HC Wainwright Has Lowered Expectations for REGENXBIO (NASDAQ:RGNX) Stock Price

REGENXBIO (NASDAQ:RGNX) had its target price cut by analysts at HC Wainwright from $36.00 to $34.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 335.90% from the stock’s previous close.

RGNX has been the subject of several other research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price target on shares of REGENXBIO in a report on Tuesday, January 21st. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. The Goldman Sachs Group cut shares of REGENXBIO from a “buy” rating to a “neutral” rating and decreased their target price for the company from $38.00 to $14.00 in a research report on Tuesday, February 11th. Raymond James initiated coverage on shares of REGENXBIO in a research note on Friday, February 7th. They set an “outperform” rating and a $27.00 price target on the stock. Finally, Morgan Stanley upped their target price on shares of REGENXBIO from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, REGENXBIO presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.88.

REGENXBIO Stock Performance

NASDAQ:RGNX opened at $7.80 on Monday. The company’s 50-day simple moving average is $7.28 and its 200-day simple moving average is $8.94. The stock has a market capitalization of $386.45 million, a P/E ratio of -1.55 and a beta of 1.35. REGENXBIO has a fifty-two week low of $5.62 and a fifty-two week high of $23.14.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) EPS for the quarter, topping analysts’ consensus estimates of ($1.27) by $0.26. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. The company had revenue of $21.21 million during the quarter, compared to analysts’ expectations of $23.70 million. On average, research analysts forecast that REGENXBIO will post -4.84 EPS for the current year.

Institutional Trading of REGENXBIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of REGENXBIO by 166.8% in the 3rd 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 during the last quarter. GAMMA Investing LLC increased its holdings in shares of REGENXBIO by 273.1% in the 4th quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 2,510 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of REGENXBIO in the 4th quarter valued at approximately $54,000. Dynamic Technology Lab Private Ltd bought a new position in REGENXBIO during the 4th quarter worth $79,000. Finally, Laurion Capital Management LP bought 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.