REGENXBIO (NASDAQ:RGNX) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reissued their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $39.00 price target on the biotechnology company’s stock.

Several other research firms have also recently issued reports on RGNX. Barclays cut their target price on REGENXBIO from $55.00 to $50.00 and set an overweight rating on the stock in a research note on Monday, August 5th. StockNews.com raised REGENXBIO from a sell rating to a hold rating in a research note on Tuesday, June 18th. Finally, The Goldman Sachs Group began coverage on REGENXBIO in a research note on Friday, June 7th. They issued a buy rating and a $38.00 price target for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, REGENXBIO currently has an average rating of Moderate Buy and an average price target of $37.91.

REGENXBIO Stock Performance

RGNX opened at $11.48 on Wednesday. REGENXBIO has a 1 year low of $10.49 and a 1 year high of $28.80. The stock’s 50 day simple moving average is $12.28 and its 200 day simple moving average is $15.52.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.24. The company had revenue of $22.30 million for the quarter, compared to the consensus estimate of $22.97 million. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 68.21%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.66) earnings per share. Analysts expect that REGENXBIO will post -4.66 EPS for the current fiscal year.

Insider Activity at REGENXBIO

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $11.27, for a total value of $112,700.00. Following the sale, the director now owns 11,286 shares in the company, valued at $127,193.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Argeris N. Karabelas sold 10,100 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $13.51, for a total value of $136,451.00. Following the sale, the director now directly owns 11,286 shares of the company’s stock, valued at $152,473.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $11.27, for a total value of $112,700.00. Following the completion of the transaction, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $127,193.22. The disclosure for this sale can be found here. Insiders sold a total of 65,279 shares of company stock valued at $875,634 in the last three months. Company insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Lion Point Capital LP grew its holdings in shares of REGENXBIO by 11.5% during the second quarter. Lion Point Capital LP now owns 36,250 shares of the biotechnology company’s stock valued at $424,000 after buying an additional 3,750 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in REGENXBIO by 19.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,375 shares of the biotechnology company’s stock valued at $215,000 after purchasing an additional 3,015 shares during the last quarter. Millennium Management LLC boosted its stake in REGENXBIO by 84.8% during the 2nd quarter. Millennium Management LLC now owns 306,487 shares of the biotechnology company’s stock valued at $3,586,000 after purchasing an additional 140,666 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of REGENXBIO in the 2nd quarter worth $238,000. Finally, Squarepoint Ops LLC raised its stake in shares of REGENXBIO by 630.9% in the second quarter. Squarepoint Ops LLC now owns 146,259 shares of the biotechnology company’s stock worth $1,711,000 after purchasing an additional 126,249 shares during the last quarter. 88.08% of the stock is currently 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.