REGENXBIO (NASDAQ:RGNX) Upgraded at Wall Street Zen

REGENXBIO (NASDAQ:RGNX) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other research analysts have also issued reports about the company. Chardan Capital reaffirmed a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research report on Monday, September 8th. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price objective on shares of REGENXBIO in a research report on Tuesday, October 7th. Royal Bank Of Canada lifted their target price on shares of REGENXBIO from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays dropped their target price on shares of REGENXBIO from $50.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of REGENXBIO in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.63.

REGENXBIO Stock Up 0.4%

Shares of REGENXBIO stock opened at $11.21 on Friday. The company has a market cap of $566.22 million, a P/E ratio of -3.23 and a beta of 1.23. The firm’s 50 day moving average price is $10.78 and its 200-day moving average price is $9.49. REGENXBIO has a 52-week low of $5.03 and a 52-week high of $13.93.

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. The company had revenue of $29.73 million during the quarter, compared to the consensus estimate of $24.41 million. REGENXBIO had a negative net margin of 110.29% and a negative return on equity of 78.29%. As a group, equities research analysts forecast that REGENXBIO will post -4.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Curran Simpson sold 20,811 shares of the firm’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 $2,727,964.44. This trade represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 36,169 shares of company stock worth $416,598. Insiders own 12.79% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RGNX. Cerity Partners LLC acquired a new position in shares of REGENXBIO in the 1st quarter valued at about $228,000. CWM LLC raised its position in REGENXBIO by 6,181.4% during the first quarter. CWM LLC now owns 26,696 shares of the biotechnology company’s stock valued at $191,000 after acquiring an additional 26,271 shares in the last quarter. Caliber Wealth Management LLC KS acquired a new position in REGENXBIO in the first quarter valued at approximately $126,000. Corton Capital Inc. lifted its holdings in REGENXBIO by 54.6% in the first quarter. Corton Capital Inc. now owns 20,528 shares of the biotechnology company’s stock valued at $147,000 after acquiring an additional 7,252 shares during the period. Finally, GSA Capital Partners LLP boosted its position 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 purchasing an additional 114,043 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

About REGENXBIO

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.