Raymond James Reaffirms Outperform Rating for REGENXBIO (NASDAQ:RGNX)

Raymond James reaffirmed their outperform rating on shares of REGENXBIO (NASDAQ:RGNX) in a report published on Thursday, MarketBeat Ratings reports. They currently have a $18.00 price objective on the biotechnology company’s stock.

Several other brokerages have also commented on RGNX. HC Wainwright reaffirmed a buy rating and issued a $39.00 price objective on shares of REGENXBIO in a research report on Wednesday, September 4th. Barclays lowered their price target on shares of REGENXBIO from $55.00 to $50.00 and set an overweight rating on the stock in a report on Monday, August 5th. Finally, StockNews.com raised REGENXBIO from a sell rating to a hold rating in a report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $35.45.

REGENXBIO Stock Up 6.5 %

REGENXBIO stock opened at $9.89 on Thursday. The stock has a market cap of $487.14 million, a P/E ratio of -1.68 and a beta of 1.21. The company’s 50 day moving average price is $11.50 and its two-hundred day moving average price is $13.66. REGENXBIO has a 52 week low of $9.11 and a 52 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.24. The firm had revenue of $22.30 million during the quarter, compared to the consensus estimate of $22.97 million. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.66) EPS. On average, equities analysts anticipate that REGENXBIO will post -4.66 EPS for the current year.

Insider Buying and Selling

In other news, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 11,286 shares in the company, valued at $114,101.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $101,100.00. Following the sale, the director now directly owns 11,286 shares of the company’s stock, valued at $114,101.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kenneth T. Mills sold 12,221 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $13.78, for a total transaction of $168,405.38. Following the completion of the transaction, the director now directly owns 408,035 shares of the company’s stock, valued at approximately $5,622,722.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,279 shares of company stock valued at $864,034. Company insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Several hedge funds have recently added to or reduced their stakes in RGNX. PNC Financial Services Group Inc. lifted its position in REGENXBIO by 73.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after buying an additional 746 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of REGENXBIO by 8.3% in 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. Maryland State Retirement & Pension System boosted its stake in shares of REGENXBIO by 7.2% in the 2nd quarter. Maryland State Retirement & Pension System now owns 15,800 shares of the biotechnology company’s stock valued at $185,000 after purchasing an additional 1,067 shares in the last quarter. Amalgamated Bank raised its position in REGENXBIO by 9.9% in the 2nd quarter. Amalgamated Bank now owns 13,613 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 1,227 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in REGENXBIO by 8.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock worth $383,000 after purchasing an additional 1,438 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.