REGENXBIO Inc. (NASDAQ:RGNX) Given Average Rating of “Moderate Buy” by Analysts

REGENXBIO Inc. (NASDAQ:RGNX) has been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $32.78.

Several brokerages have recently issued reports on RGNX. HC Wainwright reduced their price target on REGENXBIO from $36.00 to $34.00 and set a “buy” rating for the company in a report on Monday, March 17th. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Chardan Capital restated a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a report on Thursday, March 20th. The Goldman Sachs Group lowered shares of REGENXBIO from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $38.00 to $14.00 in a research note on Tuesday, February 11th. Finally, Leerink Partners set a $24.00 target price on shares of REGENXBIO in a research report on Tuesday, March 18th.

REGENXBIO Stock Down 1.0 %

RGNX stock opened at $7.83 on Friday. The company has a 50 day moving average of $7.40 and a two-hundred day moving average of $8.79. The company has a market cap of $392.17 million, a price-to-earnings ratio of -1.56 and a beta of 1.35. REGENXBIO has a 12-month low of $5.62 and a 12-month high of $21.57.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings data on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.27) by $0.26. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. The business had revenue of $21.21 million during the quarter, compared to analyst estimates of $23.70 million. On average, research analysts anticipate that REGENXBIO will post -4.84 EPS for the current year.

Institutional Investors Weigh In On REGENXBIO

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in REGENXBIO by 67.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company’s stock valued at $31,975,000 after purchasing an additional 1,659,206 shares during the period. Millennium Management LLC lifted its holdings in shares of REGENXBIO by 406.3% during the fourth quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company’s stock worth $10,222,000 after buying an additional 1,061,187 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of REGENXBIO in the fourth quarter valued at approximately $3,865,000. Norges Bank acquired a new stake in shares of REGENXBIO in the fourth quarter worth $3,474,000. Finally, Cubist Systematic Strategies LLC bought a new position in REGENXBIO during the fourth quarter worth $2,793,000. 88.08% of the stock is owned by institutional investors and hedge funds.

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.