REGENXBIO (NASDAQ:RGNX) Downgraded by StockNews.com

StockNews.com cut shares of REGENXBIO (NASDAQ:RGNX) from a hold rating to a sell rating in a research note published on Thursday morning.

RGNX has been the subject of a number of other research reports. The Goldman Sachs Group initiated coverage on shares of REGENXBIO in a report on Friday, June 7th. They set a buy rating and a $38.00 price objective for the company. Barclays lowered their price target on REGENXBIO from $55.00 to $50.00 and set an overweight rating for the company in a report on Monday, August 5th. Finally, HC Wainwright restated a buy rating and set a $39.00 price objective on shares of REGENXBIO in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $37.91.

REGENXBIO Stock Performance

NASDAQ:RGNX opened at $12.84 on Thursday. The firm has a market capitalization of $634.55 million, a PE ratio of -2.18 and a beta of 1.22. The stock’s fifty day moving average is $12.42 and its 200 day moving average is $15.33. REGENXBIO has a fifty-two week low of $10.49 and a fifty-two week high of $28.80.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.24. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 68.21%. The company had revenue of $22.30 million for the quarter, compared to analyst estimates of $22.97 million. During the same period in the prior year, the company posted ($1.66) EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts forecast that REGENXBIO will post -4.66 EPS for the current year.

Insider Activity

In related news, Director Kenneth T. Mills sold 2,210 shares of REGENXBIO stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $13.77, for a total value of $30,431.70. Following the completion of the sale, the director now directly owns 408,035 shares in the company, valued at approximately $5,618,641.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other REGENXBIO news, Director Kenneth T. Mills sold 2,210 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $13.77, for a total transaction of $30,431.70. Following the sale, the director now owns 408,035 shares in the company, valued at approximately $5,618,641.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $11.27, for a total value of $112,700.00. Following the completion of the transaction, the director now owns 11,286 shares of the company’s stock, valued at $127,193.22. The disclosure for this sale can be found here. Insiders have sold a total of 65,279 shares of company stock worth $875,634 over the last 90 days. 13.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On REGENXBIO

Several institutional investors and hedge funds have recently modified their holdings of RGNX. PNC Financial Services Group Inc. increased its holdings in REGENXBIO by 73.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 746 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of REGENXBIO in the first quarter valued at about $56,000. Headlands Technologies LLC increased its stake in shares of REGENXBIO by 276.8% during the first quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 2,812 shares in the last quarter. Diversified Trust Co acquired a new position in shares of REGENXBIO during the 2nd quarter worth about $121,000. Finally, Arizona State Retirement System raised its position in shares of REGENXBIO by 20.6% during the 2nd quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 1,997 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.