REGENXBIO (NASDAQ:RGNX) Stock Rating Cut to “Sell” at Wall Street Zen

REGENXBIO (NASDAQ:RGNX) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on RGNX. Zacks Research upgraded REGENXBIO from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Robert W. Baird reduced their price objective on shares of REGENXBIO from $32.00 to $29.00 and set an “outperform” rating for the company in a research report on Tuesday, August 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of REGENXBIO in a research note on Friday, September 4th. Mizuho set a $18.00 price target on REGENXBIO in a research note on Friday. Finally, Barclays cut shares of REGENXBIO from an “overweight” rating to a “hold” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, REGENXBIO has an average rating of “Moderate Buy” and an average price target of $23.18.

REGENXBIO Price Performance

REGENXBIO stock opened at $7.62 on Friday. The company has a market capitalization of $503.00 million, a P/E ratio of -2.37 and a beta of 1.24. REGENXBIO has a 1 year low of $5.45 and a 1 year high of $16.19. The business has a 50 day moving average of $7.80 and a 200-day moving average of $9.06.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Thursday, November 5th. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.67. The company had revenue of $9.16 million during the quarter, compared to analyst estimates of $10.89 million. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. Equities analysts anticipate that REGENXBIO will post -3.65 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in REGENXBIO during the 3rd quarter valued at about $25,000. Versant Capital Management Inc boosted its position in shares of REGENXBIO by 60.4% during the second quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company’s stock worth $33,000 after buying an additional 1,032 shares during the period. Quantbot Technologies LP purchased a new position in REGENXBIO in the second quarter valued at $51,000. Legal & General Group Plc acquired a new position in shares of REGENXBIO in the second quarter valued at approximately $56,000. Finally, StoneX Group Inc. acquired a new position in REGENXBIO during the third quarter worth $81,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

REGENXBIO Company Profile

REGENXBIO Inc (NASDAQ: RGNX) is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases. The company’s programs use adeno-associated virus (AAV) vectors to deliver genetic material to targeted cells, with the goal of addressing the underlying causes of disease rather than primarily treating symptoms.

REGENXBIO’s technology is built around its NAV AAV Technology Platform, which supports the design and development of gene-delivery vectors. Its pipeline has included investigational therapies for conditions such as Duchenne muscular dystrophy, Hunter syndrome, age-related macular degeneration and other rare diseases.