Regenxbio (NASDAQ:RGNX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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. “
A number of other research firms have also recently issued reports on RGNX. TheStreet upgraded Regenxbio from a “d+” rating to a “c” rating in a research report on Monday, September 17th. ValuEngine cut Regenxbio from a “buy” rating to a “hold” rating in a research report on Wednesday, December 5th. Leerink Swann initiated coverage on Regenxbio in a research report on Tuesday, November 27th. They set an “underperform” rating and a $42.00 price objective on the stock. BidaskClub cut Regenxbio from a “hold” rating to a “sell” rating in a research report on Saturday, December 8th. Finally, Barclays boosted their price objective on Regenxbio from $83.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $77.56.
Shares of NASDAQ RGNX opened at $46.05 on Wednesday. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 22.45 and a beta of 0.44. Regenxbio has a 12 month low of $23.25 and a 12 month high of $85.10.
Regenxbio (NASDAQ:RGNX) last issued its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.56) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.86) by $0.30. The company had revenue of $5.31 million for the quarter. Regenxbio had a return on equity of 22.52% and a net margin of 44.30%. On average, equities analysts anticipate that Regenxbio will post 2.23 earnings per share for the current year.
In other Regenxbio news, SVP Patrick J. Christmas sold 5,000 shares of the company’s stock in a transaction on Thursday, October 18th. The stock was sold at an average price of $61.78, for a total value of $308,900.00. Following the sale, the senior vice president now directly owns 22,669 shares in the company, valued at $1,400,490.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Curran Simpson sold 62,309 shares of the company’s stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $60.85, for a total value of $3,791,502.65. Following the completion of the sale, the senior vice president now owns 86,017 shares in the company, valued at $5,234,134.45. The disclosure for this sale can be found here. Insiders sold 441,444 shares of company stock worth $27,789,167 over the last quarter. Company insiders own 16.90% of the company’s stock.
A number of large investors have recently made changes to their positions in RGNX. Meadow Creek Investment Management LLC acquired a new position in Regenxbio in the second quarter worth $141,000. Riverhead Capital Management LLC boosted its stake in Regenxbio by 137.5% in the third quarter. Riverhead Capital Management LLC now owns 1,900 shares of the biotechnology company’s stock worth $143,000 after purchasing an additional 1,100 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Regenxbio in the second quarter worth $157,000. Glen Harbor Capital Management LLC acquired a new position in Regenxbio in the second quarter worth $171,000. Finally, SG Americas Securities LLC acquired a new position in Regenxbio in the second quarter worth $179,000. Hedge funds and other institutional investors own 78.87% of the company’s stock.
Regenxbio Company Profile
REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.
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