REGENXBIO (NASDAQ:RGNX) PT Raised to $39.00 at HC Wainwright

REGENXBIO (NASDAQ:RGNX) had its target price boosted by HC Wainwright from $38.00 to $39.00 in a report published on Monday, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Several other equities analysts have also recently issued reports on the stock. Stifel Nicolaus reissued a buy rating and issued a $40.00 price objective on shares of REGENXBIO in a research note on Friday, April 12th. The Goldman Sachs Group began coverage on shares of REGENXBIO in a research note on Friday, June 7th. They set a buy rating and a $38.00 price target on the stock. Finally, StockNews.com raised REGENXBIO from a sell rating to a hold rating in a report on Tuesday, June 18th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $38.25.

REGENXBIO Trading Up 1.4 %

NASDAQ RGNX traded up $0.18 during trading on Monday, reaching $12.69. The company’s stock had a trading volume of 557,598 shares, compared to its average volume of 641,934. REGENXBIO has a twelve month low of $10.49 and a twelve month high of $28.80. The business’s fifty day moving average price is $12.90 and its 200-day moving average price is $16.02.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.24. REGENXBIO had a negative return on equity of 67.88% and a negative net margin of 270.74%. The firm had revenue of $22.30 million for the quarter, compared to analysts’ expectations of $22.97 million. During the same quarter in the previous year, the firm posted ($1.66) EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts expect that REGENXBIO will post -4.37 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were 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 of the company’s stock, valued at approximately $6,451,033.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, 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 value of $237,150.00. Following the sale, the chief executive officer now directly owns 408,035 shares in the company, valued at $6,451,033.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $11.27, for a total value of $112,700.00. Following the sale, the director now owns 11,286 shares of the company’s stock, valued at approximately $127,193.22. The disclosure for this sale can be found here. Insiders have sold 70,279 shares of company stock worth $997,184 in the last three months. Corporate insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Institutional investors and hedge funds have recently modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its stake in REGENXBIO by 98.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 74,600 shares of the biotechnology company’s stock worth $1,376,000 after buying an additional 37,000 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of REGENXBIO during the 4th quarter worth about $363,000. Charles Schwab Investment Management Inc. boosted its position in shares of REGENXBIO by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 327,451 shares of the biotechnology company’s stock worth $5,878,000 after acquiring an additional 1,683 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of REGENXBIO by 174.4% in the fourth quarter. BNP Paribas Financial Markets now owns 67,760 shares of the biotechnology company’s stock worth $1,216,000 after acquiring an additional 43,070 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in REGENXBIO in the fourth quarter valued at approximately $644,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.