REGENXBIO’s (RGNX) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reiterated their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research report released on Wednesday,Benzinga reports. Chardan Capital currently has a $52.00 price target on the biotechnology company’s stock.

RGNX has been the topic of several other reports. Raymond James reaffirmed an “outperform” rating and set a $18.00 price objective on shares of REGENXBIO in a research report on Thursday, October 10th. Barclays reduced their price target on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Morgan Stanley reissued an “overweight” rating and set a $22.00 price objective on shares of REGENXBIO in a report on Friday, November 15th. HC Wainwright raised their target price on shares of REGENXBIO from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.27.

REGENXBIO Stock Performance

Shares of NASDAQ RGNX opened at $9.59 on Wednesday. REGENXBIO has a 52-week low of $8.53 and a 52-week high of $28.80. The company has a market cap of $475.14 million, a PE ratio of -1.91 and a beta of 1.23. The firm’s 50 day moving average price is $10.31 and its 200-day moving average price is $12.12.

Insider Activity

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total transaction of $101,100.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

Several institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC raised its stake in shares of 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 acquiring an additional 874 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of REGENXBIO by 7.2% during the second quarter. Maryland State Retirement & Pension System now owns 15,800 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 1,067 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of REGENXBIO by 9.9% in the 2nd quarter. Amalgamated Bank now owns 13,613 shares of the biotechnology company’s stock valued at $159,000 after purchasing an additional 1,227 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in REGENXBIO by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock worth $383,000 after buying an additional 1,438 shares during the period. Finally, FMR LLC lifted its stake in REGENXBIO by 166.8% in the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 1,656 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.