REGENXBIO (NASDAQ:RGNX) Stock Jumps 8.1% After Analyst Upgrade

REGENXBIO Inc. (NASDAQ:RGNX)’s share price rose 8.1% during trading on Monday after Mizuho upgraded the stock to a strong-buy rating. The company traded as high as $7.86 and last traded at $8.0330. 239,321 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,431,109 shares. The stock had previously closed at $7.43.

RGNX has been the subject of several other research reports. Wall Street Zen upgraded shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of REGENXBIO in a research report on Friday, September 4th. Barclays lowered REGENXBIO from an “overweight” rating to a “hold” rating in a report on Friday, August 7th. HC Wainwright reaffirmed a “buy” rating on shares of REGENXBIO in a report on Monday, September 28th. Finally, Zacks Research raised shares of REGENXBIO from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, REGENXBIO has an average rating of “Moderate Buy” and a consensus price target of $23.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. WINTON GROUP Ltd purchased a new stake in REGENXBIO in the second quarter worth approximately $290,000. Corient Private Wealth LP purchased a new stake in REGENXBIO during the 2nd quarter valued at $2,608,000. AXQ Capital LP purchased a new stake in REGENXBIO during the 2nd quarter valued at $221,000. Palogic Value Management L.P. bought a new position in shares of REGENXBIO during the 2nd quarter valued at $360,000. Finally, Bank of America Corp DE purchased a new position in shares of REGENXBIO in the 2nd quarter worth $6,212,000. Institutional investors own 88.08% of the company’s stock.

REGENXBIO Trading Down 4.0%

The stock has a market capitalization of $491.77 million, a PE ratio of -1.97 and a beta of 1.13. The stock has a 50 day moving average price of $9.18 and a 200-day moving average price of $9.11.

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

REGENXBIO Company Profile

REGENXBIO Inc is a biotechnology company focused on developing and commercializing gene therapies for serious diseases. The company’s programs are based primarily on its proprietary NAV AAV Technology Platform, which uses adeno-associated virus (AAV) vectors to deliver genetic material to targeted cells. Its research has emphasized conditions affecting the central nervous system, muscles and other tissues.

REGENXBIO’s pipeline has included investigational therapies such as RGX-121 for mucopolysaccharidosis type II, RGX-111 for mucopolysaccharidosis type I and RGX-202 for Duchenne muscular dystrophy.