REGENXBIO (NASDAQ:RGNX) Downgraded to “Sell” at StockNews.com

StockNews.com downgraded shares of REGENXBIO (NASDAQ:RGNX) from a hold rating to a sell rating in a report released on Thursday.

A number of other research firms have also commented on RGNX. The Goldman Sachs Group assumed coverage on REGENXBIO in a research note on Friday, June 7th. They issued a buy rating and a $38.00 price objective on the stock. Barclays dropped their price target on shares of REGENXBIO from $55.00 to $50.00 and set an overweight rating on the stock in a research report on Monday, August 5th. Finally, HC Wainwright reiterated a buy rating and set a $39.00 price objective on shares of REGENXBIO in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $37.91.

REGENXBIO Price Performance

NASDAQ:RGNX opened at $12.18 on Thursday. REGENXBIO has a one year low of $10.49 and a one year high of $28.80. The company has a market cap of $599.94 million, a PE ratio of -2.07 and a beta of 1.22. The firm’s 50 day simple moving average is $12.38 and its 200 day simple moving average is $15.37.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($1.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.24. The business had revenue of $22.30 million during the quarter, compared to the consensus estimate of $22.97 million. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. REGENXBIO’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted ($1.66) earnings per share. Equities research analysts expect that REGENXBIO will post -4.66 EPS for the current year.

Insider Activity

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $11.27, for a total value of $112,700.00. Following the transaction, the director now owns 11,286 shares in the company, valued at $127,193.22. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $11.27, for a total transaction of $112,700.00. Following the transaction, the director now owns 11,286 shares in the company, valued at $127,193.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kenneth T. Mills sold 2,210 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $13.77, for a total transaction of $30,431.70. Following the sale, the director now directly owns 408,035 shares of the company’s stock, valued at $5,618,641.95. The disclosure for this sale can be found here. Insiders sold a total of 65,279 shares of company stock worth $875,634 in the last three months. Company insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in shares of REGENXBIO by 73.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after buying an additional 746 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in REGENXBIO during the first quarter worth $56,000. Headlands Technologies LLC lifted its holdings in REGENXBIO by 276.8% during the first quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock worth $81,000 after acquiring an additional 2,812 shares during the period. Diversified Trust Co purchased a new position in REGENXBIO in the second quarter worth $121,000. Finally, Arizona State Retirement System grew its stake in REGENXBIO by 20.6% in the 2nd quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock valued at $137,000 after purchasing an additional 1,997 shares during the period. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.