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

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

A number of other equities analysts also recently commented on RGNX. Chardan Capital restated a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research note on Thursday. HC Wainwright restated a “buy” rating and set a $34.00 price target on shares of REGENXBIO in a research report on Tuesday, October 7th. Barclays cut their price objective on REGENXBIO from $50.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of REGENXBIO in a report on Wednesday, October 8th. Finally, 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 report on Friday, November 7th. Five equities research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.63.

REGENXBIO Price Performance

RGNX opened at $11.80 on Monday. The stock has a market capitalization of $597.32 million, a PE ratio of -3.40 and a beta of 1.22. The firm’s fifty day moving average price is $11.15 and its 200 day moving average price is $9.66. REGENXBIO has a 12-month low of $5.03 and a 12-month high of $13.93.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly 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 business had revenue of $29.73 million during 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, equities research analysts forecast that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Curran Simpson sold 20,811 shares of the firm’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $12.62, for a total transaction of $262,634.82. Following the transaction, the chief executive officer owned 216,162 shares in the company, valued at approximately $2,727,964.44. This trade represents a 8.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 36,169 shares of company stock valued at $416,598 over the last ninety days. Insiders own 12.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RGNX. State of Alaska Department of Revenue bought a new position in shares of REGENXBIO in the third quarter valued at approximately $25,000. Aquatic Capital Management LLC acquired a new stake in REGENXBIO during the third quarter valued at approximately $37,000. Brooklyn Investment Group lifted its holdings in shares of REGENXBIO by 163.7% during the first quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 3,466 shares during the period. Jones Financial Companies Lllp boosted its position in REGENXBIO by 44.4% in the third quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 1,270 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in REGENXBIO by 754.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company’s stock worth $46,000 after acquiring an additional 5,000 shares during the last quarter. 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.