Regenxbio (NASDAQ:RGNX) Downgraded by BidaskClub

BidaskClub downgraded shares of Regenxbio (NASDAQ:RGNX) from a sell rating to a strong sell rating in a research note released on Thursday, BidAskClub reports.

RGNX has been the topic of a number of other reports. ValuEngine raised shares of Regenxbio from a buy rating to a strong-buy rating in a research report on Thursday, August 1st. Zacks Investment Research raised shares of Regenxbio from a sell rating to a hold rating in a research report on Thursday, July 25th. Evercore ISI set a $79.00 price objective on shares of Regenxbio and gave the company a buy rating in a research note on Wednesday, August 7th. Raymond James began coverage on shares of Regenxbio in a research note on Thursday, June 13th. They set an outperform rating on the stock. Finally, Morgan Stanley set a $84.00 price objective on shares of Regenxbio and gave the company a buy rating in a research note on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $84.88.

Shares of RGNX stock opened at $37.18 on Thursday. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 15.62 and a beta of 0.71. The company has a quick ratio of 14.58, a current ratio of 14.58 and a debt-to-equity ratio of 0.01. Regenxbio has a fifty-two week low of $35.40 and a fifty-two week high of $83.45. The firm’s 50 day moving average price is $45.54 and its two-hundred day moving average price is $49.44.

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 analysts’ consensus estimates of ($0.50) by $0.46. The firm had revenue of $7.88 million for 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%. Regenxbio’s revenue was down 80.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. On average, equities analysts forecast that Regenxbio will post -2.85 EPS for the current fiscal year.

In other news, SVP Patrick J. Christmas sold 5,000 shares of Regenxbio stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $52.99, for a total transaction of $264,950.00. Following the sale, the senior vice president now owns 8,006 shares in the company, valued at $424,237.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Curran Simpson sold 18,000 shares of Regenxbio stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $50.00, for a total transaction of $900,000.00. Following the sale, the senior vice president now owns 57,500 shares in the company, valued at approximately $2,875,000. The disclosure for this sale can be found here. Insiders have sold 73,000 shares of company stock worth $3,590,400 in the last quarter. Insiders own 13.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware increased its stake in shares of Regenxbio by 51.8% in the first quarter. Mckinley Capital Management LLC Delaware now owns 888 shares of the biotechnology company’s stock worth $51,000 after buying an additional 303 shares during the last quarter. Financial Gravity Wealth Inc. bought a new stake in shares of Regenxbio in the first quarter worth $55,000. Berman Capital Advisors LLC increased its stake in shares of Regenxbio by 41.6% in the second quarter. Berman Capital Advisors LLC now owns 1,133 shares of the biotechnology company’s stock worth $58,000 after buying an additional 333 shares during the last quarter. NEXT Financial Group Inc bought a new stake in shares of Regenxbio in the second quarter worth $69,000. Finally, SG3 Management LLC bought a new stake in shares of Regenxbio in the first quarter worth $115,000. Institutional investors own 80.76% 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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