REGENXBIO Inc. (RGNX) Downgraded by ValuEngine to “Sell”
ValuEngine downgraded shares of REGENXBIO Inc. (NASDAQ:RGNX) from a hold rating to a sell rating in a research report report published on Tuesday.
Other research analysts have also issued reports about the company. BidaskClub raised REGENXBIO from a hold rating to a buy rating in a report on Saturday, August 12th. Zacks Investment Research raised REGENXBIO from a hold rating to a buy rating and set a $23.00 price objective on the stock in a report on Saturday, August 12th. Chardan Capital upped their price objective on REGENXBIO from $75.00 to $85.00 and gave the company a buy rating in a report on Thursday, November 9th. Evercore ISI began coverage on REGENXBIO in a report on Wednesday, August 16th. They issued an outperform rating and a $25.00 price objective on the stock. Finally, Bank of America Corporation upped their price objective on REGENXBIO from $29.00 to $33.00 and gave the company a buy rating in a report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $43.17.
REGENXBIO (NASDAQ:RGNX) traded down $0.80 during mid-day trading on Tuesday, hitting $26.00. The company had a trading volume of 411,500 shares, compared to its average volume of 278,278. REGENXBIO has a 1-year low of $16.30 and a 1-year high of $36.10.
REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.67) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.04. REGENXBIO had a negative return on equity of 39.33% and a negative net margin of 764.06%. The firm had revenue of $1.34 million for the quarter. analysts anticipate that REGENXBIO will post -2.63 earnings per share for the current fiscal year.
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In other news, insider Kenneth T. Mills sold 10,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $32.62, for a total transaction of $326,200.00. Following the sale, the insider now directly owns 98,730 shares of the company’s stock, valued at approximately $3,220,572.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Donald J. Hayden, Jr. sold 20,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $24.95, for a total value of $499,000.00. Following the sale, the director now directly owns 20,000 shares in the company, valued at $499,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 207,000 shares of company stock worth $5,810,525. 17.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in shares of REGENXBIO by 41.4% during the 2nd quarter. Legal & General Group Plc now owns 6,870 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 2,011 shares in the last quarter. Ardsley Advisory Partners acquired a new stake in shares of REGENXBIO during the 2nd quarter worth $197,000. American International Group Inc. grew its holdings in shares of REGENXBIO by 7.1% during the 1st quarter. American International Group Inc. now owns 12,468 shares of the biotechnology company’s stock worth $241,000 after purchasing an additional 822 shares in the last quarter. Voya Investment Management LLC acquired a new stake in shares of REGENXBIO during the 2nd quarter worth $249,000. Finally, Asymmetry Capital Management L.P. grew its holdings in shares of REGENXBIO by 12.2% during the 2nd quarter. Asymmetry Capital Management L.P. now owns 13,906 shares of the biotechnology company’s stock worth $275,000 after purchasing an additional 1,508 shares in the last quarter. 73.13% of the stock is currently owned by institutional investors.
REGENXBIO Inc is a clinical-stage biotechnology company. The Company’s gene therapy product candidates are designed 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. The Company develops products candidates across the therapeutic areas of metabolic, neurodegenerative and retinal diseases.
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