REGENXBIO (NASDAQ:RGNX) Raised to Hold at Wall Street Zen

REGENXBIO (NASDAQ:RGNX) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

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

REGENXBIO Stock Up 8.6%

Shares of RGNX opened at $11.80 on Monday. The company has a market capitalization of $597.32 million, a price-to-earnings ratio of -3.40 and a beta of 1.22. The stock’s 50-day moving average price is $11.15 and its 200-day moving average price is $9.66. REGENXBIO has a 52 week low of $5.03 and a 52 week high of $13.93.

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

Insider Buying and Selling at REGENXBIO

In other news, CEO Curran Simpson sold 20,811 shares of the stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $12.62, for a total value of $262,634.82. Following the completion of the transaction, the chief executive officer owned 216,162 shares in the company, valued at $2,727,964.44. This trade represents a 8.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 36,169 shares of company stock worth $416,598. Corporate insiders own 12.79% of the company’s stock.

Institutional Trading of REGENXBIO

A number of institutional investors have recently bought and sold shares of RGNX. JPMorgan Chase & Co. increased its position in shares of REGENXBIO by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company’s stock valued at $38,959,000 after buying an additional 185,223 shares in the last quarter. Vanguard Group Inc. grew its position in shares of REGENXBIO by 16.3% in the first quarter. Vanguard Group Inc. now owns 3,472,988 shares of the biotechnology company’s stock valued at $24,832,000 after purchasing an additional 487,036 shares during the period. Geode Capital Management LLC grew its holdings in REGENXBIO by 1.9% in the second quarter. Geode Capital Management LLC now owns 1,128,521 shares of the biotechnology company’s stock valued at $9,267,000 after purchasing an additional 21,575 shares during the period. Integral Health Asset Management LLC increased its holdings in shares of REGENXBIO by 57.1% during the 3rd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $10,615,000 after buying an additional 400,000 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of REGENXBIO by 49.9% in the 2nd quarter. AQR Capital Management LLC now owns 930,196 shares of the biotechnology company’s stock worth $7,637,000 after purchasing an additional 309,601 shares during the period. 88.08% of the stock is currently owned by hedge funds and other 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.