Zacks Investment Research cut shares of REGENXBIO Inc. (NASDAQ:RGNX) from a buy rating to a hold rating in a research note released on Friday.
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. “
Other research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of REGENXBIO from a hold rating to a buy rating in a research report on Saturday, August 12th. Evercore ISI began coverage on shares of REGENXBIO in a research report on Wednesday, August 16th. They set an outperform rating and a $25.00 price target on the stock. ValuEngine downgraded shares of REGENXBIO from a hold rating to a sell rating in a research report on Tuesday. Chardan Capital upped their price target on shares of REGENXBIO from $75.00 to $85.00 and gave the stock a buy rating in a research report on Thursday, November 9th. Finally, Bank of America Corporation upped their price target on shares of REGENXBIO from $29.00 to $33.00 and gave the stock a buy rating in a research report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. REGENXBIO presently has an average rating of Buy and a consensus price target of $43.17.
Shares of REGENXBIO (NASDAQ RGNX) traded down $0.55 during midday trading on Friday, reaching $27.55. 133,298 shares of the company traded hands, compared to its average volume of 356,983. REGENXBIO has a 1-year low of $16.30 and a 1-year high of $36.10.
REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.67) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.71) by $0.04. The business had revenue of $1.34 million for the quarter. REGENXBIO had a negative net margin of 764.06% and a negative return on equity of 39.33%. analysts forecast that REGENXBIO will post -2.63 earnings per share for the current year.
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In other REGENXBIO news, CFO Vittal Vasista sold 5,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $27.39, for a total transaction of $136,950.00. Following the completion of the sale, the chief financial officer now directly owns 99,594 shares of the company’s stock, valued at approximately $2,727,879.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald J. Hayden, Jr. sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $24.95, for a total value of $499,000.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $499,000. The disclosure for this sale can be found here. Insiders have sold a total of 207,000 shares of company stock valued at $5,810,525 over the last three months. Company insiders own 17.00% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. State Street Corp increased its stake in shares of REGENXBIO by 178.1% in the 2nd quarter. State Street Corp now owns 880,844 shares of the biotechnology company’s stock valued at $17,399,000 after acquiring an additional 564,129 shares during the last quarter. GMT Capital Corp increased its stake in shares of REGENXBIO by 1,086.2% in the 2nd quarter. GMT Capital Corp now owns 609,700 shares of the biotechnology company’s stock valued at $12,346,000 after acquiring an additional 558,300 shares during the last quarter. Redmile Group LLC increased its stake in shares of REGENXBIO by 35.4% in the 2nd quarter. Redmile Group LLC now owns 1,718,671 shares of the biotechnology company’s stock valued at $33,944,000 after acquiring an additional 449,540 shares during the last quarter. Citadel Advisors LLC increased its stake in shares of REGENXBIO by 65.4% in the 2nd quarter. Citadel Advisors LLC now owns 926,176 shares of the biotechnology company’s stock valued at $18,292,000 after acquiring an additional 366,289 shares during the last quarter. Finally, RTW Investments LP increased its stake in shares of REGENXBIO by 20.9% in the 3rd quarter. RTW Investments LP now owns 1,539,005 shares of the biotechnology company’s stock valued at $50,710,000 after acquiring an additional 266,235 shares during the last quarter. 73.13% of the stock is owned by hedge funds and other institutional investors.
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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