REGENXBIO (NASDAQ:RGNX) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of REGENXBIO (NASDAQ:RGNX) from a hold rating to a sell rating in a report published on Tuesday.

A number of other equities analysts have also issued reports on the company. Chardan Capital reaffirmed a buy rating and set a $52.00 price target on shares of REGENXBIO in a research note on Thursday, March 7th. Robert W. Baird boosted their price target on shares of REGENXBIO from $34.00 to $39.00 and gave the stock an outperform rating in a research report on Wednesday, March 6th. HC Wainwright restated a buy rating and set a $36.00 price objective on shares of REGENXBIO in a research report on Monday, March 11th. SVB Leerink upgraded shares of REGENXBIO from a market perform rating to an outperform rating and set a $37.00 target price on the stock in a report on Wednesday, March 6th. Finally, Stifel Nicolaus restated a buy rating and set a $40.00 target price on shares of REGENXBIO in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, REGENXBIO has a consensus rating of Moderate Buy and a consensus price target of $38.45.

REGENXBIO Stock Performance

Shares of REGENXBIO stock opened at $16.96 on Tuesday. REGENXBIO has a 1 year low of $11.83 and a 1 year high of $28.80. The firm’s 50-day simple moving average is $19.57 and its 200-day simple moving average is $17.87. The firm has a market cap of $831.72 million, a PE ratio of -2.81 and a beta of 1.38.

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 the consensus estimate 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%. REGENXBIO’s revenue was down 28.8% compared to the same quarter last year. During the same quarter last year, the company earned ($1.38) EPS. On average, equities analysts predict that REGENXBIO will post -3.98 earnings per share for the current year.

Insider Activity

In related news, CEO Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total transaction of $251,400.00. Following the transaction, the chief executive officer now owns 408,035 shares of the company’s stock, valued at $6,838,666.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Steve Pakola sold 12,878 shares of REGENXBIO stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total value of $365,220.08. Following the transaction, the insider now owns 107,192 shares of the company’s stock, valued at $3,039,965.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at $6,838,666.60. The disclosure for this sale can be found here. Insiders sold a total of 57,878 shares of company stock worth $1,217,370 in the last three months. 13.13% of the stock is owned by insiders.

Hedge Funds Weigh In On REGENXBIO

Institutional investors have recently made changes to their positions in the business. Raymond James & Associates increased its position in REGENXBIO by 405.3% in the 3rd quarter. Raymond James & Associates now owns 100,620 shares of the biotechnology company’s stock worth $1,656,000 after buying an additional 80,706 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of REGENXBIO by 77.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 114,962 shares of the biotechnology company’s stock worth $1,892,000 after acquiring an additional 50,056 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in REGENXBIO by 47.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,540 shares of the biotechnology company’s stock worth $173,000 after acquiring an additional 3,379 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in REGENXBIO by 8.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 208,307 shares of the biotechnology company’s stock valued at $3,429,000 after purchasing an additional 15,794 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in REGENXBIO by 8.9% in the 3rd quarter. Panagora Asset Management Inc. now owns 217,179 shares of the biotechnology company’s stock valued at $3,575,000 after purchasing an additional 17,805 shares during the period. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Company Profile

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.