Morgan Stanley Reiterates “Overweight” Rating for REGENXBIO (NASDAQ:RGNX)

Morgan Stanley reissued their overweight rating on shares of REGENXBIO (NASDAQ:RGNX) in a research report report published on Friday, MarketBeat reports. The firm currently has a $22.00 target price on the biotechnology company’s stock.

RGNX has been the topic of a number of other reports. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. HC Wainwright lifted their price target on shares of REGENXBIO from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Raymond James reaffirmed an “outperform” rating and set a $18.00 price objective on shares of REGENXBIO in a report on Thursday, October 10th. Barclays decreased their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.64.

REGENXBIO Price Performance

RGNX opened at $10.15 on Friday. REGENXBIO has a 1-year low of $8.53 and a 1-year high of $28.80. The company has a market capitalization of $502.88 million, a price-to-earnings ratio of -2.02 and a beta of 1.23. The business has a 50 day moving average price of $10.47 and a two-hundred day moving average price of $12.21.

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 value of $101,100.00. Following the completion of the sale, the director now owns 11,286 shares of the company’s stock, valued at approximately $114,101.46. The trade was a 46.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RGNX. Redmile Group LLC boosted its stake in shares of REGENXBIO by 7.1% in the 3rd 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 in the last quarter. Vanguard Group Inc. lifted its stake in shares of REGENXBIO by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company’s stock valued at $102,756,000 after purchasing an additional 436,043 shares during the period. Geode Capital Management LLC boosted its holdings in shares of REGENXBIO by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,088,651 shares of the biotechnology company’s stock worth $11,422,000 after buying an additional 44,037 shares in the last quarter. Integral Health Asset Management LLC increased its stake in shares of REGENXBIO by 25.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company’s stock valued at $11,115,000 after acquiring an additional 190,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in REGENXBIO by 258.7% in the second 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 in the last quarter. Institutional investors 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.