The Goldman Sachs Group Downgrades REGENXBIO (NASDAQ:RGNX) to Neutral

The Goldman Sachs Group downgraded shares of REGENXBIO (NASDAQ:RGNX) from a buy rating to a neutral rating in a research note published on Tuesday, MarketBeat Ratings reports. The brokerage currently has $14.00 price target on the biotechnology company’s stock, down from their previous price target of $38.00.

RGNX has been the topic of several other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of REGENXBIO in a research report on Tuesday, January 21st. HC Wainwright reaffirmed a “buy” rating and set a $36.00 target price on shares of REGENXBIO in a research report on Wednesday, January 15th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. 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. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 target price on shares of REGENXBIO in a research report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, REGENXBIO presently has a consensus rating of “Moderate Buy” and an average target price of $33.45.

REGENXBIO Stock Up 1.7 %

Shares of NASDAQ:RGNX opened at $7.32 on Tuesday. REGENXBIO has a 52-week low of $6.56 and a 52-week high of $28.80. The stock has a market cap of $362.63 million, a P/E ratio of -1.46 and a beta of 1.29. The business’s 50 day moving average is $7.96 and its 200 day moving average is $9.91.

Institutional Trading of REGENXBIO

A number of institutional investors have recently made changes to their positions in RGNX. Barclays PLC raised its stake in REGENXBIO by 141.3% in the 3rd quarter. Barclays PLC now owns 116,024 shares of the biotechnology company’s stock worth $1,217,000 after acquiring an additional 67,948 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in REGENXBIO by 53.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company’s stock worth $6,621,000 after acquiring an additional 296,700 shares during the last quarter. BNP Paribas Financial Markets raised its stake in REGENXBIO by 602.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,441 shares of the biotechnology company’s stock worth $214,000 after acquiring an additional 17,533 shares during the last quarter. FMR LLC raised its stake in REGENXBIO by 166.8% in the 3rd quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 1,656 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in REGENXBIO by 13.3% in the 3rd quarter. Stifel Financial Corp now owns 149,280 shares of the biotechnology company’s stock worth $1,566,000 after acquiring an additional 17,563 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.