Regenxbio (NASDAQ:RGNX) Cut to “Sell” at Zacks Investment Research
According to Zacks, “REGENXBIO Inc. is a biotechnology company. The Company focuses on the development, commercialization and licensing of recombinant adeno-associated virus gene therapy. Its products candidates include RGX-501, for the treatment of homozygous familial hypercholesterolemia which uses the AAV8 vector to deliver the human low-density lipoprotein receptor gene to liver cells; RGX-111, for the treatment of Mucopolysaccharidosis Type I which uses the AAV9 vector to deliver the human a-l-iduronidase gene to the central nervous system; RGX-121, for the treatment of Mucopolysaccharidosis Type II; RGX-314, for the treatment of wet age-related macular degeneration and RGX-321, for the treatment of X-linked retinitis pigmentosa. REGENXBIO Inc. is headquartered in Rockville, Maryland. “
RGNX has been the subject of several other reports. Chardan Capital restated a buy rating and issued a $150.00 price target (up from $145.00) on shares of Regenxbio in a report on Tuesday, June 18th. BidaskClub downgraded Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, July 11th. Raymond James assumed coverage on Adverum Biotechnologies in a report on Thursday, June 13th. They issued a market perform rating for the company. TheStreet downgraded Trade Desk from a b- rating to a c- rating in a report on Thursday, May 9th. Finally, ValuEngine downgraded Yext from a strong-buy rating to a buy rating in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $81.41.
Regenxbio (NASDAQ:RGNX) last announced its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.04). Regenxbio had a negative return on equity of 9.90% and a negative net margin of 41.99%. The business had revenue of $0.88 million during the quarter. On average, research analysts predict that Regenxbio will post -2.49 EPS for the current fiscal year.
In related news, SVP Patrick J. Christmas sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $52.99, for a total transaction of $264,950.00. Following the completion of the transaction, the senior vice president now directly owns 8,006 shares of the company’s stock, valued at $424,237.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Curran Simpson sold 18,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $50.00, for a total value of $900,000.00. Following the transaction, the senior vice president now directly owns 57,500 shares of the company’s stock, valued at $2,875,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,000 shares of company stock valued at $3,354,500. 13.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. NumerixS Investment Technologies Inc acquired a new position in Regenxbio during the fourth quarter valued at approximately $50,000. Mckinley Capital Management LLC Delaware boosted its position in Regenxbio by 51.8% during the first quarter. Mckinley Capital Management LLC Delaware now owns 888 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 303 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new position in Regenxbio during the first quarter valued at approximately $55,000. NEXT Financial Group Inc acquired a new position in Regenxbio during the second quarter valued at approximately $69,000. Finally, SG3 Management LLC acquired a new position in Regenxbio during the first quarter valued at approximately $115,000. 81.47% of the stock is owned by hedge funds and other institutional investors.
Regenxbio Company Profile
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.
See Also: How to read a candlestick chart
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Regenxbio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regenxbio and related companies with MarketBeat.com's FREE daily email newsletter.