REGENXBIO (NASDAQ:RGNX) Upgraded to Strong-Buy at Mizuho

Mizuho upgraded shares of REGENXBIO (NASDAQ:RGNX) to a strong-buy rating in a report issued on Monday,Zacks reports.

A number of other equities research analysts have also recently commented on the stock. Robert W. Baird cut their price target on shares of REGENXBIO from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of REGENXBIO in a research report on Friday, September 4th. Morgan Stanley reiterated an “overweight” rating and set a $18.00 target price on shares of REGENXBIO in a research note on Friday, August 7th. Barclays lowered REGENXBIO from an “overweight” rating to a “hold” rating in a report on Friday, August 7th. Finally, Zacks Research raised REGENXBIO from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.17.

REGENXBIO Trading Up 4.4%

Shares of NASDAQ:RGNX opened at $7.76 on Monday. REGENXBIO has a 12-month low of $5.45 and a 12-month high of $16.19. The stock has a fifty day simple moving average of $9.22 and a two-hundred day simple moving average of $9.12. The stock has a market capitalization of $512.26 million, a price-to-earnings ratio of -2.05 and a beta of 1.13.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.35. The company had revenue of $108.02 million for the quarter, compared to analysts’ expectations of $97.63 million. REGENXBIO had a negative net margin of 112.58% and a negative return on equity of 220.07%. As a group, equities research analysts predict that REGENXBIO will post -3.91 EPS for the current year.

Institutional Trading of REGENXBIO

Institutional investors and hedge funds have recently modified their holdings of the company. WINTON GROUP Ltd bought a new position in shares of REGENXBIO in the second quarter worth about $290,000. Corient Private Wealth LP purchased a new position in REGENXBIO in the 2nd quarter worth approximately $2,608,000. AXQ Capital LP purchased a new position in REGENXBIO in the 2nd quarter worth approximately $221,000. Palogic Value Management L.P. bought a new position in REGENXBIO in the 2nd quarter worth approximately $360,000. Finally, Bank of America Corp DE purchased a new stake in REGENXBIO during the 2nd quarter valued at approximately $6,212,000. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Company Profile

REGENXBIO Inc is a biotechnology company focused on developing and commercializing gene therapies for serious diseases. The company’s programs are based primarily on its proprietary NAV AAV Technology Platform, which uses adeno-associated virus (AAV) vectors to deliver genetic material to targeted cells. Its research has emphasized conditions affecting the central nervous system, muscles and other tissues.

REGENXBIO’s pipeline has included investigational therapies such as RGX-121 for mucopolysaccharidosis type II, RGX-111 for mucopolysaccharidosis type I and RGX-202 for Duchenne muscular dystrophy.