REGENXBIO (NASDAQ:RGNX) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of REGENXBIO (NASDAQ:RGNX) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

RGNX has been the subject of several other reports. Chardan Capital reaffirmed a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research report on Wednesday, November 20th. Raymond James began coverage on REGENXBIO in a research note on Friday, February 7th. They set an “outperform” rating and a $27.00 price target for the company. The Goldman Sachs Group cut shares of REGENXBIO from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $38.00 to $14.00 in a research report on Tuesday, February 11th. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price target on shares of REGENXBIO in a report on Wednesday, January 15th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $22.00 price objective on shares of REGENXBIO in a research note on Friday, November 15th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.45.

REGENXBIO Price Performance

NASDAQ RGNX opened at $6.72 on Tuesday. The business has a fifty day moving average price of $7.63 and a two-hundred day moving average price of $9.52. REGENXBIO has a fifty-two week low of $6.44 and a fifty-two week high of $28.80. The stock has a market capitalization of $332.94 million, a PE ratio of -1.34 and a beta of 1.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. raised its stake in shares of 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 valued at $100,000 after acquiring an additional 3,720 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in REGENXBIO by 48.5% in the third quarter. Harbor Capital Advisors Inc. now owns 36,082 shares of the biotechnology company’s stock worth $379,000 after purchasing an additional 11,784 shares during the period. Sigma Planning Corp grew its holdings in REGENXBIO by 17.5% in the third quarter. Sigma Planning Corp now owns 38,210 shares of the biotechnology company’s stock worth $401,000 after purchasing an additional 5,701 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of REGENXBIO during the third quarter valued at approximately $643,000. Finally, Intech Investment Management LLC purchased a new stake in shares of REGENXBIO during the third quarter valued at approximately $161,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.