REGENXBIO Inc. (NASDAQ:RGNX – Get Rating) dropped 5.8% during trading on Friday after Chardan Capital lowered their price target on the stock from $61.00 to $55.00. The company traded as low as $18.56 and last traded at $18.76. Approximately 125,277 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 405,383 shares. The stock had previously closed at $19.91.
A number of other research firms have also recently commented on RGNX. Morgan Stanley lowered their price target on REGENXBIO from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, March 6th. SVB Leerink reduced their price objective on REGENXBIO from $15.00 to $14.00 and set a “market perform” rating on the stock in a research note on Monday, January 23rd. Finally, StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research note on Tuesday, March 28th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, REGENXBIO has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.
Hedge Funds Weigh In On REGENXBIO
Several large investors have recently modified their holdings of the stock. Texas Permanent School Fund boosted its holdings in REGENXBIO by 1.8% during the 4th quarter. Texas Permanent School Fund now owns 27,545 shares of the biotechnology company’s stock valued at $625,000 after acquiring an additional 493 shares during the period. Lazard Asset Management LLC boosted its holdings in REGENXBIO by 5.2% during the 3rd quarter. Lazard Asset Management LLC now owns 10,251 shares of the biotechnology company’s stock valued at $270,000 after acquiring an additional 505 shares during the period. SummerHaven Investment Management LLC boosted its holdings in REGENXBIO by 2.0% during the 4th quarter. SummerHaven Investment Management LLC now owns 26,655 shares of the biotechnology company’s stock valued at $605,000 after acquiring an additional 519 shares during the period. ProShare Advisors LLC boosted its holdings in REGENXBIO by 8.3% during the 4th quarter. ProShare Advisors LLC now owns 9,847 shares of the biotechnology company’s stock valued at $223,000 after acquiring an additional 758 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in REGENXBIO by 10.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 8,483 shares of the biotechnology company’s stock valued at $282,000 after acquiring an additional 804 shares during the period. Institutional investors own 80.21% of the company’s stock.
REGENXBIO Trading Down 5.3 %
The stock has a fifty day moving average of $20.05 and a 200-day moving average of $21.79.
REGENXBIO (NASDAQ:RGNX – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The biotechnology company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). REGENXBIO had a negative net margin of 246.50% and a negative return on equity of 47.40%. The business had revenue of $19.10 million for the quarter, compared to analysts’ expectations of $31.29 million. During the same quarter in the previous year, the firm earned ($1.62) EPS. REGENXBIO’s revenue was down 14.0% compared to the same quarter last year. As a group, equities analysts expect that REGENXBIO Inc. will post -4.45 earnings per share for the current year.
REGENXBIO Company Profile
REGENXBIO, Inc is a clinical-stage biotechnology company, which engages in the development, commercialization, and licensing of recombinant adeno-associated virus gene therapy. Its product candidates include the NAV Technology Platform, which consists of exclusive rights to novel adeno-associated viral vectors, and therapeutic programs such as RGX-314, RGX-202, RGX-121, RGX-111, RGX-181, and RGX-381.