REGENXBIO (NASDAQ:RGNX) Given New $34.00 Price Target at HC Wainwright

REGENXBIO (NASDAQ:RGNX) had its price target reduced by stock analysts at HC Wainwright from $36.00 to $34.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price points to a potential upside of 405.95% from the stock’s previous close.

A number of other research firms have also recently commented on RGNX. Morgan Stanley raised their price target on REGENXBIO from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday. Raymond James started coverage on REGENXBIO in a research note on Friday, February 7th. They set an “outperform” rating and a $27.00 target price on the stock. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Chardan Capital reiterated a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research report on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 target price on shares of REGENXBIO in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.88.

REGENXBIO Stock Up 2.6 %

RGNX stock opened at $6.72 on Monday. The business’s 50-day moving average price is $7.31 and its 200-day moving average price is $9.00. The stock has a market cap of $332.94 million, a P/E ratio of -1.34 and a beta of 1.35. REGENXBIO has a twelve month low of $5.62 and a twelve month high of $23.14.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.27) by $0.26. The business had revenue of $21.21 million during the quarter, compared to analyst estimates of $23.70 million. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. On average, equities research analysts expect that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On REGENXBIO

A number of institutional investors and hedge funds have recently made changes to their positions in RGNX. Redmile Group LLC lifted its holdings in shares of REGENXBIO by 7.1% in the 3rd quarter. Redmile Group LLC now owns 4,892,902 shares of the biotechnology company’s stock valued at $51,327,000 after acquiring an additional 323,100 shares during the last quarter. JPMorgan Chase & Co. raised its position in REGENXBIO by 67.0% during the fourth quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company’s stock valued at $31,975,000 after purchasing an additional 1,659,206 shares during the period. Millennium Management LLC boosted its holdings in shares of REGENXBIO by 406.3% in the 4th quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company’s stock worth $10,222,000 after purchasing an additional 1,061,187 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of REGENXBIO by 6.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,187,102 shares of the biotechnology company’s stock worth $9,176,000 after purchasing an additional 66,993 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of REGENXBIO by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,171,422 shares of the biotechnology company’s stock valued at $9,054,000 after purchasing an additional 21,234 shares during the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

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.