Regenxbio (RGNX) Raised to Buy at Zacks Investment Research

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Regenxbio (NASDAQ:RGNX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage currently has a $52.00 target price on the biotechnology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.84% from the company’s previous close.

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. “

RGNX has been the subject of a number of other research reports. Leerink Swann initiated coverage on Regenxbio in a report on Tuesday, November 27th. They issued an “underperform” rating and a $42.00 price objective for the company. Chardan Capital reiterated a “buy” rating and issued a $127.50 price objective on shares of Regenxbio in a report on Monday, December 17th. Raymond James upgraded Regenxbio from an “outperform” rating to a “strong-buy” rating and set a $94.00 price objective for the company in a report on Tuesday, February 5th. Barclays increased their price objective on Regenxbio from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, December 18th. Finally, BidaskClub downgraded Regenxbio from a “hold” rating to a “sell” rating in a report on Saturday, December 8th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $81.79.

Shares of Regenxbio stock opened at $45.68 on Friday. The company has a market cap of $1.66 billion, a P/E ratio of -18.64 and a beta of 0.41. Regenxbio has a 52 week low of $26.75 and a 52 week high of $85.10.

In other news, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $47.29, for a total value of $709,350.00. Following the sale, the chief executive officer now directly owns 261,000 shares of the company’s stock, valued at $12,342,690. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Patrick J. Christmas sold 5,000 shares of the stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $47.54, for a total value of $237,700.00. Following the completion of the sale, the senior vice president now directly owns 7,669 shares in the company, valued at $364,584.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,623 shares of company stock valued at $8,296,412. 16.90% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Regenxbio by 2.1% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,192 shares of the biotechnology company’s stock worth $470,000 after acquiring an additional 225 shares during the last quarter. Piedmont Investment Advisors Inc. grew its stake in shares of Regenxbio by 5.8% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 7,198 shares of the biotechnology company’s stock worth $302,000 after acquiring an additional 395 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Regenxbio by 8.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 5,364 shares of the biotechnology company’s stock worth $225,000 after acquiring an additional 398 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Regenxbio by 3.6% in the fourth quarter. New York State Teachers Retirement System now owns 12,649 shares of the biotechnology company’s stock worth $531,000 after acquiring an additional 438 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Regenxbio by 5.0% in the fourth quarter. State of Alaska Department of Revenue now owns 10,065 shares of the biotechnology company’s stock worth $422,000 after acquiring an additional 475 shares during the last quarter. 81.48% of the stock is currently owned by hedge funds and other institutional investors.

Regenxbio Company Profile

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 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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