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

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

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group began coverage on REGENXBIO in a research report on Friday, June 7th. They issued a buy rating and a $38.00 price objective for the company. Barclays lowered their price objective on REGENXBIO from $55.00 to $50.00 and set an overweight rating for the company in a research report on Monday, August 5th. 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. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, REGENXBIO currently has an average rating of Moderate Buy and an average target price of $37.91.

REGENXBIO Stock Down 6.5 %

NASDAQ RGNX opened at $11.69 on Friday. REGENXBIO has a fifty-two week low of $10.49 and a fifty-two week high of $28.80. The stock has a market cap of $575.80 million, a price-to-earnings ratio of -1.99 and a beta of 1.22. The business has a fifty day moving average of $12.52 and a 200-day moving average of $14.94.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results 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 return on equity of 68.21% and a negative net margin of 270.74%. The company had revenue of $22.30 million during the quarter, compared to analysts’ expectations of $22.97 million. During the same period in the previous year, the firm posted ($1.66) earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts anticipate that REGENXBIO will post -4.66 EPS for the current year.

Insider Buying and Selling at REGENXBIO

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 completion of the sale, the director now owns 408,035 shares of the company’s stock, valued at $5,618,641.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the director now owns 408,035 shares in the company, valued at $5,618,641.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.56, for a total value of $115,600.00. Following the transaction, the director now owns 11,286 shares in the company, valued at approximately $130,466.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,279 shares of company stock valued at $875,634. Company insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its stake in shares of REGENXBIO by 73.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 746 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of REGENXBIO during the first quarter worth about $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 worth $81,000 after purchasing an additional 2,812 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of 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 purchasing an additional 3,426 shares in the last quarter. Finally, Diversified Trust Co acquired a new position in shares of REGENXBIO during the second quarter worth about $121,000. 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.