Chardan Capital Lowers Regenxbio (RGNX) Price Target to $127.50

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Regenxbio (NASDAQ:RGNX) had its price objective trimmed by Chardan Capital from $130.00 to $127.50 in a research note published on Wednesday, August 8th. The brokerage currently has a buy rating on the biotechnology company’s stock.

Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of Regenxbio from a strong-buy rating to a buy rating in a report on Wednesday, July 25th. Raymond James set a $45.00 price target on shares of Regenxbio and gave the company a buy rating in a report on Tuesday, May 8th. ValuEngine raised shares of Regenxbio from a hold rating to a buy rating in a report on Friday, May 11th. TheStreet raised shares of Regenxbio from a d+ rating to a c rating in a report on Friday, May 11th. Finally, Bank of America downgraded shares of Regenxbio from a buy rating to a neutral rating and increased their price target for the company from $64.00 to $80.00 in a report on Monday, July 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $74.79.

NASDAQ RGNX opened at $70.45 on Wednesday. Regenxbio has a 1 year low of $20.45 and a 1 year high of $85.10. The firm has a market cap of $2.16 billion, a P/E ratio of -28.76, a PEG ratio of 8.35 and a beta of -1.16.

Regenxbio (NASDAQ:RGNX) last issued its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.93). Regenxbio had a net margin of 44.44% and a return on equity of 28.70%. The company had revenue of $40.03 million during the quarter, compared to the consensus estimate of $100.00 million. analysts anticipate that Regenxbio will post 2.63 earnings per share for the current year.

In other news, SVP Patrick J. Christmas sold 5,000 shares of the stock in a transaction on Monday, June 18th. The shares were sold at an average price of $56.78, for a total value of $283,900.00. Following the completion of the transaction, the senior vice president now owns 21,141 shares in the company, valued at approximately $1,200,385.98. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vittal Vasista sold 7,500 shares of the stock in a transaction on Friday, June 15th. The shares were sold at an average price of $56.61, for a total transaction of $424,575.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,010 shares of company stock valued at $3,750,815. Corporate insiders own 16.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Meadow Creek Investment Management LLC acquired a new stake in shares of Regenxbio during the 2nd quarter worth about $141,000. Meeder Asset Management Inc. increased its position in shares of Regenxbio by 1,212.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,178 shares of the biotechnology company’s stock worth $156,000 after purchasing an additional 2,012 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Regenxbio during the 2nd quarter worth about $157,000. Glen Harbor Capital Management LLC acquired a new stake in shares of Regenxbio during the 2nd quarter worth about $171,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Regenxbio during the 2nd quarter worth about $179,000. Institutional investors own 80.82% of the company’s stock.

Regenxbio Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.

Further Reading: Short Selling – Explanation For Shorting Stocks

Analyst Recommendations for Regenxbio (NASDAQ:RGNX)

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