REGENXBIO (NASDAQ:RGNX) Shares Gap Up – Here’s Why

REGENXBIO Inc. (NASDAQ:RGNX) gapped up before the market opened on Thursday . The stock had previously closed at $9.43, but opened at $10.20. REGENXBIO shares last traded at $11.16, with a volume of 217,848 shares traded.

Analyst Ratings Changes

A number of equities analysts have weighed in on RGNX shares. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Barclays decreased their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. HC Wainwright reaffirmed a “buy” rating and issued a $39.00 target price on shares of REGENXBIO in a research report on Wednesday, September 4th. Raymond James reiterated an “outperform” rating and issued a $18.00 price target on shares of REGENXBIO in a research note on Thursday, October 10th. Finally, Chardan Capital reiterated a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.45.

REGENXBIO Trading Up 19.1 %

The firm has a market capitalization of $554.99 million, a P/E ratio of -2.03 and a beta of 1.23. The company has a 50-day moving average of $10.62 and a 200-day moving average of $12.53.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Wednesday, November 6th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.01). The company had revenue of $24.20 million for the quarter, compared to the consensus estimate of $21.35 million. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. Research analysts predict that REGENXBIO Inc. will post -4.66 EPS for the current year.

Insider Buying and Selling

In related news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total transaction of $101,100.00. Following the completion of the transaction, the director now directly owns 11,286 shares of the company’s stock, valued at $114,101.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 13.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RGNX. Allspring Global Investments Holdings LLC bought a new position in shares of REGENXBIO in the 1st quarter worth about $56,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of REGENXBIO by 80.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 170,218 shares of the biotechnology company’s stock valued at $3,586,000 after buying an additional 75,800 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of REGENXBIO in the 1st quarter valued at about $304,000. Swiss National Bank grew its stake in shares of REGENXBIO by 4.5% in the 1st quarter. Swiss National Bank now owns 81,500 shares of the biotechnology company’s stock valued at $1,717,000 after buying an additional 3,500 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of REGENXBIO in the 1st quarter valued at about $2,172,000. 88.08% of the stock is owned by institutional investors.

REGENXBIO Company Profile

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.