Wall Street Zen Downgrades REGENXBIO (NASDAQ:RGNX) to Strong Sell

Key Points

• REGENXBIO has been downgraded from a "hold" rating to a "strong sell" rating by analysts at Wall Street Zen, reflecting a significant shift in investor sentiment.
• Multiple institutions have adjusted their price targets for REGENXBIO, with Royal Bank of Canada lowering it from $21.00 to $17.00, and Goldman Sachs reducing theirs from $14.00 to $12.00.
• REGENXBIO reported a quarterly loss of $1.38 EPS, missing earnings estimates and generating revenue significantly below expectations, which may affect future investor confidence.

Wall Street Zen lowered shares of REGENXBIO (NASDAQ:RGNX - Free Report) from a hold rating to a strong sell rating in a report published on Saturday.

Several other research analysts have also commented on RGNX. Royal Bank Of Canada reduced their price objective on shares of REGENXBIO from $21.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday. Barclays cut their price target on shares of REGENXBIO from $50.00 to $37.00 and set an "overweight" rating on the stock in a research note on Friday. The Goldman Sachs Group dropped their price objective on shares of REGENXBIO from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $52.00 price objective on shares of REGENXBIO in a report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, REGENXBIO presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.38.

REGENXBIO Trading Down 5.0%

Shares of RGNX stock traded down $0.39 during trading hours on Friday, reaching $7.46. 659,357 shares of the stock were exchanged, compared to its average volume of 978,729. REGENXBIO has a 12-month low of $5.03 and a 12-month high of $13.48. The company's 50-day moving average price is $8.79 and its 200-day moving average price is $8.03. The firm has a market capitalization of $376.80 million, a price-to-earnings ratio of -2.17 and a beta of 1.11.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.25). REGENXBIO had a negative net margin of 112.70% and a negative return on equity of 66.95%. The company had revenue of $21.36 million during the quarter, compared to analysts' expectations of $40.87 million. On average, sell-side analysts expect that REGENXBIO will post -4.84 EPS for the current year.

Hedge Funds Weigh In On REGENXBIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its position in shares of REGENXBIO by 8.8% during the 4th quarter. American Century Companies Inc. now owns 95,026 shares of the biotechnology company's stock worth $735,000 after purchasing an additional 7,658 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of REGENXBIO during the 4th quarter worth about $54,000. Geode Capital Management LLC raised its position in shares of REGENXBIO by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,094,225 shares of the biotechnology company's stock valued at $8,460,000 after buying an additional 5,574 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of REGENXBIO by 34.0% in the fourth quarter. Wells Fargo & Company MN now owns 48,437 shares of the biotechnology company's stock valued at $374,000 after buying an additional 12,285 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of REGENXBIO in the fourth quarter valued at about $79,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

About REGENXBIO

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company's products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.