Zacks Investment Research Downgrades REGENXBIO (RGNX) to Hold

REGENXBIO (NASDAQ:RGNX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, November 17th.

According to Zacks, “REGENXBIO Inc. is a biotechnology company. The Company focuses on the development, commercialization and licensing of recombinant adeno-associated virus gene therapy. Its products candidates include RGX-501, for the treatment of homozygous familial hypercholesterolemia which uses the AAV8 vector to deliver the human low-density lipoprotein receptor gene to liver cells; RGX-111, for the treatment of Mucopolysaccharidosis Type I which uses the AAV9 vector to deliver the human a-l-iduronidase gene to the central nervous system; RGX-121, for the treatment of Mucopolysaccharidosis Type II; RGX-314, for the treatment of wet age-related macular degeneration and RGX-321, for the treatment of X-linked retinitis pigmentosa. REGENXBIO Inc. is headquartered in Rockville, Maryland. “

Several other equities research analysts also recently weighed in on the stock. ValuEngine downgraded shares of REGENXBIO from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $34.00 price objective on shares of REGENXBIO in a report on Thursday, November 9th. Chardan Capital upped their price objective on shares of REGENXBIO from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Raymond James Financial began coverage on shares of REGENXBIO in a report on Thursday, October 12th. They issued an “outperform” rating and a $39.00 price objective for the company. Finally, Bank of America reaffirmed a “buy” rating and issued a $38.00 price objective (up previously from $33.00) on shares of REGENXBIO in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. REGENXBIO presently has a consensus rating of “Buy” and a consensus target price of $42.43.

Shares of REGENXBIO (RGNX) traded up $1.25 on Friday, hitting $29.45. 198,943 shares of the stock traded hands, compared to its average volume of 277,735. REGENXBIO has a 52 week low of $16.30 and a 52 week high of $36.10.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.04. The business had revenue of $1.34 million during the quarter. REGENXBIO had a negative net margin of 764.06% and a negative return on equity of 39.33%. sell-side analysts expect that REGENXBIO will post -2.71 EPS for the current year.

In other REGENXBIO news, insider Stephen Yoo sold 27,342 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $25.00, for a total value of $683,550.00. Following the completion of the sale, the insider now directly owns 27,342 shares of the company’s stock, valued at approximately $683,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Curran Simpson sold 2,000 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $29.31, for a total value of $58,620.00. Following the sale, the senior vice president now owns 41,500 shares in the company, valued at approximately $1,216,365. The disclosure for this sale can be found here. Insiders sold a total of 149,452 shares of company stock valued at $4,441,270 over the last three months. 17.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pura Vida Investments LLC raised its holdings in REGENXBIO by 17.7% during the 3rd quarter. Pura Vida Investments LLC now owns 33,920 shares of the biotechnology company’s stock worth $1,118,000 after buying an additional 5,100 shares during the period. Perceptive Advisors LLC raised its holdings in REGENXBIO by 5.1% during the 3rd quarter. Perceptive Advisors LLC now owns 1,441,186 shares of the biotechnology company’s stock worth $47,487,000 after buying an additional 70,000 shares during the period. Jane Street Group LLC acquired a new stake in REGENXBIO during the 3rd quarter worth about $476,000. RTW Investments LP raised its holdings in REGENXBIO by 20.9% during the 3rd quarter. RTW Investments LP now owns 1,539,005 shares of the biotechnology company’s stock worth $50,710,000 after buying an additional 266,235 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in REGENXBIO by 25.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 122,509 shares of the biotechnology company’s stock worth $4,037,000 after buying an additional 24,814 shares during the period. Hedge funds and other institutional investors own 68.73% of the company’s stock.

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REGENXBIO Company Profile

REGENXBIO Inc is a clinical-stage biotechnology company. The Company’s gene therapy product candidates are designed to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. The Company develops products candidates across the therapeutic areas of metabolic, neurodegenerative and retinal diseases.

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