REGENXBIO (NASDAQ:RGNX) Rating Lowered to Sell at StockNews.com

REGENXBIO (NASDAQ:RGNX) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other analysts have also recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $39.00 price objective on shares of REGENXBIO in a report on Wednesday, September 4th. The Goldman Sachs Group assumed coverage on shares of REGENXBIO in a research note on Friday, June 7th. They set a “buy” rating and a $38.00 price target for the company. Finally, Barclays reduced their price objective on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.91.

REGENXBIO Price Performance

Shares of REGENXBIO stock opened at $12.84 on Thursday. The firm has a 50 day simple moving average of $12.38 and a 200 day simple moving average of $15.37. REGENXBIO has a fifty-two week low of $10.49 and a fifty-two week high of $28.80. The firm has a market cap of $634.55 million, a P/E ratio of -2.18 and a beta of 1.22.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) EPS for the quarter, beating the consensus estimate 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 last year, the firm earned ($1.66) EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts expect that REGENXBIO will post -4.66 EPS for the current year.

Insider Activity

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $11.27, for a total transaction of $112,700.00. Following the transaction, the director now directly owns 11,286 shares in the company, valued at $127,193.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $11.27, for a total transaction of $112,700.00. Following the sale, the director now directly owns 11,286 shares in the company, valued at approximately $127,193.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Argeris N. Karabelas sold 11,000 shares of REGENXBIO stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.04, for a total transaction of $165,440.00. Following the completion of the transaction, the director now directly owns 11,286 shares in the company, valued at approximately $169,741.44. The disclosure for this sale can be found here. Insiders sold 65,279 shares of company stock valued at $875,634 in the last quarter. Company insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Several institutional investors have recently bought and sold shares of RGNX. PNC Financial Services Group Inc. grew its stake in shares of REGENXBIO by 73.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 746 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of REGENXBIO by 8.3% during the 1st quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock worth $240,000 after purchasing an additional 874 shares in the last quarter. Maryland State Retirement & Pension System raised its position in REGENXBIO by 7.2% during the second quarter. Maryland State Retirement & Pension System now owns 15,800 shares of the biotechnology company’s stock worth $185,000 after acquiring an additional 1,067 shares in the last quarter. Amalgamated Bank lifted its stake in REGENXBIO by 9.9% in the 2nd quarter. Amalgamated Bank now owns 13,613 shares of the biotechnology company’s stock valued at $159,000 after purchasing an additional 1,227 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in REGENXBIO by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock worth $383,000 after buying an additional 1,438 shares during the last quarter. Institutional investors own 88.08% of the company’s stock.

REGENXBIO Company Profile

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.