REGENXBIO Inc. (NASDAQ:RGNX) Given Average Rating of “Moderate Buy” by Brokerages

REGENXBIO Inc. (NASDAQ:RGNX) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $34.82.

A number of equities research analysts recently commented on RGNX shares. StockNews.com downgraded REGENXBIO from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. Raymond James reaffirmed an “outperform” rating and set a $18.00 target price on shares of REGENXBIO in a report on Thursday, October 10th. Chardan Capital reissued a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research note on Wednesday, November 20th. Royal Bank of Canada restated an “outperform” rating and issued a $30.00 price target on shares of REGENXBIO in a research note on Tuesday, January 21st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $22.00 price target on shares of REGENXBIO in a research report on Friday, November 15th.

REGENXBIO Price Performance

Shares of RGNX stock opened at $7.90 on Friday. The business has a fifty day moving average of $8.26 and a 200 day moving average of $10.27. REGENXBIO has a 1 year low of $6.56 and a 1 year high of $28.80. The firm has a market capitalization of $391.37 million, a price-to-earnings ratio of -1.57 and a beta of 1.28.

Hedge Funds Weigh In On REGENXBIO

Several institutional investors have recently bought and sold shares of RGNX. Redmile Group LLC grew its stake in shares of 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 acquiring an additional 323,100 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of REGENXBIO by 4.2% during the third 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 during the period. Assenagon Asset Management S.A. raised its holdings in REGENXBIO by 53.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company’s stock valued at $6,621,000 after acquiring an additional 296,700 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 worth $4,382,000 after acquiring an additional 37,055 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of REGENXBIO by 84.8% in the 2nd quarter. Millennium Management LLC now owns 306,487 shares of the biotechnology company’s stock valued at $3,586,000 after purchasing an additional 140,666 shares in 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.