REGENXBIO Inc. (NASDAQ:RGNX) had its price objective boosted by equities researchers at Chardan Capital from $75.00 to $85.00 in a report issued on Thursday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Chardan Capital’s price target would suggest a potential upside of 209.09% from the stock’s current price.
Several other research firms also recently weighed in on RGNX. Raymond James Financial, Inc. assumed coverage on shares of REGENXBIO in a research report on Thursday, October 12th. They issued an “outperform” rating and a $39.00 price target on the stock. Bank of America Corporation reiterated a “buy” rating and issued a $38.00 price target (up from $33.00) on shares of REGENXBIO in a research report on Monday, October 9th. Zacks Investment Research upgraded shares of REGENXBIO from a “hold” rating to a “strong-buy” rating and set a $38.00 price target on the stock in a research report on Wednesday, October 18th. Evercore ISI assumed coverage on shares of REGENXBIO in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, BidaskClub upgraded shares of REGENXBIO from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $40.57.
Shares of REGENXBIO (NASDAQ:RGNX) traded up $0.70 during trading on Thursday, reaching $27.50. 238,500 shares of the company were exchanged, compared to its average volume of 278,356. REGENXBIO has a 12 month low of $16.30 and a 12 month high of $36.10.
REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.67) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.71) by $0.04. REGENXBIO had a negative net margin of 764.06% and a negative return on equity of 39.33%. The business had revenue of $1.34 million for the quarter. equities analysts expect that REGENXBIO will post -2.74 EPS for the current year.
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In other news, CFO Vittal Vasista sold 3,040 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $21.09, for a total transaction of $64,113.60. Following the sale, the chief financial officer now directly owns 103,118 shares in the company, valued at approximately $2,174,758.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth T. Mills sold 6,500 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $20.05, for a total transaction of $130,325.00. Following the sale, the insider now owns 105,500 shares in the company, valued at $2,115,275. The disclosure for this sale can be found here. Insiders have sold a total of 210,040 shares of company stock worth $5,874,639 over the last 90 days. Insiders own 17.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc raised its position in shares of REGENXBIO by 41.4% during the 2nd quarter. Legal & General Group Plc now owns 6,870 shares of the biotechnology company’s stock valued at $137,000 after purchasing an additional 2,011 shares during the period. Ardsley Advisory Partners bought a new stake in shares of REGENXBIO during the 2nd quarter valued at $197,000. American International Group Inc. raised its position in shares of REGENXBIO by 7.1% during the 1st quarter. American International Group Inc. now owns 12,468 shares of the biotechnology company’s stock valued at $241,000 after purchasing an additional 822 shares during the period. Voya Investment Management LLC bought a new stake in shares of REGENXBIO during the 2nd quarter valued at $249,000. Finally, Asymmetry Capital Management L.P. raised its position in shares of REGENXBIO by 12.2% during the 2nd quarter. Asymmetry Capital Management L.P. now owns 13,906 shares of the biotechnology company’s stock valued at $275,000 after purchasing an additional 1,508 shares during the period. Hedge funds and other institutional investors own 73.42% of the company’s stock.
REGENXBIO Inc is a clinical-stage biotechnology company. The Company’s gene therapy product candidates are designed to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. The Company develops products candidates across the therapeutic areas of metabolic, neurodegenerative and retinal diseases.
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