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

Chardan Capital reaffirmed their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research note published on Wednesday morning,Benzinga reports. Chardan Capital currently has a $52.00 price objective on the biotechnology company’s stock.

A number of other research firms have also 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. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Barclays cut their price objective 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. Raymond James reissued an “outperform” rating and set a $18.00 price objective on shares of REGENXBIO in a research note on Thursday, October 10th. Finally, HC Wainwright lifted their target price on shares of REGENXBIO from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.27.

REGENXBIO Stock Performance

Shares of NASDAQ:RGNX opened at $9.59 on Wednesday. The business’s fifty day moving average price is $10.24 and its two-hundred day moving average price is $12.07. The stock has a market cap of $475.09 million, a PE ratio of -1.91 and a beta of 1.23. REGENXBIO has a one year low of $8.53 and a one year high of $28.80.

Insider Buying and Selling

In related news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction that occurred on 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 approximately $114,101.46. This represents a 46.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RGNX. Integral Health Asset Management LLC raised 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 during the period. Quest Partners LLC raised its position in REGENXBIO by 11,731.0% in the second quarter. Quest Partners LLC now owns 42,000 shares of the biotechnology company’s stock valued at $491,000 after purchasing an additional 41,645 shares during the period. ProShare Advisors LLC raised its position in REGENXBIO by 8.3% in the first quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock valued at $240,000 after purchasing an additional 874 shares during the period. Squarepoint Ops LLC lifted its stake in shares of REGENXBIO by 630.9% during the second quarter. Squarepoint Ops LLC now owns 146,259 shares of the biotechnology company’s stock worth $1,711,000 after purchasing an additional 126,249 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of REGENXBIO in the second quarter worth about $494,000. 88.08% of the stock is 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.