Regenxbio (RGNX) Upgraded to Strong-Buy at BidaskClub

Regenxbio (NASDAQ:RGNX) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

Several other research firms also recently commented on RGNX. Morgan Stanley reaffirmed an “overweight” rating and issued a $34.00 price objective on shares of Regenxbio in a research note on Thursday, November 9th. Chardan Capital reaffirmed a “buy” rating on shares of Regenxbio in a research note on Monday, December 11th. Bank of America raised their price objective on Regenxbio from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, September 21st. Zacks Investment Research downgraded Regenxbio from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Finally, Raymond James Financial started coverage on Regenxbio in a research note on Thursday, October 12th. They issued an “outperform” rating and a $39.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $42.43.

Regenxbio (NASDAQ RGNX) opened at $31.35 on Friday. Regenxbio has a 12-month low of $16.30 and a 12-month high of $36.10.

Regenxbio (NASDAQ:RGNX) last posted its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.04. Regenxbio had a negative return on equity of 39.33% and a negative net margin of 764.06%. The firm had revenue of $1.34 million for the quarter. sell-side analysts predict that Regenxbio will post -2.71 EPS for the current fiscal year.

In related news, CFO Vittal Vasista sold 5,000 shares of Regenxbio stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $33.25, for a total transaction of $166,250.00. Following the sale, the chief financial officer now owns 92,283 shares of the company’s stock, valued at approximately $3,068,409.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donald J. Hayden, Jr. sold 20,000 shares of Regenxbio stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $32.45, for a total value of $649,000.00. Following the sale, the director now directly owns 20,000 shares in the company, valued at approximately $649,000. The disclosure for this sale can be found here. Insiders have sold a total of 104,000 shares of company stock worth $3,304,546 in the last three months. 17.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pura Vida Investments LLC raised its stake in Regenxbio by 17.7% during the 3rd quarter. Pura Vida Investments LLC now owns 33,920 shares of the biotechnology company’s stock valued at $1,118,000 after purchasing an additional 5,100 shares during the period. Perceptive Advisors LLC raised its stake in Regenxbio by 5.1% during the 3rd quarter. Perceptive Advisors LLC now owns 1,441,186 shares of the biotechnology company’s stock valued at $47,487,000 after purchasing an additional 70,000 shares during the period. Jane Street Group LLC bought a new stake in Regenxbio during the 3rd quarter valued at approximately $476,000. RTW Investments LP increased its stake in Regenxbio by 20.9% in the 3rd quarter. RTW Investments LP now owns 1,539,005 shares of the biotechnology company’s stock worth $50,710,000 after acquiring an additional 266,235 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Regenxbio by 25.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 122,509 shares of the biotechnology company’s stock worth $4,037,000 after acquiring an additional 24,814 shares during the last quarter. 68.73% of the stock is currently owned by institutional investors.

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About Regenxbio

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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