REGENXBIO (NASDAQ:RGNX) Trading Up 10.7% After Analyst Upgrade

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report)'s share price was up 10.7% on Tuesday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The company traded as high as $13.59 and last traded at $13.54. Approximately 409,030 shares changed hands during trading, a decline of 52% from the average daily volume of 847,395 shares. The stock had previously closed at $12.23.

A number of other equities research analysts have also weighed in on RGNX. Weiss Ratings restated a "sell (d-)" rating on shares of REGENXBIO in a research note on Wednesday, October 8th. Royal Bank Of Canada upped their price target on shares of REGENXBIO from $17.00 to $19.00 and gave the company an "outperform" rating in a report on Friday, November 7th. HC Wainwright reissued a "buy" rating and set a $34.00 price objective on shares of REGENXBIO in a report on Tuesday, October 7th. Barclays dropped their target price on shares of REGENXBIO from $50.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $52.00 price target on shares of REGENXBIO in a research report on Thursday, November 20th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.63.

Get Our Latest Research Report on RGNX

Insider Activity at REGENXBIO

In related news, CEO Curran Simpson sold 20,811 shares of the firm's stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $12.62, for a total transaction of $262,634.82. Following the completion of the transaction, the chief executive officer owned 216,162 shares of the company's stock, valued at $2,727,964.44. This trade represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 36,169 shares of company stock worth $416,598. 12.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of REGENXBIO by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company's stock valued at $38,959,000 after purchasing an additional 185,223 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of REGENXBIO by 16.3% in the first quarter. Vanguard Group Inc. now owns 3,472,988 shares of the biotechnology company's stock worth $24,832,000 after buying an additional 487,036 shares during the period. Geode Capital Management LLC increased its position in shares of REGENXBIO by 1.9% in the second quarter. Geode Capital Management LLC now owns 1,128,521 shares of the biotechnology company's stock worth $9,267,000 after acquiring an additional 21,575 shares in the last quarter. Integral Health Asset Management LLC raised its holdings in shares of REGENXBIO by 57.1% during the third quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company's stock valued at $10,615,000 after acquiring an additional 400,000 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of REGENXBIO by 49.9% in the 2nd quarter. AQR Capital Management LLC now owns 930,196 shares of the biotechnology company's stock valued at $7,637,000 after acquiring an additional 309,601 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company's stock.

REGENXBIO Trading Up 9.8%

The company's 50-day moving average is $11.21 and its 200 day moving average is $9.69. The firm has a market cap of $679.83 million, a PE ratio of -3.87 and a beta of 1.22.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last issued its earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share for the quarter, beating analysts' consensus estimates of ($1.38) by $0.18. The company had revenue of $29.73 million for the quarter, compared to the consensus estimate of $24.41 million. REGENXBIO had a negative return on equity of 78.29% and a negative net margin of 110.29%. On average, research analysts predict that REGENXBIO Inc. will post -4.84 EPS for the current fiscal year.

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.

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