REGENXBIO’s (RGNX) Overweight Rating Reaffirmed at Morgan Stanley

REGENXBIO (NASDAQ:RGNX)‘s stock had its “overweight” rating reiterated by equities researchers at Morgan Stanley in a research report issued on Friday,Benzinga reports. They presently have a $22.00 price target on the biotechnology company’s stock. Morgan Stanley’s price objective points to a potential upside of 97.49% from the stock’s previous close.

A number of other analysts also recently commented on the stock. HC Wainwright boosted 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. Barclays decreased their price target on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Chardan Capital reiterated a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research report on Tuesday, October 22nd. Raymond James reaffirmed an “outperform” rating and set a $18.00 target price on shares of REGENXBIO in a research report on Thursday, October 10th. Finally, StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.64.

REGENXBIO Stock Up 4.4 %

Shares of RGNX stock opened at $11.14 on Friday. The stock has a 50-day simple moving average of $10.54 and a 200 day simple moving average of $12.35. REGENXBIO has a fifty-two week low of $8.53 and a fifty-two week high of $28.80. The stock has a market capitalization of $551.88 million, a P/E ratio of -2.21 and a beta of 1.23.

Insider Buying and Selling at REGENXBIO

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $11.56, for a total value of $115,600.00. Following the completion of the sale, the director now owns 11,286 shares in the company, valued at $130,466.16. This represents a 46.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC grew its stake in shares of REGENXBIO by 8.3% in the 1st quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock valued at $240,000 after buying an additional 874 shares in the last quarter. Maryland State Retirement & Pension System grew its position in REGENXBIO by 7.2% in the second quarter. Maryland State Retirement & Pension System now owns 15,800 shares of the biotechnology company’s stock worth $185,000 after acquiring an additional 1,067 shares in the last quarter. Amalgamated Bank increased its stake in shares of REGENXBIO by 9.9% during the 2nd quarter. Amalgamated Bank now owns 13,613 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 1,227 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of REGENXBIO by 8.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock valued at $383,000 after purchasing an additional 1,438 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of REGENXBIO by 166.8% during the 3rd quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,656 shares in the last quarter. 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.