REGENXBIO (NASDAQ:RGNX) Price Target Lowered to $34.00 at HC Wainwright

REGENXBIO (NASDAQ:RGNX) had its price target reduced by investment analysts at HC Wainwright from $36.00 to $34.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 405.95% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Morgan Stanley raised their target price on shares of REGENXBIO from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group downgraded REGENXBIO from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $38.00 to $14.00 in a report on Tuesday, February 11th. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Royal Bank of Canada restated an “outperform” rating and set a $30.00 price target on shares of REGENXBIO in a research note on Tuesday, January 21st. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a research note on Friday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.88.

REGENXBIO Stock Performance

Shares of NASDAQ RGNX opened at $6.72 on Monday. The business’s 50 day moving average price is $7.31 and its 200-day moving average price is $9.00. REGENXBIO has a fifty-two week low of $5.62 and a fifty-two week high of $23.14. The company has a market cap of $332.94 million, a price-to-earnings ratio of -1.34 and a beta of 1.35.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share for the quarter, topping the consensus estimate of ($1.27) by $0.26. The business had revenue of $21.21 million during the quarter, compared to the consensus estimate of $23.70 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. Sell-side analysts predict that REGENXBIO will post -4.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in REGENXBIO by 166.8% in the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 1,656 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of REGENXBIO by 273.1% during the 4th quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 2,510 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of REGENXBIO during the 4th quarter valued at $54,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of REGENXBIO in the 4th quarter worth $79,000. Finally, Laurion Capital Management LP purchased a new position in REGENXBIO during the 4th quarter worth $79,000. 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.