REGENXBIO (NASDAQ:RGNX) Upgraded at Wall Street Zen

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

Several other research analysts have also weighed in on RGNX. HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of REGENXBIO in a research report on Wednesday, July 1st. Robert W. Baird lifted their target price on REGENXBIO from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Bank of America decreased their price target on REGENXBIO from $25.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Leerink Partners increased their price target on REGENXBIO from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $18.00 price target on shares of REGENXBIO in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.73.

REGENXBIO Price Performance

NASDAQ:RGNX opened at $10.42 on Friday. The firm has a market capitalization of $538.71 million, a price-to-earnings ratio of -2.75 and a beta of 0.94. The company’s 50-day moving average is $10.08 and its two-hundred day moving average is $9.37. REGENXBIO has a 1-year low of $5.45 and a 1-year high of $16.19.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.35. The business had revenue of $108.02 million during the quarter, compared to analysts’ expectations of $97.63 million. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. As a group, equities analysts anticipate that REGENXBIO will post -3.96 earnings per share for the current fiscal year.

Insider Buying and Selling at REGENXBIO

In related news, insider Steve Pakola sold 36,725 shares of REGENXBIO stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $12.86, for a total value of $472,283.50. Following the completion of the sale, the insider owned 213,009 shares in the company, valued at approximately $2,739,295.74. This trade represents a 14.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 58,494 shares of company stock worth $718,232. Company insiders own 14.22% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RGNX. BlackRock Inc. acquired a new stake in shares of REGENXBIO in the second quarter valued at $76,641,000. AQR Capital Management LLC raised its holdings in shares of REGENXBIO by 2,247.7% in the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock valued at $4,437,000 after buying an additional 594,161 shares during the period. State Street Corp lifted its stake in REGENXBIO by 15.2% during the 4th quarter. State Street Corp now owns 2,286,736 shares of the biotechnology company’s stock worth $32,929,000 after acquiring an additional 301,858 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in REGENXBIO during the 1st quarter worth about $2,305,000. Finally, GSK plc purchased a new position in REGENXBIO during the 4th quarter valued at about $3,909,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

About REGENXBIO

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO’s pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.