REGENXBIO (NASDAQ:RGNX) Downgraded to “Sell” at StockNews.com

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

Several other research analysts have also weighed in on the stock. Barclays lowered their price objective on shares of REGENXBIO from $55.00 to $50.00 and set an overweight rating on the stock in a research note on Monday, August 5th. The Goldman Sachs Group initiated coverage on REGENXBIO in a research report on Friday, June 7th. They set a buy rating and a $38.00 price target on the stock. Finally, HC Wainwright reaffirmed a buy rating and issued a $39.00 price objective on shares of REGENXBIO in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $37.91.

REGENXBIO Trading Up 5.4 %

Shares of RGNX opened at $12.84 on Thursday. The firm has a fifty day simple moving average of $12.42 and a 200 day simple moving average of $15.30. REGENXBIO has a 12 month low of $10.49 and a 12 month high of $28.80. The stock has a market capitalization of $634.55 million, a price-to-earnings ratio of -2.18 and a beta of 1.22.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share (EPS) for the quarter, topping 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 company had revenue of $22.30 million for the quarter, compared to analysts’ expectations of $22.97 million. During the same quarter in the prior year, the business posted ($1.66) EPS. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, research analysts predict that REGENXBIO will post -4.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Argeris N. Karabelas sold 10,000 shares of the company’s 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 sale, the director now directly owns 11,286 shares in the company, valued at approximately $130,466.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Argeris N. Karabelas sold 10,000 shares of the business’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 value of $115,600.00. Following the completion of the transaction, the director now directly owns 11,286 shares in the company, valued at approximately $130,466.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Argeris N. Karabelas sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.04, for a total transaction of $165,440.00. Following the sale, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $169,741.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,279 shares of company stock valued at $875,634. 13.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On REGENXBIO

A number of large investors have recently modified their holdings of RGNX. Charles Schwab Investment Management Inc. lifted its holdings in shares of REGENXBIO by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 327,451 shares of the biotechnology company’s stock worth $5,878,000 after acquiring an additional 1,683 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of REGENXBIO by 174.4% during the fourth quarter. BNP Paribas Financial Markets now owns 67,760 shares of the biotechnology company’s stock worth $1,216,000 after purchasing an additional 43,070 shares during the last quarter. Jump Financial LLC acquired a new position in shares of REGENXBIO in the fourth quarter valued at approximately $644,000. Dimensional Fund Advisors LP raised its holdings in REGENXBIO by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,226,957 shares of the biotechnology company’s stock valued at $22,025,000 after buying an additional 34,385 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in REGENXBIO by 2.4% during the 4th quarter. Panagora Asset Management Inc. now owns 222,363 shares of the biotechnology company’s stock worth $3,991,000 after buying an additional 5,184 shares during the period. 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.