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

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been assigned an average rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $31.63.

RGNX has been the subject of several research reports. Raymond James initiated coverage on shares of 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 upped their target price on shares of REGENXBIO from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Leerink Partners set a $24.00 price target on shares of REGENXBIO in a research note on Tuesday, March 18th. Chardan Capital restated a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a research note on Thursday, March 20th. Finally, The Goldman Sachs Group decreased their target price on REGENXBIO from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RGNX. FMR LLC raised its position in REGENXBIO by 166.8% during the 3rd 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 in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of REGENXBIO by 9.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,910 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 1,982 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of REGENXBIO by 19.9% in the fourth quarter. Teacher Retirement System of Texas now owns 12,590 shares of the biotechnology company’s stock valued at $97,000 after acquiring an additional 2,088 shares in the last quarter. DnB Asset Management AS lifted its stake in REGENXBIO by 20.1% in the fourth quarter. DnB Asset Management AS now owns 14,539 shares of the biotechnology company’s stock worth $112,000 after acquiring an additional 2,434 shares during the period. Finally, GAMMA Investing LLC lifted its stake in REGENXBIO by 273.1% in the fourth quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 2,510 shares during the period. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Price Performance

Shares of NASDAQ:RGNX opened at $5.94 on Wednesday. The business has a fifty day moving average price of $6.81 and a 200-day moving average price of $8.13. The company has a market capitalization of $297.69 million, a PE ratio of -1.18 and a beta of 1.26. REGENXBIO has a 1-year low of $5.04 and a 1-year high of $17.52.

REGENXBIO (NASDAQ:RGNX) last posted 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. The business had revenue of $21.21 million during the quarter, compared to analyst estimates of $23.70 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. On average, sell-side analysts anticipate that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

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.