Shares of REGENXBIO Inc. (NASDAQ:RGNX) shot up 5.1% during trading on Monday . The stock traded as high as $28.40 and last traded at $29.70. 492,653 shares changed hands during mid-day trading, an increase of 60% from the average session volume of 308,320 shares. The stock had previously closed at $28.25.
Several research firms have recently commented on RGNX. Chardan Capital reissued a “buy” rating and issued a $75.00 price target (up from $55.00) on shares of REGENXBIO in a report on Tuesday, September 5th. Zacks Investment Research cut REGENXBIO from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Evercore ISI began coverage on REGENXBIO in a report on Wednesday, August 16th. They issued an “outperform” rating and a $25.00 price target for the company. Finally, BidaskClub raised REGENXBIO from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $37.00.
The firm’s market capitalization is $897.47 million. The company’s 50 day moving average is $27.39 and its 200-day moving average is $27.39.
REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.34. REGENXBIO had a negative return on equity of 38.74% and a negative net margin of 839.87%. The business had revenue of $6.56 million during the quarter. Equities analysts anticipate that REGENXBIO Inc. will post ($2.87) earnings per share for the current fiscal year.
In related news, CFO Vittal Vasista sold 3,100 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $19.81, for a total value of $61,411.00. Following the completion of the transaction, the chief financial officer now directly owns 108,423 shares of the company’s stock, valued at approximately $2,147,859.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donald J. Hayden, Jr. sold 40,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $28.70, for a total value of $1,148,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $574,000. The disclosure for this sale can be found here. Insiders sold a total of 154,640 shares of company stock valued at $3,923,590 over the last three months. Corporate insiders own 17.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of RGNX. Legal & General Group Plc grew its holdings in REGENXBIO by 41.4% in the 2nd quarter. Legal & General Group Plc now owns 6,870 shares of the biotechnology company’s stock worth $137,000 after buying an additional 2,011 shares in the last quarter. Oxford Asset Management bought a new position in REGENXBIO in the 1st quarter worth approximately $206,000. American International Group Inc. grew its holdings in REGENXBIO by 7.1% in the 1st quarter. American International Group Inc. now owns 12,468 shares of the biotechnology company’s stock worth $241,000 after buying an additional 822 shares in the last quarter. Voya Investment Management LLC bought a new position in REGENXBIO in the 2nd quarter worth approximately $249,000. Finally, Acadian Asset Management LLC bought a new position in REGENXBIO in the 1st quarter worth approximately $272,000. 73.23% of the stock is owned by institutional investors and hedge funds.
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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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