REGENXBIO’s (RGNX) Buy Rating Reaffirmed at Chardan Capital

Chardan Capital reissued their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research note published on Wednesday,Benzinga reports. The brokerage currently has a $52.00 target price on the biotechnology company’s stock.

Several other research firms have also recently commented on RGNX. Raymond James restated an “outperform” rating and issued a $18.00 target price on shares of REGENXBIO in a research note on Thursday, October 10th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. HC Wainwright boosted their target price on REGENXBIO from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley reissued an “overweight” rating and issued a $22.00 price target on shares of REGENXBIO in a report on Friday, November 15th. Finally, Barclays dropped their price objective on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.27.

REGENXBIO Price Performance

REGENXBIO stock opened at $9.59 on Wednesday. The business has a 50 day simple moving average of $10.31 and a 200-day simple moving average of $12.12. REGENXBIO has a 12 month low of $8.53 and a 12 month high of $28.80. The stock has a market capitalization of $475.14 million, a PE ratio of -1.91 and a beta of 1.23.

Insider Activity

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.56, for a total transaction of $115,600.00. Following the completion of the transaction, the director now owns 11,286 shares of the company’s stock, valued at approximately $130,466.16. This trade represents a 46.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of REGENXBIO by 141.3% during the 3rd quarter. Barclays PLC now owns 116,024 shares of the biotechnology company’s stock worth $1,217,000 after purchasing an additional 67,948 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of REGENXBIO by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,088,651 shares of the biotechnology company’s stock valued at $11,422,000 after buying an additional 44,037 shares during the period. National Bank of Canada FI acquired a new stake in REGENXBIO during the third quarter worth approximately $713,000. Stifel Financial Corp grew its stake in REGENXBIO by 13.3% in the 3rd quarter. Stifel Financial Corp now owns 149,280 shares of the biotechnology company’s stock worth $1,566,000 after acquiring an additional 17,563 shares during the period. Finally, Redmile Group LLC grew its position in shares of REGENXBIO by 7.1% in the third quarter. Redmile Group LLC now owns 4,892,902 shares of the biotechnology company’s stock valued at $51,327,000 after purchasing an additional 323,100 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.