REGENXBIO Inc. (NASDAQ:RGNX) Receives $35.27 Average Price Target from Brokerages

REGENXBIO Inc. (NASDAQ:RGNX) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $35.27.

Several brokerages recently commented on RGNX. Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 price objective on shares of REGENXBIO in a research note on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of REGENXBIO in a research report on Wednesday, December 11th. HC Wainwright lowered their price objective on REGENXBIO from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Raymond James restated an “outperform” rating and set a $18.00 target price on shares of REGENXBIO in a research report on Thursday, October 10th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a report on Wednesday, November 20th.

Insiders Place Their Bets

In other news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total transaction of $101,100.00. Following the transaction, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $114,101.46. This trade represents a 46.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in REGENXBIO by 8.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock valued at $383,000 after buying an additional 1,438 shares during the last quarter. Diversified Trust Co bought a new stake in shares of REGENXBIO in the second quarter worth about $121,000. Assenagon Asset Management S.A. increased its holdings in REGENXBIO by 258.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 816,384 shares of the biotechnology company’s stock valued at $9,552,000 after purchasing an additional 588,773 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in REGENXBIO by 26.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 134,190 shares of the biotechnology company’s stock valued at $1,570,000 after purchasing an additional 27,906 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in REGENXBIO by 14.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the biotechnology company’s stock worth $267,000 after buying an additional 2,800 shares during the period. 88.08% of the stock is currently owned by institutional investors.

REGENXBIO Stock Up 3.1 %

RGNX stock opened at $8.54 on Thursday. The stock has a 50-day simple moving average of $9.72 and a two-hundred day simple moving average of $11.33. REGENXBIO has a twelve month low of $8.06 and a twelve month high of $28.80. The firm has a market capitalization of $423.11 million, a PE ratio of -1.70 and a beta of 1.24.

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.