REGENXBIO (NASDAQ:RGNX) Shares Gap Up – Should You Buy?

REGENXBIO Inc. (NASDAQ:RGNX) gapped up prior to trading on Friday . The stock had previously closed at $11.14, but opened at $11.56. REGENXBIO shares last traded at $10.96, with a volume of 110,242 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RGNX. HC Wainwright increased their price target on shares of REGENXBIO from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Raymond James reissued an “outperform” rating and set a $18.00 target price on shares of REGENXBIO in a report on Thursday, October 10th. Barclays decreased their target price on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research 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. Finally, Chardan Capital reissued a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, REGENXBIO presently has a consensus rating of “Moderate Buy” and an average target price of $35.64.

REGENXBIO Stock Down 13.6 %

The business has a 50-day simple moving average of $10.50 and a 200-day simple moving average of $12.28. The company has a market cap of $477.07 million, a PE ratio of -1.91 and a beta of 1.23.

Insider Activity

In other news, Director Argeris N. Karabelas sold 10,000 shares of the business’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 sale, the director now owns 11,286 shares of the company’s stock, valued at $114,101.46. The trade was a 46.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Several institutional investors have recently bought and sold shares of RGNX. FMR LLC grew its holdings in shares of REGENXBIO by 166.8% during the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after buying an additional 1,656 shares in the last quarter. nVerses Capital LLC boosted its holdings in shares of REGENXBIO by 183.3% during the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 2,200 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of REGENXBIO in the first quarter valued at approximately $56,000. China Universal Asset Management Co. Ltd. lifted its position in REGENXBIO by 64.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,506 shares of the biotechnology company’s stock worth $100,000 after buying an additional 3,720 shares in the last quarter. Finally, Diversified Trust Co purchased a new position in REGENXBIO during the second quarter worth approximately $121,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.