Zacks Investment Research Downgrades Regenxbio Inc (RGNX) to Hold
Regenxbio Inc (NASDAQ:RGNX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “REGENXBIO Inc. is a biotechnology company. The Company focuses on the development, commercialization and licensing of recombinant adeno-associated virus gene therapy. Its products candidates include RGX-501, for the treatment of homozygous familial hypercholesterolemia which uses the AAV8 vector to deliver the human low-density lipoprotein receptor gene to liver cells; RGX-111, for the treatment of Mucopolysaccharidosis Type I which uses the AAV9 vector to deliver the human a-l-iduronidase gene to the central nervous system; RGX-121, for the treatment of Mucopolysaccharidosis Type II; RGX-314, for the treatment of wet age-related macular degeneration and RGX-321, for the treatment of X-linked retinitis pigmentosa. REGENXBIO Inc. is headquartered in Rockville, Maryland. “
A number of other research firms have also recently issued reports on RGNX. Evercore ISI began coverage on Regenxbio in a report on Wednesday. They set an “outperform” rating and a $25.00 price target on the stock. BidaskClub upgraded Regenxbio from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Finally, Chardan Capital increased their price target on Regenxbio from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $32.00.
Regenxbio (NASDAQ:RGNX) traded down 0.25% on Thursday, reaching $19.95. 221,875 shares of the company traded hands. The stock’s market capitalization is $616.34 million. The firm has a 50 day moving average of $19.64 and a 200-day moving average of $19.39. Regenxbio has a one year low of $11.35 and a one year high of $24.55.
Regenxbio (NASDAQ:RGNX) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.34. The firm had revenue of $6.56 million for the quarter. Regenxbio had a negative return on equity of 27.34% and a negative net margin of 220.56%. On average, analysts anticipate that Regenxbio will post ($2.71) EPS for the current year.
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In related news, CFO Vittal Vasista sold 3,040 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $21.09, for a total value of $64,113.60. Following the transaction, the chief financial officer now directly owns 103,118 shares in the company, valued at approximately $2,174,758.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kenneth T. Mills sold 6,500 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $18.66, for a total value of $121,290.00. Following the completion of the transaction, the insider now owns 112,000 shares in the company, valued at $2,089,920. The disclosure for this sale can be found here. Insiders have sold a total of 22,240 shares of company stock worth $432,860 over the last 90 days. Company insiders own 17.00% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Regenxbio by 41.4% in the second quarter. Legal & General Group Plc now owns 6,870 shares of the biotechnology company’s stock worth $137,000 after buying an additional 2,011 shares in the last quarter. Oxford Asset Management purchased a new position in shares of Regenxbio during the first quarter worth about $206,000. American International Group Inc. boosted its position in shares of Regenxbio by 7.1% in the first quarter. American International Group Inc. now owns 12,468 shares of the biotechnology company’s stock worth $241,000 after buying an additional 822 shares in the last quarter. Voya Investment Management LLC purchased a new position in shares of Regenxbio during the second quarter worth about $249,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Regenxbio during the first quarter worth about $272,000. Institutional investors own 67.84% of the company’s stock.
REGENXBIO Inc is a clinical-stage biotechnology company. The Company’s gene therapy product candidates are designed to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. The Company develops products candidates across the therapeutic areas of metabolic, neurodegenerative and retinal diseases.
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