REGENXBIO (NASDAQ:RGNX) Given New $39.00 Price Target at HC Wainwright

REGENXBIO (NASDAQ:RGNX) had its price objective upped by HC Wainwright from $38.00 to $39.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other brokerages also recently commented on RGNX. The Goldman Sachs Group started coverage on REGENXBIO in a report on Friday, June 7th. They set a buy rating and a $38.00 target price for the company. StockNews.com raised shares of REGENXBIO from a sell rating to a hold rating in a research report on Tuesday, June 18th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $40.00 target price on shares of REGENXBIO in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $38.25.

REGENXBIO Stock Up 1.4 %

RGNX traded up $0.18 during midday trading on Monday, hitting $12.69. The stock had a trading volume of 557,598 shares, compared to its average volume of 641,934. REGENXBIO has a 1 year low of $10.49 and a 1 year high of $28.80. The business has a fifty day moving average of $12.90 and a 200 day moving average of $16.02.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.24. REGENXBIO had a negative return on equity of 67.88% and a negative net margin of 270.74%. The company had revenue of $22.30 million during the quarter, compared to analysts’ expectations of $22.97 million. During the same period in the prior year, the business posted ($1.66) EPS. REGENXBIO’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts forecast that REGENXBIO will post -4.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $11.27, for a total transaction of $112,700.00. Following the completion of the sale, the director now directly owns 11,286 shares in the company, valued at $127,193.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction on Monday, July 1st. The stock was sold at an average price of $11.27, for a total transaction of $112,700.00. Following the transaction, the director now directly owns 11,286 shares in the company, valued at $127,193.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.81, for a total value of $237,150.00. Following the sale, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at approximately $6,451,033.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,279 shares of company stock valued at $997,184. Insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings 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 worth $32,000 after acquiring an additional 746 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of REGENXBIO in the 1st quarter worth approximately $56,000. Headlands Technologies LLC increased its position in shares of REGENXBIO by 276.8% during the 1st quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock valued at $81,000 after purchasing an additional 2,812 shares during the last quarter. Diversified Trust Co purchased a new stake in REGENXBIO during the 2nd quarter valued at $121,000. Finally, Arizona State Retirement System lifted its position in REGENXBIO by 20.6% in the second quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock worth $137,000 after buying an additional 1,997 shares during the last quarter. 88.08% of the stock is owned by institutional investors.

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.