REGENXBIO Inc. (NASDAQ:RGNX)‘s stock had its “overweight” rating reaffirmed by analysts at Morgan Stanley in a research report issued on Thursday. They presently have a $34.00 target price on the biotechnology company’s stock. Morgan Stanley’s price target indicates a potential upside of 23.64% from the company’s previous close.
Other research analysts have also issued reports about the stock. BidaskClub raised shares of REGENXBIO from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Zacks Investment Research raised shares of REGENXBIO from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Saturday, August 12th. Chardan Capital raised their price target on shares of REGENXBIO from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI assumed coverage on shares of REGENXBIO in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, Bank of America Corporation raised their price target on shares of REGENXBIO from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, September 21st. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $40.57.
Shares of REGENXBIO (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 342,487. REGENXBIO has a 1 year low of $16.30 and a 1 year high of $36.10.
REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.67) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.71) by $0.04. The firm had revenue of $1.34 million for the quarter. REGENXBIO had a negative net margin of 764.06% and a negative return on equity of 39.33%. equities analysts anticipate that REGENXBIO will post -2.63 earnings per share for the current fiscal year.
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In other REGENXBIO news, Director Donald J. Hayden, Jr. sold 40,000 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $28.70, for a total value of $1,148,000.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $574,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Donald J. Hayden, Jr. sold 20,000 shares of the stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $34.95, for a total transaction of $699,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 210,040 shares of company stock valued at $5,874,639. 17.00% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Redmile Group LLC raised its holdings in REGENXBIO by 35.4% in the 2nd quarter. Redmile Group LLC now owns 1,718,671 shares of the biotechnology company’s stock valued at $33,944,000 after acquiring an additional 449,540 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of REGENXBIO by 3.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,270,327 shares of the biotechnology company’s stock worth $40,778,000 after buying an additional 43,492 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of REGENXBIO by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,082,461 shares of the biotechnology company’s stock worth $21,379,000 after buying an additional 100,944 shares during the last quarter. Citadel Advisors LLC increased its holdings in shares of REGENXBIO by 65.4% during the 2nd quarter. Citadel Advisors LLC now owns 926,176 shares of the biotechnology company’s stock worth $18,292,000 after buying an additional 366,289 shares during the last quarter. Finally, GMT Capital Corp increased its holdings in shares of REGENXBIO by 47.3% during the 3rd quarter. GMT Capital Corp now owns 898,067 shares of the biotechnology company’s stock worth $29,591,000 after buying an additional 288,367 shares during the last quarter. 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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