HC Wainwright Reiterates “Buy” Rating for REGENXBIO (NASDAQ:RGNX)

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $26.00 target price on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 154.90% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. Leerink Partners boosted their price objective on shares of REGENXBIO from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Monday. Morgan Stanley set a $16.00 price target on shares of REGENXBIO in a research note on Friday, May 15th. Robert W. Baird increased their price target on shares of REGENXBIO from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday. Bank of America reduced their price objective on shares of REGENXBIO from $25.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of REGENXBIO in a report on Monday, June 8th. Ten investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.82.

REGENXBIO Stock Up 2.5%

NASDAQ:RGNX traded up $0.25 during mid-day trading on Wednesday, reaching $10.20. 1,199,701 shares of the stock were exchanged, compared to its average volume of 1,272,921. The stock has a market capitalization of $527.34 million, a P/E ratio of -1.82 and a beta of 1.04. The company has a 50 day simple moving average of $7.89 and a 200-day simple moving average of $9.98. REGENXBIO has a 1 year low of $5.45 and a 1 year high of $16.19.

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

Insider Activity

In other news, insider Steve Pakola sold 15,309 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $11.02, for a total value of $168,705.18. Following the sale, the insider directly owned 232,617 shares in the company, valued at $2,563,439.34. This represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 14.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On REGENXBIO

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

About REGENXBIO

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.