth T. Mills sold 2,210 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $13.77, for a total value of $30,431.70. Following the completion of the sale, the director now owns 408,035 shares of the company’s stock, valued at approximately $5,618,641.95. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.81, for a total transaction of $237,150.00. Following the completion of the sale, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at approximately $6,451,033.35. The disclosure for this sale can be found here. Insiders sold a total of 70,279 shares of company stock valued at $997,184 in the last three months. 13.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On REGENXBIO

A number of large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in shares of REGENXBIO by 73.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after buying an additional 746 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of REGENXBIO by 8.3% during the first quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock worth $240,000 after buying an additional 874 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of REGENXBIO by 7.2% during the second quarter. Maryland State Retirement & Pension System now owns 15,800 shares of the biotechnology company’s stock worth $185,000 after buying an additional 1,067 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of REGENXBIO by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock worth $383,000 after buying an additional 1,438 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of REGENXBIO by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 327,451 shares of the biotechnology company’s stock valued at $5,878,000 after acquiring an additional 1,683 shares during the last quarter. Hedge funds and other institutional investors 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.