Wall Street Zen Upgrades REGENXBIO (NASDAQ:RGNX) to “Hold”

by · The Markets Daily

REGENXBIO (NASDAQ:RGNX – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Monday.

Several other research firms have also recently weighed in on RGNX. Royal Bank Of Canada lifted their price objective on shares of REGENXBIO from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Chardan Capital reiterated a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a report on Thursday, November 20th. Barclays reduced their price objective on REGENXBIO from $50.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of REGENXBIO in a research note on Wednesday, October 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $34.00 target price on shares of REGENXBIO in a report on Tuesday, October 7th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.63.

Read Our Latest Stock Report on REGENXBIO

REGENXBIO Trading Up 10.0%

RGNX stock opened at $13.45 on Monday. REGENXBIO has a one year low of $5.03 and a one year high of $13.93. The firm has a 50-day moving average of $11.30 and a two-hundred day moving average of $9.74. The firm has a market capitalization of $680.84 million, a PE ratio of -3.88 and a beta of 1.23.

REGENXBIO (NASDAQ:RGNX – Get Free Report) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.18. The business had revenue of $29.73 million for the quarter, compared to the consensus estimate of $24.41 million. REGENXBIO had a negative net margin of 110.29% and a negative return on equity of 78.29%. On average, equities research analysts anticipate that REGENXBIO will post -4.84 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Curran Simpson sold 20,811 shares of the firm’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $12.62, for a total transaction of $262,634.82. Following the completion of the sale, the chief executive officer directly owned 216,162 shares of the company’s stock, valued at $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 is available at this hyperlink. Over the last quarter, insiders sold 36,169 shares of company stock valued at $416,598. Corporate insiders own 12.79% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Several large investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its position in REGENXBIO by 33.9% during the third quarter. CANADA LIFE ASSURANCE Co now owns 14,510 shares of the biotechnology company’s stock valued at $143,000 after acquiring an additional 3,671 shares in the last quarter. Mariner LLC increased its stake in shares of REGENXBIO by 150.4% during the 3rd quarter. Mariner LLC now owns 32,306 shares of the biotechnology company’s stock worth $312,000 after purchasing an additional 19,402 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of REGENXBIO during the 3rd quarter valued at $192,000. Invenomic Capital Management LP acquired a new stake in shares of REGENXBIO in the 3rd quarter valued at $4,120,000. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of REGENXBIO in the 3rd quarter valued at $158,000. Institutional investors own 88.08% of the company’s stock.

About REGENXBIO

(Get Free Report)

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.

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