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

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $38.58.

Several research analysts have issued reports on RGNX shares. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $40.00 price target on shares of REGENXBIO in a report on Friday, April 12th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of REGENXBIO in a report on Thursday, June 20th. Finally, The Goldman Sachs Group started coverage on REGENXBIO in a report on Friday, June 7th. They issued a “buy” rating and a $38.00 price target on the stock.

REGENXBIO Price Performance

Shares of NASDAQ:RGNX opened at $12.58 on Monday. REGENXBIO has a 12 month low of $10.49 and a 12 month high of $28.80. The stock has a market cap of $619.69 million, a price-to-earnings ratio of -2.14 and a beta of 1.26. The stock’s 50 day moving average price is $13.26 and its 200 day moving average price is $16.15.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.28) by ($0.10). REGENXBIO had a negative return on equity of 70.72% and a negative net margin of 299.96%. The firm had revenue of $15.60 million for the quarter, compared to the consensus estimate of $23.52 million. During the same period in the previous year, the firm earned ($1.53) EPS. REGENXBIO’s revenue for the quarter was down 18.3% on a year-over-year basis. On average, sell-side analysts expect that REGENXBIO will post -4.37 EPS for the current year.

Insiders Place Their Bets

In other news, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $11.27, for a total transaction of $112,700.00. Following the transaction, the director now directly owns 11,286 shares in the company, valued at approximately $127,193.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Argeris N. Karabelas sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $11.27, for a total value of $112,700.00. Following the transaction, the director now directly owns 11,286 shares of the company’s stock, valued at $127,193.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.81, for a total transaction of $237,150.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at $6,451,033.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,210 shares of company stock worth $380,282. Corporate insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

A number of hedge funds have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. increased its stake in shares of REGENXBIO by 26.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 134,190 shares of the biotechnology company’s stock worth $1,570,000 after acquiring an additional 27,906 shares during the last quarter. Assenagon Asset Management S.A. increased its position in REGENXBIO by 258.7% during the second quarter. Assenagon Asset Management S.A. now owns 816,384 shares of the biotechnology company’s stock worth $9,552,000 after buying an additional 588,773 shares during the last quarter. Diversified Trust Co acquired a new position in REGENXBIO during the second quarter worth $121,000. Artal Group S.A. acquired a new position in REGENXBIO during the first quarter worth $5,268,000. Finally, Redmile Group LLC increased its position in REGENXBIO by 21.0% during the first quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company’s stock worth $95,901,000 after buying an additional 790,866 shares during the last quarter. 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.