REGENXBIO (NASDAQ:RGNX) Shares Gap Up – Still a Buy?

REGENXBIO Inc. (NASDAQ:RGNX) shares gapped up prior to trading on Monday . The stock had previously closed at $10.48, but opened at $11.12. REGENXBIO shares last traded at $11.1340, with a volume of 384,390 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have commented on RGNX. Barclays dropped their price objective on shares of REGENXBIO from $37.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 15th. Weiss Ratings restated a “sell (e+)” rating on shares of REGENXBIO in a report on Monday, June 8th. Leerink Partners lifted their price target on shares of REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Robert W. Baird lifted their price target on shares of REGENXBIO from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Finally, HC Wainwright reiterated a “buy” rating and set a $26.00 price target on shares of REGENXBIO in a report on Wednesday, June 24th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, REGENXBIO currently has an average rating of “Moderate Buy” and a consensus target price of $23.82.

REGENXBIO Price Performance

The firm has a market capitalization of $619.37 million, a P/E ratio of -2.14 and a beta of 1.04. The firm has a 50-day moving average price of $8.05 and a two-hundred day moving average price of $9.91.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) EPS for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.36). REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%.The company had revenue of $6.39 million during the quarter, compared to the consensus estimate of $25.84 million. Sell-side analysts predict that REGENXBIO Inc. will post -3.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Steve Pakola sold 15,309 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $11.02, for a total transaction of $168,705.18. Following the transaction, the insider directly owned 232,617 shares of the company’s stock, valued at approximately $2,563,439.34. This trade represents a 6.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 14.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RGNX. Deutsche Bank AG grew its position in shares of REGENXBIO by 0.8% during the 4th quarter. Deutsche Bank AG now owns 192,582 shares of the biotechnology company’s stock worth $2,773,000 after buying an additional 1,527 shares in the last quarter. Captrust Financial Advisors grew its holdings in REGENXBIO by 13.2% during the 4th quarter. Captrust Financial Advisors now owns 15,228 shares of the biotechnology company’s stock worth $219,000 after acquiring an additional 1,781 shares in the last quarter. Diversified Trust Co grew its holdings in REGENXBIO by 15.9% during the 1st quarter. Diversified Trust Co now owns 15,499 shares of the biotechnology company’s stock worth $130,000 after acquiring an additional 2,121 shares in the last quarter. Intech Investment Management LLC increased its position in REGENXBIO by 12.2% during the 4th quarter. Intech Investment Management LLC now owns 21,367 shares of the biotechnology company’s stock valued at $308,000 after purchasing an additional 2,327 shares during the period. Finally, Focus Partners Advisor Solutions LLC increased its position in REGENXBIO by 24.0% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 12,676 shares of the biotechnology company’s stock valued at $183,000 after purchasing an additional 2,455 shares during the period. Institutional investors own 88.08% of the company’s stock.

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.