Zacks Investment Research cut shares of Regenxbio (NASDAQ:RGNX) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.
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. “
RGNX has been the topic of several other research reports. BidaskClub upgraded Regenxbio from a hold rating to a buy rating in a research report on Thursday, December 7th. ValuEngine downgraded Regenxbio from a hold rating to a sell rating in a research report on Tuesday, November 14th. Mizuho initiated coverage on Regenxbio in a research report on Monday, February 12th. They set a neutral rating and a $28.00 target price on the stock. Barclays initiated coverage on shares of Regenxbio in a report on Wednesday, November 22nd. They issued an overweight rating and a $38.00 price target on the stock. Finally, TheStreet cut shares of Regenxbio from a c rating to a d+ rating in a report on Tuesday, November 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $40.00.
Regenxbio (NASDAQ:RGNX) last posted its earnings results on Tuesday, March 6th. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.20. The firm had revenue of $2.04 million for the quarter. Regenxbio had a negative return on equity of 36.48% and a negative net margin of 704.02%. analysts forecast that Regenxbio will post -2.54 earnings per share for the current fiscal year.
In other news, insider Kenneth T. Mills sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $26.56, for a total value of $265,600.00. Following the transaction, the insider now owns 238,530 shares of the company’s stock, valued at $6,335,356.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Vittal Vasista sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the completion of the transaction, the chief financial officer now directly owns 87,277 shares in the company, valued at approximately $2,618,310. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,000 shares of company stock worth $2,148,100. Insiders own 17.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new position in shares of Regenxbio in the fourth quarter worth $302,000. State Board of Administration of Florida Retirement System bought a new position in Regenxbio in the third quarter valued at $328,000. Nomura Asset Management Co. Ltd. bought a new position in Regenxbio in the fourth quarter valued at $333,000. Virtus Fund Advisers LLC bought a new position in Regenxbio in the fourth quarter valued at $407,000. Finally, Voya Investment Management LLC bought a new position in Regenxbio in the second quarter valued at $249,000. 69.22% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This piece was first posted by Markets Daily and is owned by of Markets Daily. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://www.themarketsdaily.com/2018/03/13/regenxbio-rgnx-downgraded-by-zacks-investment-research-to-hold.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Regenxbio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regenxbio and related companies with MarketBeat.com's FREE daily email newsletter.