Regenxbio (RGNX) Trading 5.1% Higher

Regenxbio Inc (NASDAQ:RGNX) traded up 5.1% during mid-day trading on Tuesday . The stock traded as high as $62.54 and last traded at $62.19. 511,645 shares were traded during trading, a decline of 7% from the average session volume of 549,626 shares. The stock had previously closed at $59.17.

Several equities research analysts have issued reports on the stock. ValuEngine cut shares of Regenxbio from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 11th. Morgan Stanley lifted their target price on shares of Regenxbio from $37.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, July 13th. BidaskClub cut shares of Regenxbio from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Barclays lifted their target price on shares of Regenxbio from $48.00 to $83.00 and gave the stock an “overweight” rating in a research note on Monday, August 13th. Finally, Raymond James lifted their target price on shares of Regenxbio from $76.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, September 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $77.64.

The firm has a market capitalization of $2.44 billion, a P/E ratio of -24.94, a price-to-earnings-growth ratio of 15.14 and a beta of -1.19.

Regenxbio (NASDAQ:RGNX) last posted its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported $0.30 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.93). Regenxbio had a return on equity of 28.70% and a net margin of 44.44%. The company had revenue of $40.03 million for the quarter, compared to analysts’ expectations of $100.00 million. On average, equities research analysts forecast that Regenxbio Inc will post 1.64 earnings per share for the current year.

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 value of $490,725.00. Following the sale, the chief financial officer now directly owns 123,584 shares in the company, valued at approximately $8,086,101.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Yoo sold 20,414 shares of the business’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $60.28, for a total transaction of $1,230,555.92. Following the completion of the sale, the insider now owns 10,000 shares in the company, valued at $602,800. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,444 shares of company stock worth $5,841,213. Insiders own 16.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue raised its holdings in Regenxbio by 9.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 9,590 shares of the biotechnology company’s stock valued at $724,000 after buying an additional 820 shares during the period. Louisiana State Employees Retirement System increased its stake in Regenxbio by 8.3% during the third quarter. Louisiana State Employees Retirement System now owns 13,000 shares of the biotechnology company’s stock worth $982,000 after purchasing an additional 1,000 shares during the period. Meadow Creek Investment Management LLC purchased a new stake in Regenxbio during the second quarter worth about $141,000. Meeder Asset Management Inc. increased its stake in Regenxbio by 1,212.0% during the second quarter. Meeder Asset Management Inc. now owns 2,178 shares of the biotechnology company’s stock worth $156,000 after purchasing an additional 2,012 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in Regenxbio during the second quarter worth about $157,000. Hedge funds and other institutional investors own 80.81% of the company’s stock.

Regenxbio Company Profile (NASDAQ:RGNX)

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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