REGENXBIO (NASDAQ:RGNX) Stock Price Up 6.6% – Still a Buy?

Shares of REGENXBIO Inc. (NASDAQ:RGNX) were up 6.6% during trading on Wednesday . The stock traded as high as $10.98 and last traded at $10.98. Approximately 84,712 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 598,695 shares. The stock had previously closed at $10.30.

Analyst Upgrades and Downgrades

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

REGENXBIO Stock Performance

The stock has a market cap of $533.94 million, a price-to-earnings ratio of -1.87 and a beta of 1.21. The business has a 50-day simple moving average of $11.46 and a two-hundred day simple moving average of $13.58.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.24. The business had revenue of $22.30 million for 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%. REGENXBIO’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.66) earnings per share. On average, analysts expect that REGENXBIO Inc. will post -4.66 earnings per share for the current fiscal year.

Insider Activity at REGENXBIO

In other news, Director Argeris N. Karabelas sold 11,000 shares of REGENXBIO stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.04, for a total value of $165,440.00. Following the completion of the transaction, the director now owns 11,286 shares of the company’s stock, valued at $169,741.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Curran Simpson sold 9,648 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.04, for a total value of $145,105.92. Following the sale, the chief executive officer now owns 170,137 shares in the company, valued at approximately $2,558,860.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Argeris N. Karabelas sold 11,000 shares of REGENXBIO stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.04, for a total transaction of $165,440.00. Following the transaction, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $169,741.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,069 shares of company stock valued at $833,602. 13.13% of the stock is owned by corporate insiders.

Institutional Trading of REGENXBIO

A number of hedge funds have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in REGENXBIO in the 4th quarter valued at about $377,000. PNC Financial Services Group Inc. lifted its holdings in 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 purchasing an additional 746 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in REGENXBIO by 44.2% in 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 purchasing an additional 32,584 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in REGENXBIO in the 1st quarter valued at $56,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in REGENXBIO by 80.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 170,218 shares of the biotechnology company’s stock worth $3,586,000 after buying an additional 75,800 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.