REGENXBIO (NASDAQ:RGNX) Lifted to Hold at StockNews.com

REGENXBIO (NASDAQ:RGNXGet Free Report) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other equities research analysts also recently commented on RGNX. Royal Bank of Canada raised shares of REGENXBIO from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $20.00 to $35.00 in a research report on Friday, March 8th. Leerink Partnrs upgraded shares of REGENXBIO from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 6th. Robert W. Baird raised their price objective on shares of REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. SVB Leerink upgraded shares of REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 price objective for the company in a research note on Wednesday, March 6th. Finally, Raymond James restated an “outperform” rating and set a $45.00 target price on shares of REGENXBIO in a report on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Check Out Our Latest Report on REGENXBIO

REGENXBIO Stock Down 5.8 %

REGENXBIO stock opened at $20.29 on Wednesday. The firm has a market cap of $901.48 million, a PE ratio of -3.36 and a beta of 1.29. REGENXBIO has a 52-week low of $11.83 and a 52-week high of $28.80. The company’s 50 day moving average is $18.77 and its two-hundred day moving average is $17.76.

REGENXBIO (NASDAQ:RGNXGet Free Report) last released its earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.16). REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The business had revenue of $22.30 million for the quarter, compared to analyst estimates of $34.01 million. During the same quarter last year, the company earned ($1.38) earnings per share. REGENXBIO’s quarterly revenue was down 28.8% compared to the same quarter last year. On average, equities research analysts anticipate that REGENXBIO will post -3.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kenneth T. Mills sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $15.18, for a total transaction of $683,100.00. Following the completion of the transaction, the chief executive officer now owns 408,035 shares of the company’s stock, valued at $6,193,971.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total value of $251,400.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at $6,838,666.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth T. Mills sold 45,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $15.18, for a total transaction of $683,100.00. Following the completion of the transaction, the chief executive officer now owns 408,035 shares of the company’s stock, valued at $6,193,971.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,878 shares of company stock valued at $1,627,620. Insiders own 13.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RGNX. Envestnet Asset Management Inc. boosted its stake in REGENXBIO by 10.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 8,483 shares of the biotechnology company’s stock valued at $282,000 after acquiring an additional 804 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in REGENXBIO by 19.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 59,496 shares of the biotechnology company’s stock valued at $1,975,000 after acquiring an additional 9,765 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in REGENXBIO by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 344,671 shares of the biotechnology company’s stock valued at $11,440,000 after acquiring an additional 921 shares during the last quarter. American Century Companies Inc. bought a new position in REGENXBIO during the 1st quarter valued at $1,593,000. Finally, MetLife Investment Management LLC boosted its stake in REGENXBIO by 54.6% during the 1st quarter. MetLife Investment Management LLC now owns 23,492 shares of the biotechnology company’s stock valued at $780,000 after acquiring an additional 8,295 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for REGENXBIO (NASDAQ:RGNX)

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