BidaskClub Upgrades Regenxbio (NASDAQ:RGNX) to Hold

Regenxbio (NASDAQ:RGNX) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Thursday, BidAskClub reports.

A number of other research firms have also recently commented on RGNX. Zacks Investment Research cut Regenxbio from a “hold” rating to a “sell” rating in a research report on Thursday, September 19th. Morgan Stanley set a $84.00 price objective on Regenxbio and gave the company a “buy” rating in a research report on Monday, July 15th. Raymond James began coverage on Regenxbio in a research report on Thursday, June 13th. They set an “outperform” rating for the company. Evercore ISI set a $79.00 price objective on Regenxbio and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, ValuEngine upgraded Regenxbio from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Regenxbio presently has a consensus rating of “Buy” and a consensus price target of $79.56.

Regenxbio stock traded up $0.53 during mid-day trading on Thursday, reaching $38.49. 530,209 shares of the stock traded hands, compared to its average volume of 630,346. The stock has a market capitalization of $1.40 billion, a PE ratio of 16.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.58 and a quick ratio of 14.58. Regenxbio has a 12-month low of $30.38 and a 12-month high of $73.81. The business’s 50-day moving average is $35.70 and its 200-day moving average is $46.02.

Regenxbio (NASDAQ:RGNX) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.46. The company had revenue of $7.88 million during the quarter, compared to analysts’ expectations of $5.45 million. Regenxbio had a negative return on equity of 15.39% and a negative net margin of 88.57%. Regenxbio’s revenue for the quarter was down 80.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. Equities analysts anticipate that Regenxbio will post -2.85 EPS for the current fiscal year.

In other Regenxbio news, insider Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $49.49, for a total value of $742,350.00. Following the completion of the sale, the insider now owns 261,000 shares in the company, valued at $12,916,890. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Patrick J. Christmas sold 5,000 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $50.03, for a total value of $250,150.00. Following the completion of the sale, the senior vice president now 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 90 days, insiders sold 50,486 shares of company stock valued at $2,183,662. Company insiders own 13.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue increased its position in Regenxbio by 129.5% in the third quarter. State of Alaska Department of Revenue now owns 24,038 shares of the biotechnology company’s stock worth $855,000 after buying an additional 13,564 shares in the last quarter. BlackRock Inc. boosted its stake in Regenxbio by 3.5% during the second quarter. BlackRock Inc. now owns 5,047,103 shares of the biotechnology company’s stock valued at $259,270,000 after buying an additional 169,888 shares during the last quarter. Royal Bank of Canada boosted its stake in Regenxbio by 36.2% during the second quarter. Royal Bank of Canada now owns 3,910 shares of the biotechnology company’s stock valued at $201,000 after buying an additional 1,040 shares during the last quarter. UBS Group AG boosted its stake in Regenxbio by 438.6% during the second quarter. UBS Group AG now owns 263,094 shares of the biotechnology company’s stock valued at $13,515,000 after buying an additional 214,244 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new position in Regenxbio during the second quarter valued at approximately $10,206,000. Institutional investors and hedge funds own 79.40% of the company’s stock.

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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