REGENXBIO (NASDAQ:RGNX) Earns “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $39.00 price target on the biotechnology company’s stock.

Several other research analysts have also weighed in on RGNX. Barclays dropped their target price on REGENXBIO from $55.00 to $50.00 and set an overweight rating on the stock in a research report on Monday, August 5th. StockNews.com upgraded shares of REGENXBIO from a sell rating to a hold rating in a research note on Tuesday, June 18th. Finally, 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 target on the stock. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $37.91.

REGENXBIO Stock Performance

RGNX stock opened at $11.48 on Wednesday. The firm has a 50 day simple moving average of $12.28 and a 200 day simple moving average of $15.54. REGENXBIO has a 52 week low of $10.49 and a 52 week high of $28.80. The stock has a market cap of $567.34 million, a P/E ratio of -1.95 and a beta of 1.22.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.24. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 68.21%. The company had revenue of $22.30 million during the quarter, compared to analyst estimates of $22.97 million. During the same quarter last year, the business posted ($1.66) EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts predict that REGENXBIO will post -4.66 EPS for the current year.

Insider Buying and Selling at REGENXBIO

In related news, Director Kenneth T. Mills sold 2,210 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $13.77, for a total transaction of $30,431.70. Following the completion of the transaction, the director now owns 408,035 shares of the company’s stock, valued at approximately $5,618,641.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.56, for a total transaction of $115,600.00. Following the transaction, the director now owns 11,286 shares of the company’s stock, valued at $130,466.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth T. Mills sold 2,210 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $13.77, for a total transaction of $30,431.70. Following the transaction, the director now owns 408,035 shares of the company’s stock, valued at $5,618,641.95. The disclosure for this sale can be found here. Insiders sold 65,279 shares of company stock worth $875,634 over the last ninety days. Company insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RGNX. Charles Schwab Investment Management Inc. grew its position in REGENXBIO by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 327,451 shares of the biotechnology company’s stock worth $5,878,000 after buying an additional 1,683 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of REGENXBIO by 174.4% during the fourth quarter. BNP Paribas Financial Markets now owns 67,760 shares of the biotechnology company’s stock valued at $1,216,000 after purchasing an additional 43,070 shares during the period. Jump Financial LLC acquired a new position in shares of REGENXBIO in the fourth quarter valued at $644,000. Dimensional Fund Advisors LP lifted its position in REGENXBIO by 2.9% in 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. Finally, Panagora Asset Management Inc. lifted its position in REGENXBIO by 2.4% in the fourth quarter. Panagora Asset Management Inc. now owns 222,363 shares of the biotechnology company’s stock worth $3,991,000 after purchasing an additional 5,184 shares during the period. 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.