REGENXBIO (NASDAQ:RGNX) Given “Buy” Rating at Chardan Capital

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

Several other research analysts have also commented on the company. HC Wainwright cut their price objective on REGENXBIO from $36.00 to $34.00 and set a “buy” rating for the company in a report on Monday. The Goldman Sachs Group lowered REGENXBIO from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $38.00 to $14.00 in a report on Tuesday, February 11th. Morgan Stanley boosted their price objective on REGENXBIO from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 price objective on shares of REGENXBIO in a report on Tuesday, January 21st. Finally, StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.88.

REGENXBIO Stock Down 1.6 %

Shares of RGNX opened at $8.36 on Thursday. The business’s 50-day moving average price is $7.29 and its 200-day moving average price is $8.93. REGENXBIO has a twelve month low of $5.62 and a twelve month high of $23.14. The stock has a market cap of $414.20 million, a PE ratio of -1.66 and a beta of 1.35.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.27) by $0.26. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. The firm had revenue of $21.21 million for the quarter, compared to analysts’ expectations of $23.70 million. Analysts expect that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Institutional Trading of REGENXBIO

Several hedge funds and other institutional investors have recently bought and sold shares of RGNX. Barclays PLC lifted its position in REGENXBIO by 141.3% in the third quarter. Barclays PLC now owns 116,024 shares of the biotechnology company’s stock valued at $1,217,000 after purchasing an additional 67,948 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in REGENXBIO by 53.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company’s stock valued at $6,621,000 after purchasing an additional 296,700 shares during the last quarter. BNP Paribas Financial Markets lifted its position in REGENXBIO by 602.9% in the third quarter. BNP Paribas Financial Markets now owns 20,441 shares of the biotechnology company’s stock valued at $214,000 after purchasing an additional 17,533 shares during the last quarter. FMR LLC lifted its position in REGENXBIO by 166.8% in the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,656 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in REGENXBIO by 13.3% in the third quarter. Stifel Financial Corp now owns 149,280 shares of the biotechnology company’s stock valued at $1,566,000 after purchasing an additional 17,563 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

About REGENXBIO

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.