REGENXBIO (NASDAQ:RGNX) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of REGENXBIO (NASDAQ:RGNX) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently commented on RGNX. Wall Street Zen upgraded REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Barclays downgraded REGENXBIO from an “overweight” rating to a “hold” rating in a research note on Friday, August 7th. HC Wainwright decreased their price objective on REGENXBIO from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Monday. Weiss Ratings reiterated a “sell (e+)” rating on shares of REGENXBIO in a research report on Monday, June 8th. Finally, Robert W. Baird raised their target price on shares of REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.73.

REGENXBIO Price Performance

RGNX stock opened at $10.66 on Wednesday. REGENXBIO has a 1-year low of $5.45 and a 1-year high of $16.19. The business has a 50 day simple moving average of $10.33 and a two-hundred day simple moving average of $9.28. The company has a market capitalization of $551.12 million, a price-to-earnings ratio of -2.81 and a beta of 0.94.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.35. The firm had revenue of $108.02 million for the quarter, compared to analysts’ expectations of $97.63 million. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. Sell-side analysts anticipate that REGENXBIO will post -3.91 EPS for the current fiscal year.

Insider Buying and Selling at REGENXBIO

In related news, insider Steve Pakola sold 36,725 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.86, for a total transaction of $472,283.50. Following the sale, the insider owned 213,009 shares in the company, valued at approximately $2,739,295.74. This represents a 14.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 58,494 shares of company stock worth $718,232. Insiders own 14.22% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

A number of large investors have recently made changes to their positions in RGNX. Versant Capital Management Inc lifted its stake in REGENXBIO by 60.4% in the second quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 1,032 shares during the last quarter. Aquatic Capital Management LLC bought a new position in shares of REGENXBIO during the third quarter valued at approximately $37,000. Quantbot Technologies LP bought a new position in shares of REGENXBIO during the second quarter valued at approximately $51,000. Captrust Financial Advisors purchased a new stake in shares of REGENXBIO in the second quarter worth approximately $85,000. Finally, Entropy Technologies LP purchased a new stake in shares of REGENXBIO in the first quarter worth approximately $87,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

About REGENXBIO

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO’s pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.