StockNews.com Upgrades REGENXBIO (NASDAQ:RGNX) to “Hold”

REGENXBIO (NASDAQ:RGNX) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group initiated coverage on shares of REGENXBIO in a report on Friday, June 7th. They issued a “buy” rating and a $38.00 target price on the stock. Barclays lowered their price objective on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $39.00 price target on shares of REGENXBIO in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.91.

REGENXBIO Stock Down 0.2 %

Shares of RGNX stock opened at $12.50 on Friday. The stock’s 50-day moving average price is $12.54 and its 200 day moving average price is $15.14. The stock has a market capitalization of $615.70 million, a PE ratio of -2.13 and a beta of 1.22. REGENXBIO has a 52-week low of $10.49 and a 52-week high of $28.80.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.24. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. The business had revenue of $22.30 million for the quarter, compared to analyst estimates of $22.97 million. During the same quarter in the previous year, the company posted ($1.66) earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts expect that REGENXBIO will post -4.66 earnings per share for the current fiscal year.

Insider Buying and Selling at REGENXBIO

In other news, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.56, for a total transaction of $115,600.00. Following the completion of the transaction, the director now owns 11,286 shares of the company’s stock, valued at approximately $130,466.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $11.56, for a total transaction of $115,600.00. Following the completion of the transaction, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $130,466.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Curran Simpson sold 9,648 shares of REGENXBIO stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.04, for a total value of $145,105.92. Following the transaction, the chief executive officer now owns 170,137 shares of the company’s stock, valued at $2,558,860.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,279 shares of company stock valued at $875,634. Insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

Several institutional investors and hedge funds have recently made changes to their positions in RGNX. PNC Financial Services Group Inc. raised its stake 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 valued at $32,000 after purchasing an additional 746 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of REGENXBIO in the first quarter valued at approximately $56,000. Headlands Technologies LLC lifted 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 valued at $81,000 after buying an additional 2,812 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in REGENXBIO by 67.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 8,519 shares of the biotechnology company’s stock worth $179,000 after acquiring an additional 3,426 shares during the last quarter. Finally, Diversified Trust Co purchased a new stake in REGENXBIO in the 2nd quarter worth approximately $121,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.