REGENXBIO (NASDAQ:RGNX) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of REGENXBIO (NASDAQ:RGNX) from a hold rating to a sell rating in a report released on Sunday.

Several other analysts have also recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $34.00 price objective on shares of REGENXBIO in a research note on Tuesday, October 7th. Barclays dropped their price target on REGENXBIO from $50.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Chardan Capital reissued a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Monday, September 8th. Royal Bank Of Canada upped their target price on REGENXBIO from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of REGENXBIO in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.63.

REGENXBIO Stock Performance

Shares of RGNX opened at $11.25 on Friday. REGENXBIO has a one year low of $5.03 and a one year high of $13.93. The stock has a market capitalization of $569.48 million, a price-to-earnings ratio of -3.24 and a beta of 1.23. The stock has a 50 day moving average price of $11.04 and a 200 day moving average price of $9.60.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($1.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.18. REGENXBIO had a negative return on equity of 78.29% and a negative net margin of 110.29%.The company had revenue of $29.73 million for the quarter, compared to analyst estimates of $24.41 million. On average, analysts predict that REGENXBIO will post -4.84 earnings per share for the current year.

Insider Buying and Selling at REGENXBIO

In related news, CEO Curran Simpson sold 20,811 shares of the firm’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $12.62, for a total transaction of $262,634.82. Following the completion of the sale, the chief executive officer directly owned 216,162 shares of the company’s stock, valued at approximately $2,727,964.44. This trade represents a 8.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 36,169 shares of company stock worth $416,598. Corporate insiders own 12.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new position in shares of REGENXBIO during the 1st quarter worth approximately $1,123,000. Invesco Ltd. lifted its stake in REGENXBIO by 52.4% during the first quarter. Invesco Ltd. now owns 79,469 shares of the biotechnology company’s stock worth $568,000 after purchasing an additional 27,341 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of REGENXBIO in the 2nd quarter valued at $1,453,000. Cerity Partners LLC purchased a new stake in shares of REGENXBIO in the 1st quarter valued at $228,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in REGENXBIO by 78.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,630 shares of the biotechnology company’s stock worth $268,000 after acquiring an additional 13,458 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

About REGENXBIO

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company’s products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.