REGENXBIO (NASDAQ:RGNX) Stock Rating Upgraded by StockNews.com

REGENXBIO (NASDAQ:RGNXGet Free Report) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other brokerages have also recently weighed in on RGNX. Royal Bank of Canada raised REGENXBIO from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $20.00 to $35.00 in a research report on Friday, March 8th. Robert W. Baird increased their price target on REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Barclays lifted their price target on shares of REGENXBIO from $45.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Wedbush reaffirmed a “neutral” rating and set a $21.00 price objective on shares of REGENXBIO in a report on Wednesday, February 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of REGENXBIO in a research note on Monday, March 11th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.45.

Check Out Our Latest Analysis on REGENXBIO

REGENXBIO Stock Performance

NASDAQ:RGNX opened at $18.09 on Thursday. The company has a market capitalization of $887.13 million, a P/E ratio of -3.00 and a beta of 1.29. The stock’s 50 day moving average price is $19.78 and its 200 day moving average price is $17.84. REGENXBIO has a 52 week low of $11.83 and a 52 week high of $28.80.

REGENXBIO (NASDAQ:RGNXGet Free Report) last announced its quarterly 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 business had revenue of $22.30 million for the quarter, compared to analyst estimates of $34.01 million. During the same quarter last year, the company earned ($1.38) EPS. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. As a group, sell-side analysts forecast that REGENXBIO will post -3.98 earnings per share for the current fiscal year.

Insider Buying and Selling at REGENXBIO

In other news, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were 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 of the company’s stock, valued at $6,838,666.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Steve Pakola sold 12,878 shares of the company’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 transaction, the insider now directly owns 107,192 shares in the company, valued at $3,039,965.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kenneth T. Mills sold 15,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at $6,838,666.60. The disclosure for this sale can be found here. Insiders sold a total of 87,878 shares of company stock valued at $1,627,620 in the last ninety days. Company insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

A number of hedge funds have recently made changes to their positions in RGNX. BlackRock Inc. lifted its stake in REGENXBIO by 2.8% during the second quarter. BlackRock Inc. now owns 8,268,972 shares of the biotechnology company’s stock worth $165,297,000 after purchasing an additional 228,182 shares during the period. Vanguard Group Inc. lifted its position in shares of REGENXBIO by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,440,838 shares of the biotechnology company’s stock worth $79,713,000 after buying an additional 64,265 shares during the period. JPMorgan Chase & Co. lifted its position in shares of REGENXBIO by 5.6% during the 1st quarter. JPMorgan Chase & Co. now owns 4,005,623 shares of the biotechnology company’s stock worth $75,746,000 after buying an additional 211,146 shares during the period. Finally, State Street Corp boosted its stake in REGENXBIO by 5.6% in the 2nd quarter. State Street Corp now owns 2,801,494 shares of the biotechnology company’s stock valued at $69,197,000 after buying an additional 147,728 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for REGENXBIO (NASDAQ:RGNX)

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