Zacks Research Downgrades REGENXBIO (NASDAQ:RGNX) to Strong Sell

REGENXBIO (NASDAQ:RGNX) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the company. Robert W. Baird boosted their price objective on REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Barclays reduced their target price on REGENXBIO from $37.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. Leerink Partners lifted their target price on REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of REGENXBIO in a report on Wednesday, July 1st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of REGENXBIO in a report on Monday, June 8th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, REGENXBIO currently has an average rating of “Moderate Buy” and an average price target of $23.82.

REGENXBIO Price Performance

NASDAQ RGNX opened at $12.27 on Tuesday. The company has a market capitalization of $634.36 million, a price-to-earnings ratio of -2.19 and a beta of 0.90. REGENXBIO has a 12 month low of $5.45 and a 12 month high of $16.19. The company’s fifty day moving average price is $9.09 and its two-hundred day moving average price is $9.89.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.36). REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%.The company had revenue of $6.39 million during the quarter, compared to the consensus estimate of $25.84 million. As a group, analysts anticipate that REGENXBIO will post -3.69 EPS for the current year.

Insider Buying and Selling at REGENXBIO

In related news, insider Steve Pakola sold 2,161 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $13.64, for a total value of $29,476.04. Following the sale, the insider owned 213,009 shares of the company’s stock, valued at $2,905,442.76. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 73,803 shares of company stock valued at $886,937. 14.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RGNX. AQR Capital Management LLC increased its stake in shares of REGENXBIO by 2,247.7% in the first quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock valued at $4,437,000 after purchasing an additional 594,161 shares during the period. Jane Street Group LLC boosted its position in shares of REGENXBIO by 151.1% during the first quarter. Jane Street Group LLC now owns 414,067 shares of the biotechnology company’s stock worth $2,961,000 after buying an additional 249,156 shares during the period. Franklin Resources Inc. acquired a new position in shares of REGENXBIO during the second quarter worth approximately $239,000. American Century Companies Inc. grew its holdings in REGENXBIO by 8.4% in the 2nd quarter. American Century Companies Inc. now owns 110,066 shares of the biotechnology company’s stock worth $904,000 after buying an additional 8,487 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in REGENXBIO in the 2nd quarter worth approximately $87,000. Institutional investors own 88.08% of the company’s stock.

REGENXBIO Company Profile

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO’s pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.