REGENXBIO (NASDAQ:RGNX) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of REGENXBIO (NASDAQ:RGNX) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

A number of other brokerages have also issued reports on RGNX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of REGENXBIO in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on shares of REGENXBIO from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Chardan Capital reaffirmed a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a report on Thursday, November 20th. Barclays decreased their price objective on shares of REGENXBIO from $50.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Finally, HC Wainwright restated a “buy” rating and issued a $34.00 target price on shares of REGENXBIO in a research note on Tuesday, October 7th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.63.

REGENXBIO Price Performance

REGENXBIO stock opened at $12.23 on Monday. REGENXBIO has a 12-month low of $5.03 and a 12-month high of $13.93. The company has a market capitalization of $619.08 million, a price-to-earnings ratio of -3.52 and a beta of 1.22. The firm’s fifty day moving average price is $11.21 and its 200 day moving average price is $9.69.

REGENXBIO (NASDAQ:RGNX) last announced its earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.18. REGENXBIO had a negative return on equity of 78.29% and a negative net margin of 110.29%.The company had revenue of $29.73 million during the quarter, compared to the consensus estimate of $24.41 million. Analysts forecast that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Insider Transactions at REGENXBIO

In other news, CEO Curran Simpson sold 20,811 shares of the business’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $12.62, for a total transaction of $262,634.82. Following the completion of the transaction, the chief executive officer owned 216,162 shares of the company’s stock, valued at approximately $2,727,964.44. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold 36,169 shares of company stock valued at $416,598 in the last quarter. Company insiders own 12.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cerity Partners LLC acquired a new stake in shares of REGENXBIO in the first quarter valued at approximately $228,000. CWM LLC boosted its position in shares of REGENXBIO by 6,181.4% during the first quarter. CWM LLC now owns 26,696 shares of the biotechnology company’s stock worth $191,000 after buying an additional 26,271 shares during the period. GSA Capital Partners LLP grew its holdings in REGENXBIO by 659.7% in the 1st quarter. GSA Capital Partners LLP now owns 131,329 shares of the biotechnology company’s stock worth $939,000 after buying an additional 114,043 shares in the last quarter. Vanguard Group Inc. increased its position in REGENXBIO by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 3,472,988 shares of the biotechnology company’s stock valued at $24,832,000 after acquiring an additional 487,036 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in REGENXBIO by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 366,549 shares of the biotechnology company’s stock valued at $2,621,000 after acquiring an additional 16,819 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

REGENXBIO Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company’s products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.