Regenxbio Inc (RGNX) Receives Average Rating of “Buy” from Brokerages

Regenxbio Inc (NASDAQ:RGNX) has been given a consensus recommendation of “Buy” by the ten ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $84.07.

Several equities analysts recently issued reports on RGNX shares. TheStreet upgraded shares of Regenxbio from a “d+” rating to a “c” rating in a research report on Monday, September 17th. Bank of America cut shares of Regenxbio from a “buy” rating to a “neutral” rating and boosted their price target for the company from $64.00 to $80.00 in a research report on Monday, July 23rd. ValuEngine upgraded shares of Regenxbio from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 10th. Chardan Capital reduced their price target on shares of Regenxbio from $130.00 to $127.50 and set a “buy” rating on the stock in a research report on Wednesday, August 8th. Finally, Raymond James reiterated a “buy” rating on shares of Regenxbio in a research report on Monday, October 29th.

In related news, CFO Vittal Vasista sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $65.43, for a total transaction of $490,725.00. Following the sale, the chief financial officer now owns 123,584 shares of the company’s stock, valued at $8,086,101.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Curran Simpson sold 62,309 shares of the business’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $60.85, for a total transaction of $3,791,502.65. Following the sale, the senior vice president now directly owns 86,017 shares in the company, valued at approximately $5,234,134.45. The disclosure for this sale can be found here. Insiders have sold 271,585 shares of company stock worth $17,733,781 in the last quarter. 16.90% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of RGNX. UBS Group AG boosted its stake in Regenxbio by 71.2% during the first quarter. UBS Group AG now owns 43,251 shares of the biotechnology company’s stock worth $1,291,000 after acquiring an additional 17,994 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in Regenxbio during the first quarter worth about $1,260,000. State of Alaska Department of Revenue bought a new stake in Regenxbio during the second quarter worth about $629,000. Xact Kapitalforvaltning AB bought a new stake in Regenxbio during the second quarter worth about $330,000. Finally, Bank of Montreal Can boosted its stake in Regenxbio by 1,906.3% during the second quarter. Bank of Montreal Can now owns 37,798 shares of the biotechnology company’s stock worth $2,712,000 after acquiring an additional 35,914 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Shares of RGNX opened at $68.97 on Friday. Regenxbio has a 1-year low of $23.25 and a 1-year high of $85.10. The stock has a market cap of $2.25 billion, a PE ratio of -28.15, a P/E/G ratio of 13.98 and a beta of -0.49.

Regenxbio (NASDAQ:RGNX) last announced its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.86) by $0.30. Regenxbio had a net margin of 44.44% and a return on equity of 28.70%. The company had revenue of $5.31 million for the quarter. On average, sell-side analysts forecast that Regenxbio will post 1.64 earnings per share for the current fiscal year.

About Regenxbio

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.

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Analyst Recommendations for Regenxbio (NASDAQ:RGNX)

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