Regenxbio (NASDAQ:RGNX) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of Regenxbio (NASDAQ:RGNX) from a strong sell rating to a sell rating in a research note issued to investors on Thursday, BidAskClub reports.

RGNX has been the subject of a number of other research reports. Leerink Swann raised shares of Regenxbio from an underperform rating to a market perform rating in a research report on Tuesday, August 20th. They noted that the move was a valuation call. Raymond James started coverage on shares of Regenxbio in a research report on Thursday, June 13th. They issued an outperform rating for the company. Morgan Stanley set a $84.00 target price on shares of Regenxbio and gave the company a buy rating in a research report on Monday, July 15th. Chardan Capital set a $150.00 price objective on shares of Regenxbio and gave the company a buy rating in a research report on Wednesday, September 4th. Finally, Zacks Investment Research raised shares of Regenxbio from a sell rating to a hold rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Regenxbio has an average rating of Buy and a consensus target price of $79.56.

Regenxbio stock traded down $1.73 during mid-day trading on Thursday, reaching $37.83. The company’s stock had a trading volume of 89,441 shares, compared to its average volume of 475,878. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 15.97 and a beta of 0.82. Regenxbio has a 12 month low of $30.38 and a 12 month high of $83.45. The business’s 50 day simple moving average is $38.32 and its 200 day simple moving average is $47.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.58 and a current ratio of 14.58.

Regenxbio (NASDAQ:RGNX) last released its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.46. The business had revenue of $7.88 million during the quarter, compared to the consensus estimate of $5.45 million. Regenxbio had a negative net margin of 88.57% and a negative return on equity of 15.39%. The firm’s revenue for the quarter was down 80.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share. As a group, sell-side analysts expect that Regenxbio will post -2.85 EPS for the current year.

In other news, insider Kenneth T. Mills sold 15,000 shares of Regenxbio stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $52.54, for a total value of $788,100.00. Following the completion of the transaction, the insider now owns 261,000 shares of the company’s stock, valued at approximately $13,712,940. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Patrick J. Christmas sold 5,000 shares of Regenxbio stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $50.03, for a total transaction of $250,150.00. Following the completion of the transaction, the senior vice president now directly owns 3,058 shares of the company’s stock, valued at approximately $152,991.74. The disclosure for this sale can be found here. In the last three months, insiders sold 55,000 shares of company stock valued at $2,608,800. Insiders own 13.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Berman Capital Advisors LLC boosted its holdings in shares of Regenxbio by 41.6% during the 2nd quarter. Berman Capital Advisors LLC now owns 1,133 shares of the biotechnology company’s stock worth $58,000 after buying an additional 333 shares during the period. NEXT Financial Group Inc bought a new stake in shares of Regenxbio during the 2nd quarter worth about $69,000. SG3 Management LLC bought a new stake in shares of Regenxbio during the 1st quarter worth about $115,000. Royal Bank of Canada boosted its holdings in shares of Regenxbio by 36.2% during the 2nd quarter. Royal Bank of Canada now owns 3,910 shares of the biotechnology company’s stock worth $201,000 after buying an additional 1,040 shares during the period. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Regenxbio during the 2nd quarter worth about $216,000. 79.43% of the stock is owned by institutional investors and hedge funds.

About Regenxbio

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.

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Analyst Recommendations for Regenxbio (NASDAQ:RGNX)

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