REGENXBIO (NASDAQ:RGNX) Upgraded to Hold by StockNews.com

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

Several other analysts have also recently issued reports on the company. Barclays cut their price objective on REGENXBIO from $55.00 to $50.00 and set an overweight rating on the stock in a research note on Monday, August 5th. HC Wainwright restated a buy rating and set a $39.00 price objective on shares of REGENXBIO in a research note on Wednesday, September 4th. Finally, The Goldman Sachs Group began coverage on REGENXBIO in a research note on Friday, June 7th. They set a buy rating and a $38.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $37.91.

REGENXBIO Stock Performance

NASDAQ:RGNX opened at $11.69 on Friday. REGENXBIO has a one year low of $10.49 and a one year high of $28.80. The business’s 50-day simple moving average is $12.52 and its 200 day simple moving average is $14.94. The stock has a market cap of $575.80 million, a price-to-earnings ratio of -1.99 and a beta of 1.22.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($1.05) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.24. REGENXBIO had a negative return on equity of 68.21% and a negative net margin of 270.74%. The business had revenue of $22.30 million for the quarter, compared to analysts’ expectations of $22.97 million. During the same quarter in the previous year, the firm posted ($1.66) earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts predict that REGENXBIO will post -4.66 EPS for the current year.

Insider Transactions at REGENXBIO

In related news, CEO Curran Simpson sold 9,648 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.04, for a total value of $145,105.92. Following the sale, the chief executive officer now directly owns 170,137 shares in the company, valued at approximately $2,558,860.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Curran Simpson sold 9,648 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.04, for a total value of $145,105.92. Following the completion of the sale, the chief executive officer now owns 170,137 shares of the company’s stock, valued at $2,558,860.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $11.27, for a total transaction of $112,700.00. Following the transaction, the director now directly owns 11,286 shares in the company, valued at approximately $127,193.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,279 shares of company stock worth $875,634. Company insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors have recently added to or reduced their stakes in the company. Lion Point Capital LP grew its stake in shares of REGENXBIO by 11.5% in the 2nd quarter. Lion Point Capital LP now owns 36,250 shares of the biotechnology company’s stock worth $424,000 after purchasing an additional 3,750 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in REGENXBIO by 19.6% during the second quarter. The Manufacturers Life Insurance Company now owns 18,375 shares of the biotechnology company’s stock worth $215,000 after buying an additional 3,015 shares in the last quarter. Millennium Management LLC grew its position in REGENXBIO by 84.8% in the second quarter. Millennium Management LLC now owns 306,487 shares of the biotechnology company’s stock worth $3,586,000 after buying an additional 140,666 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of REGENXBIO in the second quarter valued at $238,000. Finally, Squarepoint Ops LLC lifted its position in shares of REGENXBIO by 630.9% during the 2nd quarter. Squarepoint Ops LLC now owns 146,259 shares of the biotechnology company’s stock valued at $1,711,000 after acquiring an additional 126,249 shares during the last quarter. 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.