REGENXBIO (NASDAQ:RGNX) Stock Price Expected to Rise, HC Wainwright Analyst Says

REGENXBIO (NASDAQ:RGNX) had its target price upped by equities researchers at HC Wainwright from $39.00 to $40.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 256.51% from the company’s previous close.

Other analysts also recently issued research reports about the company. Barclays cut their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Chardan Capital reiterated a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a research report on Tuesday, October 22nd. Raymond James reiterated an “outperform” rating and set a $18.00 price target on shares of REGENXBIO in a research report on Thursday, October 10th. Finally, StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.55.

REGENXBIO Stock Up 19.0 %

NASDAQ:RGNX traded up $1.79 during trading hours on Thursday, reaching $11.22. 1,478,859 shares of the stock were exchanged, compared to its average volume of 594,913. The firm has a 50 day simple moving average of $10.62 and a 200-day simple moving average of $12.53. REGENXBIO has a 52 week low of $8.53 and a 52 week high of $28.80. The stock has a market capitalization of $554.49 million, a P/E ratio of -2.14 and a beta of 1.23.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Wednesday, November 6th. The biotechnology company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.01). The firm 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%. As a group, analysts expect that REGENXBIO will post -4.66 earnings per share for the current year.

Insider Activity at REGENXBIO

In related news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total transaction of $101,100.00. Following the transaction, the director now owns 11,286 shares of the company’s stock, valued at approximately $114,101.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of REGENXBIO by 80.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 170,218 shares of the biotechnology company’s stock valued at $3,586,000 after purchasing an additional 75,800 shares during the period. Integral Health Asset Management LLC increased its stake in shares of REGENXBIO by 25.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company’s stock valued at $11,115,000 after acquiring an additional 190,000 shares during the last quarter. Quest Partners LLC grew its position in shares of REGENXBIO by 11,731.0% in the 2nd quarter. Quest Partners LLC now owns 42,000 shares of the biotechnology company’s stock valued at $491,000 after purchasing an additional 41,645 shares during the period. ProShare Advisors LLC boosted its position in REGENXBIO by 8.3% during the 1st quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock worth $240,000 after acquiring an additional 874 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in REGENXBIO by 630.9% during the 2nd quarter. Squarepoint Ops LLC now owns 146,259 shares of the biotechnology company’s stock worth $1,711,000 after acquiring an additional 126,249 shares during the last quarter. Institutional investors own 88.08% of the company’s stock.

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.