REGENXBIO (NASDAQ:RGNX) Stock Rating Lowered by StockNews.com

REGENXBIO (NASDAQ:RGNX) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Other analysts have also recently issued research reports about the company. Raymond James reissued an “outperform” rating and set a $45.00 price objective on shares of REGENXBIO in a research report on Wednesday, February 21st. Royal Bank of Canada upgraded REGENXBIO from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $20.00 to $35.00 in a report on Friday, March 8th. Chardan Capital reiterated a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research note on Thursday, March 7th. SVB Leerink upgraded shares of REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 price target on the stock in a research note on Wednesday, March 6th. Finally, Wedbush restated a “neutral” rating and issued a $21.00 price objective on shares of REGENXBIO in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, REGENXBIO currently has an average rating of “Moderate Buy” and a consensus target price of $38.45.

REGENXBIO Stock Down 1.7 %

NASDAQ:RGNX opened at $16.67 on Tuesday. The stock has a fifty day simple moving average of $19.51 and a 200 day simple moving average of $17.86. The firm has a market capitalization of $817.50 million, a price-to-earnings ratio of -2.76 and a beta of 1.38. REGENXBIO has a 1-year low of $11.83 and a 1-year high of $28.80.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.16). REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The firm had revenue of $22.30 million during the quarter, compared to analysts’ expectations of $34.01 million. During the same period last year, the business earned ($1.38) earnings per share. The business’s revenue was down 28.8% on a year-over-year basis. Equities analysts predict that REGENXBIO will post -3.98 earnings per share for the current year.

Insider Transactions at REGENXBIO

In related news, CEO Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total transaction of $251,400.00. Following the completion of the sale, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at approximately $6,838,666.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total value of $251,400.00. Following the completion of the sale, the chief executive officer now directly owns 408,035 shares in the company, valued at $6,838,666.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steve Pakola sold 12,878 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total transaction of $365,220.08. Following the transaction, the insider now owns 107,192 shares in the company, valued at approximately $3,039,965.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,878 shares of company stock valued at $1,217,370. Corporate insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in REGENXBIO by 0.8% in the third quarter. Vanguard Group Inc. now owns 4,376,573 shares of the biotechnology company’s stock valued at $72,038,000 after acquiring an additional 36,531 shares during the last quarter. Redmile Group LLC grew its stake in shares of REGENXBIO by 27.0% during the third quarter. Redmile Group LLC now owns 2,574,042 shares of the biotechnology company’s stock worth $42,369,000 after purchasing an additional 547,466 shares during the period. Dimensional Fund Advisors LP increased its holdings in REGENXBIO by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,226,957 shares of the biotechnology company’s stock valued at $22,025,000 after purchasing an additional 34,385 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in REGENXBIO by 0.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 562,391 shares of the biotechnology company’s stock valued at $9,257,000 after buying an additional 1,493 shares during the period. Finally, Perceptive Advisors LLC bought a new position in REGENXBIO during the fourth quarter worth about $6,146,000. 88.08% of the stock is currently owned by institutional investors.

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.