REGENXBIO Inc. (NASDAQ:RGNX) is among the top losers of the stock market today, sinking -5.04% or (-1.98 points) to $37.4 from its previous close of $39.38. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 209923 contracts so far this session. RGNX shares had a relatively better volume day versus average trading capacity of 596.23 thousand shares, but with a 31.1 million float and a -4.44% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for RGNX stock indicates that the average analyst price target is $83.17 per share. This means the stock has a potential increase of 122.38% from where the RGNX share price has been trading recently which is between $38.54 and $41.08. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $38.
The shorts are running away from REGENXBIO Inc. (RGNX) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a drop in short interest in RGNX shares. While short interest still represents only 12.51% of RGNX’s float, the number of shares shorted have fallen by -22753. The number of shares shorted fell to 3868505 shares, down from 3891258 shares during the preceding fortnight. With average daily trading volumes at 512380 shares, days to cover decreased to about 8.328998 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of RGNX earnings conference call or presentation 7-Aug-19 8:30pm GMT” and dated August 12, 2019.
During the recent trading session for REGENXBIO Inc. (NASDAQ:RGNX), the company witnessed their stock drop by $-2.54 over a week and tumble down $-10.5 from the price 20 days ago. When compared to their established 52-week high of $83.45, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/14/18. The recent low of $35.7 stood for a -55.19% since 08/06/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.72 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for REGENXBIO Inc., the two-week RSI stands at 30.55. This figure suggests that RGNX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current RGNX readings is similarly very revealing as it has a stochastic reading of 23.62% at this stage. This figure means that RGNX share price today is being overbought.
Technical chart claims that REGENXBIO Inc. (RGNX) would settle between $40.79/share to $42.21/share level. However, if the stock price goes below the $38.25 mark, then the market for REGENXBIO Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $37.13 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -1.59. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Chardan Capital Markets lifted target price for shares of RGNX but were stick to Buy recommendation for the stock in their opinion released on June 18. The price target has been raised from $145 to $150. Raymond James, analysts launched coverage of REGENXBIO Inc. (NASDAQ:RGNX) stock with a Outperform recommendation, according to their flash note issued to investors on June 14. Analysts at Chardan Capital Markets are sticking to their Buy stance. However, on June 05, they lifted price target for these shares to $145 from $127.50.
RGNX equity has an average rating of 2.33, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 5 analysts rated REGENXBIO Inc. (NASDAQ:RGNX) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, RGNX stock price is currently trading at 99.7X forward 12-month Consensus EPS estimates, and its P/S ratio is 19.99 while for the average stock in the same group, the multiple is 42.65.
REGENXBIO Inc. (RGNX)’s current-quarter revenues are projected to climb by nearly 17.8% to hit $6.26 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -76.19% from $218510 to a noteworthy $52.02 million. At the other end of the current quarter income statement, REGENXBIO Inc. is expected to see its adjusted earnings surge by roughly -48.21% to hit $-0.83 per share. For the fiscal year, RGNX’s earnings are projected to climb by roughly -199.58% to hit $-2.37 per share.