REGENXBIO (NASDAQ:RGNX – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.
RGNX has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of REGENXBIO in a research note on Monday, June 8th. Wall Street Zen raised REGENXBIO from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Bank of America reduced their price target on REGENXBIO from $25.00 to $14.00 and set a “buy” rating for the company in a report on Friday, May 15th. Barclays lowered REGENXBIO from an “overweight” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $18.00 price target on shares of REGENXBIO in a research note on Friday, August 7th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, REGENXBIO currently has a consensus rating of “Moderate Buy” and an average price target of $23.73.
Get Our Latest Stock Analysis on RGNX
REGENXBIO Stock Performance
REGENXBIO (NASDAQ:RGNX – Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates of $97.63 million. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. On average, analysts forecast that REGENXBIO will post -3.91 earnings per share for the current fiscal year.
Insider Activity
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 directly owned 213,009 shares of the company’s stock, valued at $2,739,295.74. This trade represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 58,494 shares of company stock worth $718,232 over the last 90 days. Corporate insiders own 14.22% of the company’s stock.
Hedge Funds Weigh In On REGENXBIO
A number of hedge funds have recently bought and sold shares of RGNX. Versant Capital Management Inc lifted its stake in REGENXBIO by 60.4% during the 2nd quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 1,032 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of REGENXBIO in the third quarter worth approximately $37,000. Quantbot Technologies LP bought a new stake in shares of REGENXBIO in the second quarter worth approximately $51,000. Captrust Financial Advisors purchased a new position in shares of REGENXBIO during the second quarter valued at approximately $85,000. Finally, Entropy Technologies LP purchased a new position in shares of REGENXBIO during the first quarter valued at approximately $87,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.
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.
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