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

REGENXBIO (NASDAQ:RGNX) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

RGNX has been the subject of several other research reports. HC Wainwright lowered their target price on REGENXBIO from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings restated a “sell (e+)” rating on shares of REGENXBIO in a research note on Monday, June 8th. Leerink Partners lifted their price target on shares of REGENXBIO from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Wall Street Zen upgraded shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Robert W. Baird increased their price objective on shares of REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Nine equities research 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 a consensus target price of $23.73.

REGENXBIO Price Performance

NASDAQ RGNX opened at $10.66 on Wednesday. The business has a fifty day moving average price of $10.33 and a two-hundred day moving average price of $9.28. REGENXBIO has a fifty-two week low of $5.45 and a fifty-two week high of $16.19. The stock has a market capitalization of $551.12 million, a PE ratio of -2.81 and a beta of 0.94.

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

Insider Activity

In other news, insider Steve Pakola sold 36,725 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $12.86, for a total transaction of $472,283.50. Following the completion of the transaction, the insider owned 213,009 shares of the company’s stock, valued at approximately $2,739,295.74. This trade represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 58,494 shares of company stock worth $718,232 over the last ninety days. 14.22% of the stock is currently owned by company insiders.

Institutional Trading of REGENXBIO

Institutional investors and hedge funds have recently bought and sold shares of the stock. Propel Bio Management LLC acquired a new position in shares of REGENXBIO in the fourth quarter worth approximately $1,683,000. Royce & Associates LP bought a new stake in REGENXBIO in the fourth quarter valued at approximately $1,714,000. Y Intercept Hong Kong Ltd acquired a new stake in REGENXBIO during the 1st quarter valued at approximately $2,305,000. Dimensional Fund Advisors LP raised its holdings in REGENXBIO by 11.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,010,381 shares of the biotechnology company’s stock worth $8,464,000 after purchasing an additional 106,530 shares during the last quarter. Finally, ACT Capital Management LLC bought a new position in REGENXBIO during the 4th quarter worth approximately $1,188,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

REGENXBIO Company Profile

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.