Regenxbio (NASDAQ:RGNX) was downgraded by Zacks Investment Research from a hold rating to a sell rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, REGENXBIO Inc. is a biotechnology company. The Company focuses on the development, commercialization and licensing of recombinant adeno-associated virus gene therapy. Its products candidates include RGX-501, for the treatment of homozygous familial hypercholesterolemia which uses the AAV8 vector to deliver the human low-density lipoprotein receptor gene to liver cells; RGX-111, for the treatment of Mucopolysaccharidosis Type I which uses the AAV9 vector to deliver the human a-l-iduronidase gene to the central nervous system; RGX-121, for the treatment of Mucopolysaccharidosis Type II; RGX-314, for the treatment of wet age-related macular degeneration and RGX-321, for the treatment of X-linked retinitis pigmentosa. REGENXBIO Inc. is headquartered in Rockville, Maryland.

A number of other brokerages have also issued reports on RGNX. Svb Leerink upgraded shares of Regenxbio from an underperform rating to a market perform rating and decreased their target price for the stock from $38.00 to $37.00 in a research report on Tuesday, August 20th. ValuEngine upgraded shares of Regenxbio from a buy rating to a strong-buy rating in a research report on Thursday, August 1st. Leerink Swann upgraded shares of Regenxbio from an underperform rating to a market perform rating in a research report on Tuesday, August 20th. They noted that the move was a valuation call. BidaskClub upgraded shares of Regenxbio from a strong sell rating to a sell rating in a research report on Thursday, September 12th. Finally, Raymond James initiated coverage on shares of Regenxbio in a research report on Thursday, June 13th. They set an outperform rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Regenxbio currently has a consensus rating of Hold and a consensus target price of $79.56.

Regenxbio (NASDAQ:RGNX) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks consensus estimate of ($0.50) by $0.46. Regenxbio had a negative net margin of 88.57% and a negative return on equity of 15.39%. The firm had revenue of $7.88 million for the quarter, compared to analyst estimates of $5.45 million. During the same quarter last year, the business earned $0.30 earnings per share. Regenxbios revenue was down 80.3% compared to the same quarter last year. As a group, equities analysts predict that Regenxbio will post -2.85 EPS for the current year.

In other Regenxbio news, insider Kenneth T. Mills sold 15,000 shares of Regenxbio stock in a transaction on Friday, July 19th. The shares were sold at an average price of $49.49, for a total value of $742,350.00. Following the transaction, the insider now owns 261,000 shares in the company, valued at approximately $12,916,890. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Patrick J. Christmas sold 5,486 shares of the firms stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $42.00, for a total transaction of $230,412.00. Following the completion of the transaction, the senior vice president now directly owns 8,058 shares in the company, valued at approximately $338,436. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,486 shares of company stock worth $1,786,162. 13.80% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Regenxbio by 3.5% in the 2nd quarter. BlackRock Inc. now owns 5,047,103 shares of the biotechnology companys stock valued at $259,270,000 after acquiring an additional 169,888 shares during the period. Royal Bank of Canada raised its stake in shares of Regenxbio by 36.2% in the 2nd quarter. Royal Bank of Canada now owns 3,910 shares of the biotechnology companys stock valued at $201,000 after acquiring an additional 1,040 shares during the period. UBS Group AG raised its stake in shares of Regenxbio by 438.6% in the 2nd quarter. UBS Group AG now owns 263,094 shares of the biotechnology companys stock valued at $13,515,000 after acquiring an additional 214,244 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of Regenxbio in the 2nd quarter valued at $10,206,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Regenxbio by 0.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 119,714 shares of the biotechnology companys stock valued at $6,150,000 after acquiring an additional 752 shares during the period. 79.40% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Article: What is the accumulation/distribution indicator?

Get a free copy of the Zacks research report on Regenxbio (RGNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Regenxbio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regenxbio and related companies with MarketBeat.com's FREE daily email newsletter.

Read this article:
Regenxbio (NASDAQ:RGNX) Downgraded by Zacks Investment Research to Sell - Mayfield Recorder

Comments are closed.