REGENXBIO (NASDAQ:RGNX) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of REGENXBIO (NASDAQ:RGNX) from a sell rating to a hold rating in a report issued on Saturday morning.

Other equities analysts also recently issued reports about the stock. Chardan Capital reaffirmed a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Monday, September 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of REGENXBIO in a research note on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and set a $34.00 target price on shares of REGENXBIO in a report on Tuesday, October 7th. Barclays cut their price target on REGENXBIO from $50.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Finally, Royal Bank Of Canada lifted their price objective on REGENXBIO from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.63.

REGENXBIO Stock Up 0.4%

Shares of NASDAQ RGNX traded up $0.04 during trading hours on Friday, reaching $11.21. 623,186 shares of the stock traded hands, compared to its average volume of 571,538. The company’s 50-day simple moving average is $10.78 and its two-hundred day simple moving average is $9.50. The company has a market capitalization of $566.26 million, a P/E ratio of -3.23 and a beta of 1.23. REGENXBIO has a 52-week low of $5.03 and a 52-week high of $13.93.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($1.20) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.18. REGENXBIO had a negative net margin of 110.29% and a negative return on equity of 78.29%. The firm had revenue of $29.73 million for the quarter, compared to the consensus estimate of $24.41 million. As a group, sell-side analysts forecast that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Insider Transactions at REGENXBIO

In other REGENXBIO news, CEO Curran Simpson sold 20,811 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $12.62, for a total transaction of $262,634.82. Following the sale, the chief executive officer owned 216,162 shares in the company, valued at approximately $2,727,964.44. This trade represents a 8.78% 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 ninety days, insiders have sold 36,169 shares of company stock valued at $416,598. Corporate insiders own 12.79% of the company’s stock.

Institutional Trading of REGENXBIO

A number of large investors have recently made changes to their positions in RGNX. Acadian Asset Management LLC purchased a new position in REGENXBIO during the 1st quarter valued at about $1,123,000. Invesco Ltd. boosted its stake in shares of REGENXBIO by 52.4% during the first quarter. Invesco Ltd. now owns 79,469 shares of the biotechnology company’s stock valued at $568,000 after purchasing an additional 27,341 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in REGENXBIO during the second quarter valued at approximately $1,453,000. Cerity Partners LLC purchased a new position in REGENXBIO during the first quarter valued at approximately $228,000. Finally, Charles Schwab Investment Management Inc. raised its stake in REGENXBIO by 4.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 366,549 shares of the biotechnology company’s stock worth $2,621,000 after buying an additional 16,819 shares in the last quarter. 88.08% of the stock is currently owned by 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.