REGENXBIO (NASDAQ:RGNX) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of REGENXBIO (NASDAQ:RGNXFree Report) from a sell rating to a hold rating in a report released on Thursday morning.

Several other equities analysts have also recently issued reports on RGNX. Chardan Capital restated a buy rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Thursday, March 7th. Robert W. Baird increased their target price on REGENXBIO from $34.00 to $39.00 and gave the stock an outperform rating in a research report on Wednesday, March 6th. Wedbush reaffirmed a neutral rating and issued a $21.00 target price on shares of REGENXBIO in a research report on Wednesday, February 28th. HC Wainwright reaffirmed a buy rating and issued a $36.00 target price on shares of REGENXBIO in a research report on Monday, March 11th. Finally, Raymond James reissued an outperform rating and set a $45.00 price target on shares of REGENXBIO in a report on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, REGENXBIO has an average rating of Moderate Buy and a consensus price target of $38.00.

View Our Latest Analysis on RGNX

REGENXBIO Price Performance

RGNX opened at $22.50 on Thursday. The firm has a 50 day moving average price of $17.66 and a 200 day moving average price of $17.55. REGENXBIO has a 1 year low of $11.83 and a 1 year high of $28.80.

REGENXBIO (NASDAQ:RGNXGet Free Report) last posted its earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.16). The business had revenue of $22.30 million for the quarter, compared to analyst estimates of $34.01 million. REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The firm’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same period last year, the company posted ($1.38) EPS. As a group, analysts forecast 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 the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $15.18, for a total value of $683,100.00. Following the completion of the sale, the chief executive officer now directly owns 408,035 shares in the company, valued at approximately $6,193,971.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Steve Pakola sold 17,237 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $17.39, for a total value of $299,751.43. Following the completion of the transaction, the insider now directly owns 107,192 shares in the company, valued at $1,864,068.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kenneth T. Mills sold 45,000 shares of the company’s 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 completion of the sale, the chief executive officer now owns 408,035 shares in the company, valued at $6,193,971.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,115 shares of company stock valued at $1,927,372. 12.70% of the stock is owned by corporate insiders.

Institutional Trading of REGENXBIO

A number of large investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky grew its holdings in shares of REGENXBIO by 5.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 12,215 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 660 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of REGENXBIO by 5.1% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,669 shares of the biotechnology company’s stock worth $273,000 after purchasing an additional 666 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of REGENXBIO by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 16,382 shares of the biotechnology company’s stock worth $327,000 after purchasing an additional 681 shares during the period. PNC Financial Services Group Inc. raised its position in shares of REGENXBIO by 73.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 746 shares during the period. Finally, Arizona State Retirement System boosted its position in REGENXBIO by 7.3% during the 3rd quarter. Arizona State Retirement System now owns 11,138 shares of the biotechnology company’s stock worth $183,000 after acquiring an additional 761 shares during the last quarter. 88.80% of the stock is currently owned by institutional investors.

About REGENXBIO

(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.

Recommended Stories

Analyst Recommendations for REGENXBIO (NASDAQ:RGNX)

Receive News & Ratings for REGENXBIO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for REGENXBIO and related companies with MarketBeat.com's FREE daily email newsletter.