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

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

A number of other research firms have also commented on RGNX. The Goldman Sachs Group began coverage on REGENXBIO in a research note on Friday, June 7th. They issued a buy rating and a $38.00 price objective on the stock. HC Wainwright reiterated a buy rating and issued a $39.00 price objective on shares of REGENXBIO in a report on Wednesday, September 4th. Finally, Barclays decreased their price target on shares of REGENXBIO from $55.00 to $50.00 and set an overweight rating for the company in a report on Monday, August 5th. Three 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, REGENXBIO currently has a consensus rating of Moderate Buy and a consensus price target of $37.91.

REGENXBIO Stock Down 0.2 %

RGNX opened at $11.67 on Friday. The stock’s 50 day moving average price is $12.49 and its two-hundred day moving average price is $14.86. The firm has a market capitalization of $574.82 million, a P/E ratio of -1.98 and a beta of 1.22. REGENXBIO has a 12-month low of $10.49 and a 12-month high of $28.80.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.24. The firm had revenue of $22.30 million for the quarter, compared to analyst estimates of $22.97 million. REGENXBIO had a negative net margin of 270.74% and a negative return on equity of 68.21%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.66) EPS. As a group, analysts anticipate that REGENXBIO will post -4.66 earnings per share for the current year.

Insider Transactions at REGENXBIO

In other news, Director Kenneth T. Mills sold 2,210 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $13.77, for a total value of $30,431.70. Following the completion of the sale, the director now owns 408,035 shares of the company’s stock, valued at approximately $5,618,641.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Kenneth T. Mills sold 2,210 shares of REGENXBIO stock in a transaction that occurred on 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 transaction, the director now directly owns 408,035 shares in the company, valued at approximately $5,618,641.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Argeris N. Karabelas sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.56, for a total transaction of $115,600.00. Following the completion of the transaction, the director now owns 11,286 shares in the company, valued at $130,466.16. The disclosure for this sale can be found here. Insiders sold a total of 65,279 shares of company stock worth $875,634 in the last three months. Insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its holdings in REGENXBIO by 73.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 746 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of REGENXBIO in the 1st quarter valued at $56,000. Headlands Technologies LLC increased its stake in shares of REGENXBIO by 276.8% in the 1st quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock valued at $81,000 after purchasing an additional 2,812 shares during the last quarter. Diversified Trust Co acquired a new position in shares of REGENXBIO during the 2nd quarter worth $121,000. Finally, Arizona State Retirement System lifted its position in shares of REGENXBIO by 20.6% during the 2nd quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock worth $137,000 after buying an additional 1,997 shares during the last quarter. Institutional investors 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.