REGENXBIO (NASDAQ:RGNX) Given New $12.00 Price Target at The Goldman Sachs Group

REGENXBIO (NASDAQ:RGNX) had its price objective decreased by The Goldman Sachs Group from $14.00 to $12.00 in a report released on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the biotechnology company’s stock.

RGNX has been the topic of a number of other research reports. Leerink Partners set a $24.00 price objective on shares of REGENXBIO in a research report on Tuesday, March 18th. HC Wainwright cut their price target on shares of REGENXBIO from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Morgan Stanley increased their price objective 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. Raymond James initiated coverage on REGENXBIO in a research report on Friday, February 7th. They issued an “outperform” rating and a $27.00 target price on the stock. Finally, Chardan Capital reissued a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a research report on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, REGENXBIO presently has an average rating of “Moderate Buy” and an average price target of $31.63.

REGENXBIO Trading Down 3.6 %

RGNX stock opened at $5.94 on Thursday. The stock has a 50-day moving average price of $6.84 and a two-hundred day moving average price of $8.18. REGENXBIO has a 1 year low of $5.04 and a 1 year high of $17.52. The stock has a market cap of $297.69 million, a PE ratio of -1.18 and a beta of 1.26.

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

Institutional Trading of REGENXBIO

A number of hedge funds have recently made changes to their positions in RGNX. GAMMA Investing LLC raised its stake in 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 period. FMR LLC increased its holdings in shares of REGENXBIO by 166.8% in the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,656 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of REGENXBIO in the first quarter valued at about $35,000. KLP Kapitalforvaltning AS acquired a new stake in shares of REGENXBIO during the 4th quarter worth about $54,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of REGENXBIO during the 1st quarter worth about $74,000. 88.08% of the stock is owned by institutional investors and hedge funds.

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.