StockNews.com Lowers REGENXBIO (NASDAQ:RGNX) to Sell

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

RGNX has been the topic of a number of other reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $40.00 target price on shares of REGENXBIO in a research report on Friday, April 12th. Barclays raised their price objective on shares of REGENXBIO from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. 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 research report on Friday, March 8th. HC Wainwright reissued a “buy” rating and issued a $36.00 price objective on shares of REGENXBIO in a report on Monday, March 11th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.45.

REGENXBIO Stock Up 0.5 %

Shares of NASDAQ RGNX traded up $0.09 during midday trading on Tuesday, hitting $16.96. The stock had a trading volume of 402,096 shares, compared to its average volume of 685,092. REGENXBIO has a 1-year low of $11.83 and a 1-year high of $28.80. The company has a market capitalization of $831.72 million, a price-to-earnings ratio of -2.81 and a beta of 1.38. The company has a fifty day moving average price of $19.57 and a 200 day moving average price of $17.87.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($1.43) earnings per share (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 business had revenue of $22.30 million for the quarter, compared to analysts’ expectations of $34.01 million. During the same quarter in the prior year, the firm earned ($1.38) earnings per share. REGENXBIO’s quarterly revenue was down 28.8% compared to the same quarter last year. On average, research analysts forecast that REGENXBIO will post -3.98 EPS for the current year.

Insider Buying and Selling at REGENXBIO

In other REGENXBIO news, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total transaction of $251,400.00. Following the completion of the transaction, the chief executive officer now owns 408,035 shares in the company, valued at approximately $6,838,666.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total transaction of $251,400.00. Following the transaction, the chief executive officer now owns 408,035 shares in the company, valued at $6,838,666.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steve Pakola sold 12,878 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were 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 owns 107,192 shares of the company’s stock, valued at approximately $3,039,965.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,878 shares of company stock worth $1,217,370. 13.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of REGENXBIO by 0.8% during the 3rd 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 raised its position in shares of REGENXBIO by 27.0% during the third 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 period. Dimensional Fund Advisors LP lifted its holdings in shares of REGENXBIO by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,226,957 shares of the biotechnology company’s stock valued at $22,025,000 after purchasing an additional 34,385 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of 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 purchasing an additional 1,493 shares during the period. Finally, Perceptive Advisors LLC purchased a new position in REGENXBIO in the 4th quarter worth about $6,146,000. Institutional investors and hedge funds 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.