Regenxbio (NASDAQ:RGNX) Raised to “Market Perform” at Leerink Swann

Leerink Swann upgraded shares of Regenxbio (NASDAQ:RGNX) from an underperform rating to a market perform rating in a report issued on Tuesday, The Fly reports. The analysts noted that the move was a valuation call.

Several other equities research analysts have also recently weighed in on RGNX. Morgan Stanley set a $84.00 price target on shares of Regenxbio and gave the company a buy rating in a research report on Monday, July 15th. ValuEngine raised shares of Regenxbio from a buy rating to a strong-buy rating in a research report on Thursday, August 1st. Raymond James initiated coverage on shares of Regenxbio in a research report on Thursday, June 13th. They set an outperform rating for the company. Chardan Capital reissued a buy rating and set a $150.00 price target (up previously from $145.00) on shares of Regenxbio in a research report on Tuesday, June 18th. Finally, TheStreet cut shares of Regenxbio from a c rating to a d+ rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $79.56.

Shares of RGNX opened at $33.93 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.58 and a quick ratio of 14.58. The firm has a fifty day simple moving average of $43.70 and a two-hundred day simple moving average of $49.09. Regenxbio has a twelve month low of $33.73 and a twelve month high of $83.45.

Regenxbio (NASDAQ:RGNX) last announced its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.46. The business had revenue of $7.88 million during the quarter, compared to analysts’ expectations of $5.45 million. Regenxbio had a negative net margin of 88.57% and a negative return on equity of 15.39%. The firm’s revenue for the quarter was down 80.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.30 EPS. On average, equities research analysts predict that Regenxbio will post -2.85 EPS for the current year.

In other Regenxbio news, SVP Curran Simpson sold 18,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $50.00, for a total value of $900,000.00. Following the completion of the transaction, the senior vice president now directly owns 57,500 shares in the company, valued at approximately $2,875,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $52.54, for a total transaction of $788,100.00. Following the completion of the transaction, the insider now owns 261,000 shares of the company’s stock, valued at $13,712,940. The disclosure for this sale can be found here. Insiders sold a total of 73,000 shares of company stock valued at $3,508,800 over the last 90 days. Company insiders own 13.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Korea Investment CORP bought a new position in shares of Regenxbio in the 2nd quarter worth about $20,675,000. Norges Bank bought a new position in shares of Regenxbio in the 4th quarter worth about $10,798,000. UBS Group AG increased its stake in shares of Regenxbio by 438.6% in the 2nd quarter. UBS Group AG now owns 263,094 shares of the biotechnology company’s stock worth $13,515,000 after acquiring an additional 214,244 shares in the last quarter. Hillhouse Capital Advisors LTD. bought a new position in shares of Regenxbio in the 2nd quarter worth about $10,582,000. Finally, Nuveen Asset Management LLC bought a new position in shares of Regenxbio in the 2nd quarter worth about $10,206,000. Institutional investors and hedge funds own 81.07% of the company’s stock.

About Regenxbio

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 or antibodies 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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Analyst Recommendations for Regenxbio (NASDAQ:RGNX)

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