Regenxbio (RGNX) Stock Rating Reaffirmed by Chardan Capital
Regenxbio (NASDAQ:RGNX)‘s stock had its “buy” rating reiterated by investment analysts at Chardan Capital in a research note issued on Monday.
The analysts wrote, “We have long highlighted the importance of vector science for the progress in GT; and, we see Commissioner Gottlieb’s comments as highly supportive of our views. We again highlight REGENXBIO (Buy) (a Chardan Top Pick for 2017, and our Gene Therapy Top Pick) as the best way to play the emergence of in vivo GT, due to the company’s: (1) rights to 100+ vectors, (2) partnerships with 10 companies, (3) 25 or so internal and external product candidates, over 10 of which are in clinical development, and (4) abundance of important 2017 catalysts, which to us represent upside options.””
Other analysts have also recently issued reports about the stock. Bank of America restated a “buy” rating and set a $38.00 price target (up from $33.00) on shares of Regenxbio in a research note on Monday, October 9th. BidaskClub upgraded shares of Regenxbio from a “hold” rating to a “buy” rating in a research note on Thursday. TheStreet cut shares of Regenxbio from a “c” rating to a “d+” rating in a research note on Tuesday, November 28th. Zacks Investment Research cut shares of Regenxbio from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Finally, Evercore ISI started coverage on shares of Regenxbio in a research note on Wednesday, August 16th. They set an “outperform” rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $42.43.
Regenxbio (NASDAQ:RGNX) last released its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.67) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.71) by $0.04. The firm had revenue of $1.34 million for the quarter. Regenxbio had a negative net margin of 764.06% and a negative return on equity of 39.33%. equities research analysts anticipate that Regenxbio will post -2.71 EPS for the current year.
In related news, SVP Curran Simpson sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $29.31, for a total transaction of $58,620.00. Following the sale, the senior vice president now owns 41,500 shares of the company’s stock, valued at approximately $1,216,365. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kenneth T. Mills sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $27.71, for a total transaction of $277,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 144,000 shares of company stock worth $4,415,296 over the last 90 days. 17.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of RGNX. State Street Corp increased its holdings in Regenxbio by 178.1% during the 2nd quarter. State Street Corp now owns 880,844 shares of the biotechnology company’s stock worth $17,399,000 after acquiring an additional 564,129 shares during the period. GMT Capital Corp increased its holdings in Regenxbio by 1,086.2% during the 2nd quarter. GMT Capital Corp now owns 609,700 shares of the biotechnology company’s stock worth $12,346,000 after acquiring an additional 558,300 shares during the period. Redmile Group LLC increased its holdings in Regenxbio by 35.4% during the 2nd quarter. Redmile Group LLC now owns 1,718,671 shares of the biotechnology company’s stock worth $33,944,000 after acquiring an additional 449,540 shares during the period. Citadel Advisors LLC increased its holdings in Regenxbio by 65.4% during the 2nd quarter. Citadel Advisors LLC now owns 926,176 shares of the biotechnology company’s stock worth $18,292,000 after acquiring an additional 366,289 shares during the period. Finally, RTW Investments LP increased its holdings in Regenxbio by 20.9% during the 3rd quarter. RTW Investments LP now owns 1,539,005 shares of the biotechnology company’s stock worth $50,710,000 after acquiring an additional 266,235 shares during the period. 68.73% of the stock is currently owned by institutional investors and hedge funds.
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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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