Regenxbio Inc (RGNX) Receives $81.68 Average Price Target from Analysts
Regenxbio Inc (NASDAQ:RGNX) has received an average recommendation of “Buy” from the eleven research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $81.68.
Several research firms recently issued reports on RGNX. Zacks Investment Research upgraded shares of Regenxbio from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, February 5th. BidaskClub upgraded shares of Regenxbio from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. ValuEngine lowered shares of Regenxbio from a “hold” rating to a “sell” rating in a research report on Friday, December 21st. Finally, Morgan Stanley cut their target price on shares of Regenxbio from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 19th.
NASDAQ RGNX opened at $57.52 on Thursday. The company has a current ratio of 15.24, a quick ratio of 15.24 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.09 billion, a P/E ratio of 24.17 and a beta of 0.46. Regenxbio has a 1 year low of $26.80 and a 1 year high of $85.10.
In other Regenxbio news, insider Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 17th. The shares were sold at an average price of $46.73, for a total value of $700,950.00. Following the sale, the insider now owns 223,396 shares in the company, valued at $10,439,295.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Patrick J. Christmas sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $47.54, for a total transaction of $237,700.00. Following the completion of the sale, the senior vice president now owns 7,669 shares in the company, valued at approximately $364,584.26. The disclosure for this sale can be found here. Insiders sold 109,700 shares of company stock worth $5,319,057 in the last 90 days. Company insiders own 16.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of RGNX. Vanguard Group Inc. lifted its holdings in shares of Regenxbio by 51.0% during the third quarter. Vanguard Group Inc. now owns 2,805,969 shares of the biotechnology company’s stock worth $211,851,000 after purchasing an additional 947,671 shares during the period. MetLife Investment Advisors LLC lifted its holdings in shares of Regenxbio by 66.9% during the third quarter. MetLife Investment Advisors LLC now owns 22,065 shares of the biotechnology company’s stock worth $1,666,000 after purchasing an additional 8,848 shares during the period. Jane Street Group LLC acquired a new position in shares of Regenxbio during the third quarter worth $837,000. Shell Asset Management Co. acquired a new position in shares of Regenxbio during the third quarter worth $392,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Regenxbio by 12.6% during the third quarter. Bank of New York Mellon Corp now owns 359,415 shares of the biotechnology company’s stock worth $27,136,000 after purchasing an additional 40,085 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.
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 or antibodies 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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