Analysts Set REGENXBIO Inc. (NASDAQ:RGNX) Target Price at $37.91

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have received an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $37.91.

A number of research firms have commented on RGNX. Barclays reduced their price objective on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. HC Wainwright restated a “buy” rating and set a $39.00 price objective on shares of REGENXBIO in a research note on Wednesday. Finally, The Goldman Sachs Group assumed coverage on REGENXBIO in a research report on Friday, June 7th. They issued a “buy” rating and a $38.00 target price for the company.

Insider Buying and Selling

In related news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $11.27, for a total value of $112,700.00. Following the sale, the director now owns 11,286 shares of the company’s stock, valued at approximately $127,193.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other REGENXBIO news, Director Argeris N. Karabelas sold 11,000 shares of REGENXBIO stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.04, for a total transaction of $165,440.00. Following the sale, the director now owns 11,286 shares of the company’s stock, valued at approximately $169,741.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction on Monday, July 1st. The shares were sold at an average price of $11.27, for a total value of $112,700.00. Following the sale, the director now directly owns 11,286 shares in the company, valued at approximately $127,193.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,279 shares of company stock valued at $875,634. Insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

Several hedge funds have recently added to or reduced their stakes in RGNX. PNC Financial Services Group Inc. raised its stake in REGENXBIO by 73.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 746 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in REGENXBIO during the 1st quarter valued at $56,000. Headlands Technologies LLC raised its stake in REGENXBIO by 276.8% during the 1st quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock valued at $81,000 after acquiring an additional 2,812 shares in the last quarter. Diversified Trust Co bought a new stake in REGENXBIO during the 2nd quarter valued at $121,000. Finally, Arizona State Retirement System increased its position in shares of REGENXBIO by 20.6% during the 2nd quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock valued at $137,000 after purchasing an additional 1,997 shares during the period. Institutional investors own 88.08% of the company’s stock.

REGENXBIO Stock Performance

NASDAQ RGNX opened at $11.48 on Tuesday. The business has a 50 day moving average price of $12.28 and a two-hundred day moving average price of $15.52. REGENXBIO has a fifty-two week low of $10.49 and a fifty-two week high of $28.80.

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

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.