Barclays Lowers REGENXBIO (NASDAQ:RGNX) Price Target to $50.00

REGENXBIO (NASDAQ:RGNX) had its price target cut by Barclays from $55.00 to $50.00 in a report issued on Monday, Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

A number of other equities research analysts have also issued reports on RGNX. The Goldman Sachs Group began coverage on REGENXBIO in a research report on Friday, June 7th. They set a buy rating and a $38.00 target price on the stock. StockNews.com raised REGENXBIO from a sell rating to a hold rating in a research report on Tuesday, June 18th. HC Wainwright boosted their target price on REGENXBIO from $38.00 to $39.00 and gave the stock a buy rating in a research report on Monday. Finally, Stifel Nicolaus reissued a buy rating and set a $40.00 price target on shares of REGENXBIO in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $38.25.

REGENXBIO Stock Down 1.2 %

Shares of REGENXBIO stock opened at $11.89 on Monday. The firm has a market cap of $585.65 million, a price-to-earnings ratio of -2.02 and a beta of 1.26. The business has a fifty day simple moving average of $12.71 and a 200-day simple moving average of $15.95. REGENXBIO has a fifty-two week low of $10.49 and a fifty-two week high of $28.80.

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

Insider Transactions at REGENXBIO

In other news, Director Kenneth T. Mills sold 2,210 shares of REGENXBIO stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $13.77, for a total transaction of $30,431.70. Following the sale, the director now owns 408,035 shares of the company’s stock, valued at approximately $5,618,641.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Curran Simpson sold 9,648 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.04, for a total transaction of $145,105.92. Following the completion of the transaction, the chief executive officer now owns 170,137 shares in the company, valued at approximately $2,558,860.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth T. Mills sold 2,210 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $13.77, for a total value of $30,431.70. Following the transaction, the director now owns 408,035 shares of the company’s stock, valued at approximately $5,618,641.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,279 shares of company stock valued at $997,184. 13.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On REGENXBIO

Hedge funds and other institutional investors have recently modified their holdings of the stock. Perceptive Advisors LLC bought a new position in REGENXBIO in the 4th quarter valued at $6,146,000. Mirae Asset Global Investments Co. Ltd. raised its position in 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 purchasing an additional 75,800 shares during the last quarter. Virtu Financial LLC bought a new position in REGENXBIO in the 4th quarter valued at $377,000. ProShare Advisors LLC raised its position in REGENXBIO by 8.3% in the 1st quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock valued at $240,000 after purchasing an additional 874 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in REGENXBIO by 174.4% in the 4th quarter. BNP Paribas Financial Markets now owns 67,760 shares of the biotechnology company’s stock valued at $1,216,000 after purchasing an additional 43,070 shares during the last quarter. 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.