REGENXBIO (NASDAQ:RGNX) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded REGENXBIO from “hold” to “sell.” Despite the downgrade, MarketBeat’s analyst consensus remained “Moderate Buy,” with a $23.18 price target.
• REGENXBIO reported quarterly EPS of -$0.62, beating the consensus estimate of -$1.29, while revenue of $9.16 million fell short of analysts’ $10.89 million expectation.
• Shares opened at $7.62 and were trading below their 50-day and 200-day moving averages; the stock’s 12-month range was $5.45–$16.19.

REGENXBIO (NASDAQ:RGNX - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

RGNX has been the subject of several other research reports. Mizuho set a $18.00 price target on shares of REGENXBIO in a research report on Friday. Robert W. Baird lowered their target price on shares of REGENXBIO from $32.00 to $29.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 25th. HC Wainwright restated a "buy" rating on shares of REGENXBIO in a report on Monday, September 28th. UBS Group reiterated a "positive" rating on shares of REGENXBIO in a research report on Friday. Finally, Zacks Research upgraded REGENXBIO from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. One 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 company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.18.

REGENXBIO Trading Up 3.3%

Shares of RGNX opened at $7.62 on Friday. The stock's 50-day moving average price is $7.80 and its two-hundred day moving average price is $9.06. REGENXBIO has a 12 month low of $5.45 and a 12 month high of $16.19. The company has a market capitalization of $503.00 million, a PE ratio of -2.37 and a beta of 1.24.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.67. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. The company had revenue of $9.16 million for the quarter, compared to analysts' expectations of $10.89 million. Equities research analysts predict that REGENXBIO will post -3.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RGNX. BlackRock Inc. purchased a new stake in shares of REGENXBIO in the second quarter worth approximately $76,641,000. Dimensional Fund Advisors LP lifted its stake in shares of REGENXBIO by 11.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,010,381 shares of the biotechnology company's stock valued at $8,464,000 after purchasing an additional 106,530 shares during the last quarter. Bank of America Corp DE purchased a new position in REGENXBIO in the second quarter worth $6,212,000. Corient Private Wealth LP acquired a new position in REGENXBIO in the 2nd quarter worth about $2,608,000. Finally, Deutsche Bank AG purchased a new position in shares of REGENXBIO during the 2nd quarter worth $2,490,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

About REGENXBIO

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.