Zacks Investment Research upgraded shares of REGENXBIO Inc. (NASDAQ:RGNX) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday, October 18th. The brokerage currently has $38.00 price objective on the biotechnology company’s stock.
According to Zacks, “REGENXBIO Inc. is a biotechnology company. The Company focuses on the development, commercialization and licensing of recombinant adeno-associated virus gene therapy. Its products candidates include RGX-501, for the treatment of homozygous familial hypercholesterolemia which uses the AAV8 vector to deliver the human low-density lipoprotein receptor gene to liver cells; RGX-111, for the treatment of Mucopolysaccharidosis Type I which uses the AAV9 vector to deliver the human a-l-iduronidase gene to the central nervous system; RGX-121, for the treatment of Mucopolysaccharidosis Type II; RGX-314, for the treatment of wet age-related macular degeneration and RGX-321, for the treatment of X-linked retinitis pigmentosa. REGENXBIO Inc. is headquartered in Rockville, Maryland. “
A number of other analysts have also weighed in on the stock. Raymond James Financial, Inc. assumed coverage on shares of REGENXBIO in a research note on Thursday, October 12th. They issued an outperform rating and a $39.00 price target on the stock. Bank of America Corporation reissued a buy rating and issued a $38.00 price objective (up from $33.00) on shares of REGENXBIO in a report on Monday, October 9th. Chardan Capital reissued a buy rating and issued a $75.00 price objective (up from $55.00) on shares of REGENXBIO in a report on Tuesday, September 5th. Evercore ISI began coverage on REGENXBIO in a report on Wednesday, August 16th. They issued an outperform rating and a $25.00 price objective for the company. Finally, BidaskClub raised REGENXBIO from a hold rating to a buy rating in a report on Saturday, August 12th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $40.00.
REGENXBIO (NASDAQ:RGNX) traded down $0.85 during midday trading on Wednesday, reaching $27.95. 279,108 shares of the company’s stock were exchanged, compared to its average volume of 423,916. REGENXBIO has a 52 week low of $16.00 and a 52 week high of $36.10.
REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $0.34. REGENXBIO had a negative net margin of 839.87% and a negative return on equity of 38.74%. The company had revenue of $6.56 million for the quarter. equities research analysts forecast that REGENXBIO will post -2.74 EPS for the current fiscal year.
In other REGENXBIO news, Director Donald J. Hayden, Jr. sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $34.95, for a total transaction of $699,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth T. Mills sold 10,000 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $32.62, for a total transaction of $326,200.00. Following the transaction, the insider now directly owns 98,730 shares in the company, valued at approximately $3,220,572.60. The disclosure for this sale can be found here. In the last three months, insiders sold 210,040 shares of company stock valued at $5,874,639. 17.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Redmile Group LLC lifted its position in REGENXBIO by 35.4% in the 2nd quarter. Redmile Group LLC now owns 1,718,671 shares of the biotechnology company’s stock valued at $33,944,000 after acquiring an additional 449,540 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of REGENXBIO by 4.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,226,835 shares of the biotechnology company’s stock worth $24,230,000 after buying an additional 51,041 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of REGENXBIO by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,082,461 shares of the biotechnology company’s stock worth $21,379,000 after buying an additional 100,944 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of REGENXBIO by 65.4% during the 2nd quarter. Citadel Advisors LLC now owns 926,176 shares of the biotechnology company’s stock worth $18,292,000 after buying an additional 366,289 shares in the last quarter. Finally, State Street Corp lifted its position in shares of REGENXBIO by 178.1% during the 2nd quarter. State Street Corp now owns 880,844 shares of the biotechnology company’s stock worth $17,399,000 after buying an additional 564,129 shares in the last quarter. 73.42% of the stock is currently owned by institutional investors and hedge funds.
REGENXBIO Company Profile
REGENXBIO Inc is a clinical-stage biotechnology company. The Company’s gene therapy product candidates are designed to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. The Company develops products candidates across the therapeutic areas of metabolic, neurodegenerative and retinal diseases.
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