Brokerages Set REGENXBIO Inc. (NASDAQ:RGNX) PT at $31.63

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $31.63.

A number of equities research analysts have recently issued reports on RGNX shares. Chardan Capital reaffirmed a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a report on Thursday, March 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price objective on shares of REGENXBIO in a report on Tuesday, January 21st. The Goldman Sachs Group dropped their price objective on shares of REGENXBIO from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Leerink Partners set a $24.00 price objective on shares of REGENXBIO in a report on Tuesday, March 18th. Finally, Raymond James began coverage on shares of REGENXBIO in a report on Friday, February 7th. They issued an “outperform” rating and a $27.00 price objective for the company.

REGENXBIO Stock Up 3.7%

REGENXBIO stock opened at $8.64 on Friday. REGENXBIO has a 52-week low of $5.04 and a 52-week high of $16.26. The firm has a market capitalization of $433.01 million, a price-to-earnings ratio of -1.72 and a beta of 1.11. The company has a fifty day simple moving average of $7.48 and a 200-day simple moving average of $7.98.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Monday, May 12th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.29). REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. The business had revenue of $89.01 million for the quarter, compared to analysts’ expectations of $105.35 million. On average, research analysts anticipate that REGENXBIO will post -4.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other REGENXBIO news, Director Kenneth T. Mills sold 20,602 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $7.91, for a total transaction of $162,961.82. Following the completion of the transaction, the director now owns 475,103 shares of the company’s stock, valued at $3,758,064.73. This trade represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 12.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RGNX. GAMMA Investing LLC lifted its position in shares of REGENXBIO by 273.1% during the fourth quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 2,510 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of REGENXBIO during the first quarter worth about $35,000. Brooklyn Investment Group lifted its position in shares of REGENXBIO by 163.7% during the first quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 3,466 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of REGENXBIO during the fourth quarter worth about $54,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of REGENXBIO during the first quarter worth about $74,000. 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.