Regenxbio (RGNX) Downgraded to “Sell” at BidaskClub

BidaskClub downgraded shares of Regenxbio (NASDAQ:RGNX) from a hold rating to a sell rating in a research note published on Tuesday, BidAskClub reports.

A number of other brokerages have also recently commented on RGNX. Evercore ISI raised shares of Regenxbio from an in-line rating to an outperform rating and set a $51.25 price objective on the stock in a research note on Monday, February 25th. Zacks Investment Research cut shares of Regenxbio from a buy rating to a hold rating in a research note on Saturday, February 23rd. Barclays increased their price objective on shares of Regenxbio from $83.00 to $88.00 and gave the company an overweight rating in a research note on Tuesday, December 18th. Chardan Capital reissued a buy rating and issued a $127.50 price objective on shares of Regenxbio in a research note on Friday, January 4th. Finally, Morgan Stanley lowered their price objective on shares of Regenxbio from $93.00 to $85.00 and set an overweight rating on the stock in a research note on Wednesday, December 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Regenxbio currently has an average rating of Buy and a consensus price target of $77.97.

Shares of NASDAQ RGNX opened at $53.67 on Tuesday. The stock has a market capitalization of $1.94 billion, a P/E ratio of 22.55 and a beta of 0.47. Regenxbio has a 52 week low of $35.65 and a 52 week high of $85.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 15.24 and a current ratio of 15.24.

Regenxbio (NASDAQ:RGNX) last issued its quarterly earnings data on Wednesday, February 27th. The biotechnology company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.43. Regenxbio had a net margin of 45.74% and a return on equity of 22.33%. As a group, equities research analysts expect that Regenxbio will post -3.22 earnings per share for the current year.

In other Regenxbio news, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $58.53, for a total value of $877,950.00. Following the transaction, the chief executive officer now directly owns 261,000 shares in the company, valued at approximately $15,276,330. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Vittal Vasista sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $60.75, for a total transaction of $607,500.00. Following the completion of the transaction, the chief financial officer now owns 230,915 shares in the company, valued at $14,028,086.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,200 shares of company stock worth $4,860,482. 16.90% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Berman Capital Advisors LLC purchased a new position in Regenxbio in the 4th quarter valued at about $33,000. NumerixS Investment Technologies Inc purchased a new position in shares of Regenxbio during the 4th quarter worth about $50,000. LS Investment Advisors LLC lifted its holdings in shares of Regenxbio by 63.1% during the 4th quarter. LS Investment Advisors LLC now owns 2,260 shares of the biotechnology company’s stock worth $95,000 after acquiring an additional 874 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Regenxbio by 31.7% during the 4th quarter. Meeder Asset Management Inc. now owns 2,578 shares of the biotechnology company’s stock worth $109,000 after acquiring an additional 621 shares during the period. Finally, Riverhead Capital Management LLC lifted its holdings in shares of Regenxbio by 137.5% during the 3rd quarter. Riverhead Capital Management LLC now owns 1,900 shares of the biotechnology company’s stock worth $143,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 82.18% of the company’s stock.

Regenxbio Company Profile

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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