Several other equities research analysts have also commented on RGNX. Raymond James reiterated a “buy” rating on shares of Regenxbio in a research note on Tuesday, August 25th. Bank of America began coverage on Regenxbio in a research note on Thursday, June 25th. They issued a “buy” rating and a $60.00 price objective for the company. Morgan Stanley lowered their price target on shares of Regenxbio from $56.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. Chardan Capital reiterated a “buy” rating and issued a $95.00 price objective on shares of Regenxbio in a report on Friday, August 14th. Finally, Zacks Investment Research cut Regenxbio from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $59.83.
Shares of RGNX stock opened at $29.79 on Thursday. Regenxbio has a 1-year low of $20.03 and a 1-year high of $54.97. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -8.16 and a beta of 0.91. The stock has a 50 day simple moving average of $30.94 and a 200-day simple moving average of $35.12.
Regenxbio (NASDAQ:RGNX) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.02). The company had revenue of $16.60 million during the quarter, compared to analysts’ expectations of $22.23 million. Regenxbio had a negative return on equity of 31.06% and a negative net margin of 222.24%. Regenxbio’s revenue was up 110.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. On average, research analysts forecast that Regenxbio will post -3.08 EPS for the current year.
In related news, CFO Vittal Vasista sold 14,950 shares of the stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $40.10, for a total value of $599,495.00. Following the completion of the transaction, the chief financial officer now directly owns 209,974 shares in the company, valued at $8,419,957.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 14.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Mutual of America Capital Management LLC lifted its position in Regenxbio by 27.3% in the first quarter. Mutual of America Capital Management LLC now owns 1,371 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 294 shares during the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of Regenxbio in the 1st quarter valued at approximately $48,000. Nisa Investment Advisors LLC lifted its holdings in shares of Regenxbio by 55.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,315 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 470 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Regenxbio during the 2nd quarter worth approximately $51,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in Regenxbio in the 2nd quarter valued at approximately $63,000. Hedge funds and other institutional investors own 77.45% of the company’s stock.
Regenxbio Company Profile
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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