REGENXBIO (NASDAQ:RGNX) Earns Buy Rating from Chardan Capital

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating restated by analysts at Chardan Capital in a research report issued on Tuesday, Benzinga reports. They presently have a $52.00 price objective on the biotechnology company’s stock. Chardan Capital’s price target would suggest a potential upside of 401.45% from the stock’s previous close.

RGNX has been the subject of a number of other reports. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. HC Wainwright reaffirmed a “buy” rating and set a $39.00 target price on shares of REGENXBIO in a report on Wednesday, September 4th. Barclays cut their price target on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, Raymond James restated an “outperform” rating and set a $18.00 target price on shares of REGENXBIO in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, REGENXBIO currently has an average rating of “Moderate Buy” and a consensus target price of $35.45.

REGENXBIO Price Performance

Shares of NASDAQ:RGNX opened at $10.37 on Tuesday. The business’s fifty day moving average price is $11.31 and its two-hundred day moving average price is $13.24. The stock has a market capitalization of $512.49 million, a price-to-earnings ratio of -1.97 and a beta of 1.21. REGENXBIO has a fifty-two week low of $9.11 and a fifty-two week high of $28.80.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.24. The company 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 company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.66) earnings per share. Research analysts expect that REGENXBIO will post -4.66 EPS for the current fiscal year.

Insider Activity at REGENXBIO

In other news, Director Argeris N. Karabelas sold 11,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.04, for a total transaction of $165,440.00. Following the completion of the sale, the director now owns 11,286 shares of the company’s stock, valued at $169,741.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other REGENXBIO news, Director Argeris N. Karabelas sold 10,100 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $13.51, for a total transaction of $136,451.00. Following the sale, the director now directly owns 11,286 shares in the company, valued at approximately $152,473.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Argeris N. Karabelas sold 11,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.04, for a total transaction of $165,440.00. Following the completion of the sale, the director now owns 11,286 shares in the company, valued at $169,741.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,069 shares of company stock worth $833,602 in the last three months. Company insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in shares of REGENXBIO by 73.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 746 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of REGENXBIO by 44.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 106,284 shares of the biotechnology company’s stock valued at $2,239,000 after buying an additional 32,584 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of REGENXBIO during the 1st quarter valued at approximately $56,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in REGENXBIO by 80.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 170,218 shares of the biotechnology company’s stock worth $3,586,000 after purchasing an additional 75,800 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in REGENXBIO in the first quarter worth $304,000. Institutional investors and hedge funds 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.