REGENXBIO (NASDAQ:RGNX) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of REGENXBIO (NASDAQ:RGNXFree Report) from a sell rating to a hold rating in a research report report published on Wednesday.

RGNX has been the subject of several other reports. SVB Leerink raised REGENXBIO from a market perform rating to an outperform rating and set a $37.00 price objective for the company in a report on Wednesday, March 6th. Wedbush reissued a neutral rating and set a $21.00 price objective on shares of REGENXBIO in a report on Wednesday, February 28th. Royal Bank of Canada raised REGENXBIO from a sector perform rating to an outperform rating and increased their price objective for the company from $20.00 to $35.00 in a report on Friday, March 8th. Robert W. Baird increased their price objective on REGENXBIO from $34.00 to $39.00 and gave the company an outperform rating in a report on Wednesday, March 6th. Finally, Leerink Partnrs raised REGENXBIO from a market perform rating to an outperform rating in a report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $38.00.

Check Out Our Latest Analysis on RGNX

REGENXBIO Price Performance

Shares of RGNX stock opened at $20.25 on Wednesday. The firm has a 50-day moving average of $18.90 and a 200-day moving average of $17.77. The company has a market cap of $899.71 million, a P/E ratio of -3.36 and a beta of 1.29. REGENXBIO has a one year low of $11.83 and a one year high of $28.80.

REGENXBIO (NASDAQ:RGNXGet Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $34.01 million. During the same period in the prior year, the firm posted ($1.38) EPS. The business’s revenue was down 28.8% on a year-over-year basis. As a group, research analysts expect that REGENXBIO will post -3.98 earnings per share for the current fiscal year.

Insider Activity at REGENXBIO

In related news, CEO Kenneth T. Mills sold 45,000 shares of REGENXBIO stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $15.18, for a total transaction of $683,100.00. Following the completion of the sale, the chief executive officer now owns 408,035 shares of the company’s stock, valued at $6,193,971.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, 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 transaction of $251,400.00. Following the completion of the sale, the chief executive officer now owns 408,035 shares of the company’s stock, valued at $6,838,666.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kenneth T. Mills sold 45,000 shares of REGENXBIO stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $15.18, for a total value of $683,100.00. Following the sale, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at approximately $6,193,971.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,878 shares of company stock valued at $1,627,620. Company insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Several large investors have recently added to or reduced their stakes in RGNX. Napatree Capital LLC purchased a new stake in REGENXBIO during the fourth quarter valued at about $720,000. PNC Financial Services Group Inc. raised its position in REGENXBIO by 73.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 746 shares in the last quarter. Vanguard Group Inc. raised its position in REGENXBIO by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,440,838 shares of the biotechnology company’s stock valued at $79,713,000 after purchasing an additional 64,265 shares in the last quarter. Wellington Management Group LLP purchased a new stake in REGENXBIO during the fourth quarter valued at about $692,000. Finally, Virtu Financial LLC purchased a new stake in REGENXBIO during the fourth quarter valued at about $377,000. Institutional investors 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.

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Analyst Recommendations for REGENXBIO (NASDAQ:RGNX)

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