REGENXBIO (NASDAQ:RGNX) Receives Overweight Rating from Morgan Stanley

REGENXBIO (NASDAQ:RGNX)‘s stock had its “overweight” rating reaffirmed by Morgan Stanley in a report released on Friday,Benzinga reports. They presently have a $22.00 price objective on the biotechnology company’s stock. Morgan Stanley’s target price suggests a potential upside of 97.49% from the company’s current price.

Several other research firms also recently issued reports on RGNX. Barclays decreased their price objective on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, August 5th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Raymond James reissued an “outperform” rating and set a $18.00 price objective on shares of REGENXBIO in a research report on Thursday, October 10th. HC Wainwright increased their target price on REGENXBIO from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.64.

REGENXBIO Stock Up 4.4 %

Shares of REGENXBIO stock opened at $11.14 on Friday. REGENXBIO has a 12-month low of $8.53 and a 12-month high of $28.80. The stock has a 50 day moving average price of $10.54 and a two-hundred day moving average price of $12.35. The stock has a market capitalization of $551.88 million, a P/E ratio of -2.21 and a beta of 1.23.

Insiders Place Their Bets

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total transaction of $101,100.00. Following the completion of the transaction, the director now owns 11,286 shares in the company, valued at $114,101.46. This trade represents a 46.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in REGENXBIO in the first quarter valued at $56,000. Janney Montgomery Scott LLC bought a new stake in shares of REGENXBIO in the 1st quarter worth about $304,000. Swiss National Bank lifted its holdings in REGENXBIO by 4.5% during the 1st quarter. Swiss National Bank now owns 81,500 shares of the biotechnology company’s stock valued at $1,717,000 after purchasing an additional 3,500 shares during the last quarter. ProShare Advisors LLC boosted its position in REGENXBIO by 8.3% in the first quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock valued at $240,000 after buying an additional 874 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in REGENXBIO by 33.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 15,485 shares of the biotechnology company’s stock worth $326,000 after buying an additional 3,870 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

REGENXBIO Company Profile

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.