REGENXBIO (NASDAQ:RGNX) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of REGENXBIO (NASDAQ:RGNX) from a sell rating to a hold rating in a research note released on Friday morning.

RGNX has been the subject of several other research reports. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of REGENXBIO in a research note on Wednesday, January 15th. Chardan Capital reaffirmed a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a research note on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 target price on shares of REGENXBIO in a research note on Tuesday, January 21st. Morgan Stanley reissued an “overweight” rating and set a $22.00 target price on shares of REGENXBIO in a research note on Friday, November 15th. Finally, The Goldman Sachs Group downgraded shares of REGENXBIO from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $38.00 to $14.00 in a research note on Tuesday, February 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.88.

REGENXBIO Stock Performance

RGNX stock opened at $6.34 on Friday. The company has a fifty day moving average price of $7.46 and a 200-day moving average price of $9.28. The company has a market capitalization of $314.12 million, a P/E ratio of -1.26 and a beta of 1.29. REGENXBIO has a 52-week low of $5.62 and a 52-week high of $24.26.

Institutional Investors Weigh In On REGENXBIO

A number of large investors have recently bought and sold shares of the stock. Redmile Group LLC grew its holdings in REGENXBIO by 7.1% in the third quarter. Redmile Group LLC now owns 4,892,902 shares of the biotechnology company’s stock worth $51,327,000 after purchasing an additional 323,100 shares during the period. JPMorgan Chase & Co. grew its holdings in REGENXBIO by 67.0% in the fourth quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company’s stock worth $31,975,000 after purchasing an additional 1,659,206 shares during the period. Millennium Management LLC grew its holdings in REGENXBIO by 406.3% in the fourth quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company’s stock worth $10,222,000 after purchasing an additional 1,061,187 shares during the period. Balyasny Asset Management L.P. grew its holdings in REGENXBIO by 6.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,187,102 shares of the biotechnology company’s stock worth $9,176,000 after purchasing an additional 66,993 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in REGENXBIO by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,171,422 shares of the biotechnology company’s stock worth $9,054,000 after purchasing an additional 21,234 shares during the period. 88.08% of the stock is currently 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.