REGENXBIO (NASDAQ:RGNX) Upgraded to “Hold” at StockNews.com

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

A number of other equities analysts have also weighed in on the company. HC Wainwright reiterated a buy rating and set a $36.00 price objective on shares of REGENXBIO in a research note on Monday, March 11th. Raymond James restated an outperform rating and issued a $45.00 price target on shares of REGENXBIO in a research note on Wednesday, February 21st. Leerink Partnrs upgraded REGENXBIO from a market perform rating to an outperform rating in a research note on Wednesday, March 6th. Robert W. Baird lifted their price target on REGENXBIO from $34.00 to $39.00 and gave the company an outperform rating in a research note on Wednesday, March 6th. Finally, Wedbush restated a neutral rating and issued a $21.00 price target on shares of REGENXBIO in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, REGENXBIO currently has an average rating of Moderate Buy and an average price target of $38.00.

REGENXBIO Trading Up 0.9 %

NASDAQ RGNX opened at $19.02 on Thursday. The stock has a 50-day simple moving average of $19.66 and a two-hundred day simple moving average of $17.83. REGENXBIO has a fifty-two week low of $11.83 and a fifty-two week high of $28.80.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.16). The company had revenue of $22.30 million for the quarter, compared to analysts’ expectations of $34.01 million. REGENXBIO had a negative net margin of 291.99% and a negative return on equity of 68.18%. The business’s quarterly revenue was down 28.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.38) EPS. On average, research analysts anticipate that REGENXBIO will post -3.98 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Kenneth T. Mills sold 45,000 shares of REGENXBIO stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $15.18, for a total value of $683,100.00. Following 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 legal filing with the SEC, which is available at this link. In other news, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total transaction of $251,400.00. Following the transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at approximately $6,838,666.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction, 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 three months, insiders have sold 87,878 shares of company stock worth $1,627,620. Insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky lifted its holdings in REGENXBIO by 5.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 12,215 shares of the biotechnology company’s stock valued at $244,000 after acquiring an additional 660 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in REGENXBIO by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 16,382 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 681 shares during the period. PNC Financial Services Group Inc. raised its position in REGENXBIO by 73.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 746 shares during the period. Arizona State Retirement System raised its position in REGENXBIO by 7.3% in the third quarter. Arizona State Retirement System now owns 11,138 shares of the biotechnology company’s stock valued at $183,000 after purchasing an additional 761 shares during the period. Finally, Prudential Financial Inc. raised its position in REGENXBIO by 1.1% in the first quarter. Prudential Financial Inc. now owns 71,412 shares of the biotechnology company’s stock valued at $1,350,000 after purchasing an additional 800 shares during the period. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.