REGENXBIO (NASDAQ:RGNX) Cut to “Sell” at Wall Street Zen

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

Several other research firms have also commented on RGNX. Barclays decreased their price objective 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. Chardan Capital reaffirmed a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a report on Monday, September 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of REGENXBIO in a research report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $34.00 price objective on shares of REGENXBIO in a research report on Tuesday, October 7th. Finally, Royal Bank Of Canada upped their target price on REGENXBIO from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.63.

REGENXBIO Price Performance

NASDAQ RGNX opened at $11.51 on Friday. The business has a 50 day moving average price of $10.98 and a 200 day moving average price of $9.58. The company has a market capitalization of $582.64 million, a P/E ratio of -3.32 and a beta of 1.23. REGENXBIO has a 1-year low of $5.03 and a 1-year high of $13.93.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.18. The company had revenue of $29.73 million for the quarter, compared to the consensus estimate of $24.41 million. REGENXBIO had a negative return on equity of 78.29% and a negative net margin of 110.29%. On average, research analysts expect that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Curran Simpson sold 20,811 shares of the stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $12.62, for a total transaction of $262,634.82. Following the transaction, the chief executive officer directly owned 216,162 shares in the company, valued at approximately $2,727,964.44. This represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 36,169 shares of company stock valued at $416,598 in the last ninety days. Corporate insiders own 12.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RGNX. Creative Planning lifted its holdings in shares of REGENXBIO by 77.2% during the 3rd quarter. Creative Planning now owns 25,913 shares of the biotechnology company’s stock worth $250,000 after acquiring an additional 11,293 shares during the period. Man Group plc raised its stake in REGENXBIO by 32.5% during the third quarter. Man Group plc now owns 112,398 shares of the biotechnology company’s stock worth $1,085,000 after purchasing an additional 27,599 shares during the period. Integral Health Asset Management LLC boosted its holdings in shares of REGENXBIO by 57.1% in the 3rd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock valued at $10,615,000 after purchasing an additional 400,000 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of REGENXBIO by 18.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 17,724 shares of the biotechnology company’s stock valued at $171,000 after buying an additional 2,800 shares during the period. Finally, Inceptionr LLC acquired a new stake in shares of REGENXBIO during the 3rd quarter worth $117,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.