REGENXBIO Inc. (NASDAQ:RGNX) Receives Average Rating of “Moderate Buy” from Analysts

REGENXBIO Inc. (NASDAQ:RGNX) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $33.88.

A number of research firms have weighed in on RGNX. Raymond James began coverage on REGENXBIO in a research report on Friday, February 7th. They set an “outperform” rating and a $27.00 price target for the company. Morgan Stanley increased their target price on shares of REGENXBIO from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. The Goldman Sachs Group lowered shares of REGENXBIO from a “buy” rating to a “neutral” rating and lowered their price target for the company from $38.00 to $14.00 in a research note on Tuesday, February 11th. Chardan Capital restated a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Thursday. Finally, HC Wainwright lowered their target price on REGENXBIO from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, March 17th.

Institutional Investors Weigh In On REGENXBIO

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC grew its holdings in REGENXBIO by 166.8% during the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 1,656 shares during the period. GAMMA Investing LLC lifted its position in shares of REGENXBIO by 273.1% in the fourth quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 2,510 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of REGENXBIO during the 4th quarter worth approximately $54,000. Dynamic Technology Lab Private Ltd bought a new position in shares of REGENXBIO during the 4th quarter worth approximately $79,000. Finally, Laurion Capital Management LP acquired a new position in shares of REGENXBIO during the 4th quarter worth approximately $79,000. 88.08% of the stock is owned by institutional investors.

REGENXBIO Trading Down 1.4 %

RGNX opened at $8.24 on Friday. The firm’s fifty day simple moving average is $7.30 and its 200 day simple moving average is $8.90. The stock has a market capitalization of $408.25 million, a P/E ratio of -1.64 and a beta of 1.35. REGENXBIO has a 12 month low of $5.62 and a 12 month high of $22.84.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data 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 company had revenue of $21.21 million during the quarter, compared to analysts’ expectations of $23.70 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. On average, equities research analysts predict that REGENXBIO will post -4.84 EPS for the current fiscal year.

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.