BidaskClub Downgrades Regenxbio (NASDAQ:RGNX) to Strong Sell

BidaskClub lowered shares of Regenxbio (NASDAQ:RGNX) from a sell rating to a strong sell rating in a research note published on Thursday, BidAskClub reports.

Several other research firms also recently commented on RGNX. Chardan Capital reiterated a buy rating and issued a $150.00 price objective (up from $145.00) on shares of Regenxbio in a report on Tuesday, June 18th. Zacks Investment Research upgraded Regenxbio from a sell rating to a hold rating in a report on Thursday, July 25th. TheStreet downgraded Regenxbio from a c rating to a d+ rating in a report on Thursday, May 9th. Evercore ISI set a $79.00 price objective on Regenxbio and gave the stock a buy rating in a report on Wednesday, August 7th. Finally, ValuEngine upgraded Regenxbio from a buy rating to a strong-buy rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $84.88.

NASDAQ RGNX opened at $37.18 on Thursday. Regenxbio has a one year low of $35.40 and a one year high of $83.45. The stock has a 50-day moving average of $45.54 and a 200 day moving average of $49.44. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 15.62 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.58 and a current ratio of 14.58.

Regenxbio (NASDAQ:RGNX) last released its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.46. Regenxbio had a negative return on equity of 15.39% and a negative net margin of 88.57%. The company had revenue of $7.88 million during the quarter, compared to the consensus estimate of $5.45 million. During the same period last year, the company earned $0.30 EPS. Regenxbio’s revenue for the quarter was down 80.3% on a year-over-year basis. On average, equities analysts predict that Regenxbio will post -2.85 earnings per share for the current fiscal year.

In other Regenxbio news, SVP Patrick J. Christmas sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $52.99, for a total transaction of $264,950.00. Following the completion of the sale, the senior vice president now directly owns 8,006 shares in the company, valued at approximately $424,237.94. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $52.54, for a total value of $788,100.00. Following the sale, the insider now owns 261,000 shares of the company’s stock, valued at $13,712,940. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,000 shares of company stock valued at $2,945,550. Corporate insiders own 13.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware lifted its position in shares of Regenxbio by 51.8% during the 1st quarter. Mckinley Capital Management LLC Delaware now owns 888 shares of the biotechnology company’s stock valued at $51,000 after buying an additional 303 shares in the last quarter. Financial Gravity Wealth Inc. purchased a new position in shares of Regenxbio during the 1st quarter valued at about $55,000. Berman Capital Advisors LLC lifted its position in shares of Regenxbio by 41.6% during the 2nd quarter. Berman Capital Advisors LLC now owns 1,133 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 333 shares in the last quarter. NEXT Financial Group Inc purchased a new position in shares of Regenxbio during the 2nd quarter valued at about $69,000. Finally, SG3 Management LLC purchased a new position in shares of Regenxbio during the 1st quarter valued at about $115,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

About Regenxbio

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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