REGENXBIO (NASDAQ:RGNX) Shares Gap Up – Time to Buy?

REGENXBIO Inc. (NASDAQ:RGNX) shares gapped up prior to trading on Monday . The stock had previously closed at $8.65, but opened at $9.75. REGENXBIO shares last traded at $10.43, with a volume of 787,850 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on RGNX. UBS Group restated an “overweight” rating and set a $18.00 target price on shares of REGENXBIO in a research report on Tuesday, February 10th. Barclays assumed coverage on shares of REGENXBIO in a report on Tuesday, January 27th. They issued an “overweight” rating and a $37.00 target price for the company. Chardan Capital decreased their price target on REGENXBIO from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Wall Street Zen cut REGENXBIO from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Finally, Robert W. Baird set a $27.00 price objective on REGENXBIO in a research note on Tuesday, February 10th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, REGENXBIO currently has an average rating of “Moderate Buy” and an average target price of $27.50.

REGENXBIO Price Performance

The company has a market cap of $544.49 million, a PE ratio of -2.81 and a beta of 1.08. The firm has a 50-day simple moving average of $11.47 and a two-hundred day simple moving average of $11.44.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Thursday, March 5th. The biotechnology company reported ($1.30) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.29). The company had revenue of $30.34 million for the quarter, compared to analyst estimates of $45.48 million. REGENXBIO had a negative net margin of 113.75% and a negative return on equity of 103.12%. Equities research analysts forecast that REGENXBIO Inc. will post -4.84 EPS for the current year.

Institutional Investors Weigh In On REGENXBIO

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new position in shares of REGENXBIO during the third quarter valued at approximately $25,000. Aquatic Capital Management LLC purchased a new stake in REGENXBIO in the 3rd quarter worth approximately $37,000. Jones Financial Companies Lllp raised its holdings in REGENXBIO by 44.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 1,270 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of REGENXBIO by 754.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 5,000 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in shares of REGENXBIO during the second quarter worth $85,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

REGENXBIO Company Profile

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO’s pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.