REGENXBIO (NASDAQ:RGNX) Downgraded by StockNews.com

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

A number of other brokerages also recently issued reports on RGNX. Royal Bank of Canada raised shares of REGENXBIO from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $20.00 to $35.00 in a report on Friday, March 8th. HC Wainwright restated a “buy” rating and issued a $36.00 price target on shares of REGENXBIO in a research note on Monday, March 11th. Wedbush reiterated a “neutral” rating and set a $21.00 price target on shares of REGENXBIO in a research report on Wednesday, February 28th. Leerink Partnrs upgraded REGENXBIO from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 6th. Finally, Chardan Capital reiterated a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, REGENXBIO has an average rating of “Moderate Buy” and an average price target of $38.45.

REGENXBIO Trading Up 0.5 %

RGNX traded up $0.09 during midday trading on Tuesday, hitting $16.96. 402,096 shares of the company were exchanged, compared to its average volume of 685,092. The company’s 50 day simple moving average is $19.57 and its 200 day simple moving average is $17.87. The firm has a market capitalization of $831.72 million, a price-to-earnings ratio of -2.81 and a beta of 1.38. REGENXBIO has a 1-year low of $11.83 and a 1-year high of $28.80.

REGENXBIO (NASDAQ:RGNX) last posted its earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.16). REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The company had revenue of $22.30 million for the quarter, compared to analyst estimates of $34.01 million. During the same period last year, the business earned ($1.38) earnings per share. The firm’s revenue was down 28.8% on a year-over-year basis. On average, equities analysts anticipate that REGENXBIO will post -3.98 EPS for the current year.

Insider Activity at REGENXBIO

In other news, insider Steve Pakola sold 12,878 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total transaction of $365,220.08. Following the transaction, the insider now directly owns 107,192 shares in the company, valued at approximately $3,039,965.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other REGENXBIO news, insider Steve Pakola sold 12,878 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the sale, the insider now directly owns 107,192 shares of the company’s stock, valued at approximately $3,039,965.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total value of $251,400.00. Following the transaction, the chief executive officer now owns 408,035 shares in the company, valued at approximately $6,838,666.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,878 shares of company stock valued at $1,217,370. Corporate insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in REGENXBIO by 0.8% in the third quarter. Vanguard Group Inc. now owns 4,376,573 shares of the biotechnology company’s stock valued at $72,038,000 after acquiring an additional 36,531 shares during the last quarter. Redmile Group LLC increased its position in shares of REGENXBIO by 27.0% during the 3rd quarter. Redmile Group LLC now owns 2,574,042 shares of the biotechnology company’s stock worth $42,369,000 after purchasing an additional 547,466 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in REGENXBIO by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,226,957 shares of the biotechnology company’s stock valued at $22,025,000 after buying an additional 34,385 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in REGENXBIO by 0.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 562,391 shares of the biotechnology company’s stock valued at $9,257,000 after buying an additional 1,493 shares during the period. Finally, Perceptive Advisors LLC acquired a new position in REGENXBIO in the fourth quarter valued at about $6,146,000. Hedge funds and other 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.