Zacks Investment Research upgraded shares of Regenxbio (NASDAQ:RGNX) from a hold rating to a buy rating in a research note released on Friday. The firm currently has $37.00 price objective on the biotechnology company’s stock.
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. “
A number of other equities research analysts have also recently weighed in on RGNX. Barclays started coverage on Regenxbio in a research note on Wednesday, November 22nd. They issued an overweight rating and a $38.00 price target on the stock. TheStreet cut Regenxbio from a c rating to a d+ rating in a research note on Tuesday, November 28th. BidaskClub upgraded Regenxbio from a hold rating to a buy rating in a research note on Thursday, December 7th. Chardan Capital restated a buy rating on shares of Regenxbio in a research note on Monday, December 11th. Finally, Raymond James Financial restated a buy rating on shares of Regenxbio in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Regenxbio currently has a consensus rating of Buy and a consensus target price of $40.63.
Regenxbio (RGNX) traded down $0.60 on Friday, reaching $30.40. The company had a trading volume of 719,085 shares, compared to its average volume of 345,852. Regenxbio has a twelve month low of $16.30 and a twelve month high of $42.00. The company has a market cap of $965.50, a PE ratio of -12.31 and a beta of -1.21.
Regenxbio (NASDAQ:RGNX) last posted its quarterly earnings results on Tuesday, March 6th. The biotechnology company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.20. Regenxbio had a negative return on equity of 36.48% and a negative net margin of 704.02%. The business had revenue of $2.04 million for the quarter. sell-side analysts predict that Regenxbio will post -2.44 EPS for the current year.
In other Regenxbio news, SVP Curran Simpson sold 30,000 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $33.03, for a total transaction of $990,900.00. Following the transaction, the senior vice president now owns 69,500 shares in the company, valued at approximately $2,295,585. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vittal Vasista sold 5,000 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $30.00, for a total value of $150,000.00. Following the transaction, the chief financial officer now owns 87,277 shares in the company, valued at approximately $2,618,310. The disclosure for this sale can be found here. Insiders have sold a total of 95,000 shares of company stock worth $2,973,100 in the last quarter. Company insiders own 17.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of RGNX. State Street Corp increased its position in Regenxbio by 178.1% during the 2nd quarter. State Street Corp now owns 880,844 shares of the biotechnology company’s stock worth $17,399,000 after buying an additional 564,129 shares during the period. Citadel Advisors LLC increased its position in Regenxbio by 62.2% during the 4th quarter. Citadel Advisors LLC now owns 987,752 shares of the biotechnology company’s stock worth $32,843,000 after buying an additional 378,612 shares during the period. GMT Capital Corp increased its position in Regenxbio by 47.3% during the 3rd quarter. GMT Capital Corp now owns 898,067 shares of the biotechnology company’s stock worth $29,591,000 after buying an additional 288,367 shares during the period. RTW Investments LP increased its position in Regenxbio by 20.9% during the 3rd quarter. RTW Investments LP now owns 1,539,005 shares of the biotechnology company’s stock worth $50,710,000 after buying an additional 266,235 shares during the period. Finally, Artal Group S.A. increased its position in Regenxbio by 56.3% during the 4th quarter. Artal Group S.A. now owns 250,000 shares of the biotechnology company’s stock worth $8,313,000 after buying an additional 90,000 shares during the period. Hedge funds and other institutional investors own 69.22% of the company’s stock.
Regenxbio Company Profile
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.
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