Brokerages Set REGENXBIO Inc. (NASDAQ:RGNX) PT at $23.55

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have received a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $23.5455.

A number of equities research analysts have weighed in on the company. Bank of America reduced their target price on REGENXBIO from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of REGENXBIO in a report on Monday, June 8th. HC Wainwright reduced their target price on REGENXBIO from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Morgan Stanley set a $16.00 target price on REGENXBIO in a report on Friday, May 15th. Finally, Barclays reduced their target price on REGENXBIO from $37.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, May 15th.

Insider Activity at REGENXBIO

In other news, insider Steve Pakola sold 15,309 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $11.02, for a total value of $168,705.18. Following the completion of the transaction, the insider directly owned 232,617 shares in the company, valued at approximately $2,563,439.34. This represents a 6.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.22% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of REGENXBIO by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company’s stock valued at $38,959,000 after acquiring an additional 185,223 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of REGENXBIO by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 3,374,140 shares of the biotechnology company’s stock valued at $48,588,000 after acquiring an additional 36,042 shares during the last quarter. State Street Corp lifted its stake in shares of REGENXBIO by 15.2% in the 4th quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock valued at $32,929,000 after acquiring an additional 301,858 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of REGENXBIO by 5.6% in the 4th quarter. AQR Capital Management LLC now owns 1,361,962 shares of the biotechnology company’s stock valued at $19,612,000 after acquiring an additional 72,307 shares during the last quarter. Finally, Integral Health Asset Management LLC lifted its stake in shares of REGENXBIO by 9.1% in the 4th quarter. Integral Health Asset Management LLC now owns 1,200,000 shares of the biotechnology company’s stock valued at $17,280,000 after acquiring an additional 100,000 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Stock Performance

Shares of RGNX stock opened at $7.80 on Monday. The stock’s fifty day moving average price is $7.86 and its two-hundred day moving average price is $10.03. The company has a market cap of $403.26 million, a PE ratio of -1.39 and a beta of 1.04. REGENXBIO has a fifty-two week low of $5.45 and a fifty-two week high of $16.19.

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

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.