REGENXBIO (NASDAQ:RGNX) Rating Lowered to “Sell” at StockNews.com

REGENXBIO (NASDAQ:RGNX) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

RGNX has been the topic of several other research reports. HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of REGENXBIO in a report on Wednesday, January 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price target on shares of REGENXBIO in a report on Tuesday. Raymond James reaffirmed an “outperform” rating and set a $18.00 price objective on shares of REGENXBIO in a report on Thursday, October 10th. Chardan Capital reissued a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research note on Wednesday, November 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 price objective on shares of REGENXBIO in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.82.

REGENXBIO Price Performance

NASDAQ RGNX opened at $7.88 on Thursday. The company’s fifty day moving average is $8.42 and its two-hundred day moving average is $10.38. The firm has a market capitalization of $390.38 million, a price-to-earnings ratio of -1.57 and a beta of 1.28. REGENXBIO has a 52-week low of $6.56 and a 52-week high of $28.80.

Institutional Investors Weigh In On REGENXBIO

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Redmile Group LLC boosted 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 valued at $51,327,000 after acquiring an additional 323,100 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of REGENXBIO by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,088,651 shares of the biotechnology company’s stock valued at $11,422,000 after purchasing an additional 44,037 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of REGENXBIO by 53.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company’s stock worth $6,621,000 after buying an additional 296,700 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in REGENXBIO by 9.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 417,739 shares of the biotechnology company’s stock valued at $4,382,000 after buying an additional 37,055 shares during the period. Finally, Millennium Management LLC boosted its stake in REGENXBIO by 84.8% in the second quarter. Millennium Management LLC now owns 306,487 shares of the biotechnology company’s stock valued at $3,586,000 after acquiring an additional 140,666 shares during the last quarter. 88.08% of the stock is 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.