BidaskClub Lowers Regenxbio (RGNX) to Buy

BidaskClub downgraded shares of Regenxbio (NASDAQ:RGNX) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday morning.

A number of other analysts also recently weighed in on RGNX. Bank of America upped their price target on shares of Regenxbio from $29.00 to $33.00 and gave the stock a buy rating in a report on Thursday, September 21st. Raymond James Financial initiated coverage on shares of Regenxbio in a research note on Thursday, October 12th. They issued an outperform rating and a $39.00 price objective for the company. Zacks Investment Research raised shares of Regenxbio from a hold rating to a strong-buy rating and set a $38.00 price objective for the company in a research note on Wednesday, October 18th. Chardan Capital increased their price objective on shares of Regenxbio from $75.00 to $85.00 and gave the company a buy rating in a research note on Thursday, November 9th. Finally, Morgan Stanley reissued an overweight rating and issued a $34.00 price objective on shares of Regenxbio in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $42.43.

Shares of Regenxbio (NASDAQ RGNX) traded up $1.65 during trading on Tuesday, hitting $28.00. 421,055 shares of the stock were exchanged, compared to its average volume of 789,971. Regenxbio has a 12 month low of $16.30 and a 12 month high of $36.45. The company has a market cap of $826.91 and a P/E ratio of -10.33.

Regenxbio (NASDAQ:RGNX) last issued its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.67) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.71) by $0.04. Regenxbio had a negative net margin of 764.06% and a negative return on equity of 39.33%. The company had revenue of $1.34 million during the quarter. equities research analysts forecast that Regenxbio will post -2.71 EPS for the current year.

In other news, SVP Curran Simpson sold 30,000 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $33.03, for a total transaction of $990,900.00. Following the completion of the sale, the senior vice president now directly owns 69,500 shares in the company, valued at $2,295,585. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Kenneth T. Mills sold 10,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $32.62, for a total transaction of $326,200.00. Following the sale, the insider now owns 98,730 shares of the company’s stock, valued at $3,220,572.60. The disclosure for this sale can be found here. Insiders have sold 94,000 shares of company stock valued at $2,947,446 in the last ninety days. Insiders own 17.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN grew its holdings in Regenxbio by 1.1% in the second quarter. Wells Fargo & Company MN now owns 16,209 shares of the biotechnology company’s stock worth $320,000 after purchasing an additional 175 shares during the period. People s United Financial Inc. grew its holdings in Regenxbio by 3.4% in the second quarter. People s United Financial Inc. now owns 17,150 shares of the biotechnology company’s stock worth $339,000 after purchasing an additional 560 shares during the period. Asymmetry Capital Management L.P. grew its holdings in Regenxbio by 12.2% in the second quarter. Asymmetry Capital Management L.P. now owns 13,906 shares of the biotechnology company’s stock worth $275,000 after purchasing an additional 1,508 shares during the period. ProShare Advisors LLC grew its holdings in Regenxbio by 10.9% in the second quarter. ProShare Advisors LLC now owns 18,252 shares of the biotechnology company’s stock worth $360,000 after purchasing an additional 1,790 shares during the period. Finally, Legal & General Group Plc grew its holdings in Regenxbio by 41.4% in the second quarter. Legal & General Group Plc now owns 6,870 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 2,011 shares during the period. Institutional investors own 68.73% of the company’s stock.

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About Regenxbio

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.

Analyst Recommendations for Regenxbio (NASDAQ:RGNX)

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