Regenxbio (NASDAQ:RGNX) Upgraded to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of Regenxbio (NASDAQ:RGNX) from a buy rating to a strong-buy rating in a research note published on Thursday morning, ValuEngine reports.

RGNX has been the topic of several other research reports. Raymond James assumed coverage on Regenxbio in a research report on Thursday, June 13th. They set an outperform rating on the stock. Chardan Capital reaffirmed a buy rating and set a $150.00 target price (up previously from $145.00) on shares of Regenxbio in a report on Tuesday, June 18th. TheStreet downgraded Regenxbio from a c rating to a d+ rating in a report on Thursday, May 9th. Morgan Stanley set a $84.00 target price on Regenxbio and gave the stock a buy rating in a report on Monday, July 15th. Finally, BidaskClub downgraded Regenxbio from a hold rating to a sell rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $81.41.

Regenxbio stock traded down $2.24 during trading hours on Thursday, hitting $41.21. The company had a trading volume of 714,100 shares, compared to its average volume of 552,520. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 17.32 and a beta of 0.71. The company has a current ratio of 14.21, a quick ratio of 14.21 and a debt-to-equity ratio of 0.01. Regenxbio has a one year low of $38.56 and a one year high of $83.45. The business’s 50-day moving average is $48.86.

Regenxbio (NASDAQ:RGNX) last announced its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.04). Regenxbio had a negative net margin of 41.99% and a negative return on equity of 9.90%. The company had revenue of $0.88 million for the quarter. Equities analysts expect that Regenxbio will post -2.4 earnings per share for the current year.

In other Regenxbio news, SVP Curran Simpson sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $50.00, for a total transaction of $900,000.00. Following the completion of the sale, the senior vice president now owns 57,500 shares in the company, valued at approximately $2,875,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $42.99, for a total value of $644,850.00. Following the sale, the insider now owns 261,000 shares of the company’s stock, valued at approximately $11,220,390. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,000 shares of company stock valued at $3,590,400. Company insiders own 13.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its holdings in shares of Regenxbio by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 11,660 shares of the biotechnology company’s stock valued at $668,000 after purchasing an additional 211 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Regenxbio by 9.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,594 shares of the biotechnology company’s stock worth $149,000 after acquiring an additional 225 shares during the period. State of Alaska Department of Revenue raised its position in Regenxbio by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 10,310 shares of the biotechnology company’s stock worth $590,000 after acquiring an additional 245 shares during the period. Mckinley Capital Management LLC Delaware raised its position in 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 acquiring an additional 303 shares during the period. Finally, Berman Capital Advisors LLC raised its position in 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 acquiring an additional 333 shares during the period. Hedge funds and other institutional investors own 81.38% 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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