REGENXBIO (NASDAQ:RGNX) Given New $24.00 Price Target at Morgan Stanley

REGENXBIO (NASDAQ:RGNX) had its price target raised by Morgan Stanley from $22.00 to $24.00 in a report issued on Friday,Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

Several other research firms have also recently issued reports on RGNX. The Goldman Sachs Group cut shares of REGENXBIO from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $38.00 to $14.00 in a research report on Tuesday, February 11th. HC Wainwright reissued a “buy” rating and issued a $36.00 price objective on shares of REGENXBIO in a research report on Wednesday, January 15th. Chardan Capital reissued a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a research report on Friday. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Raymond James began coverage on shares of REGENXBIO in a research report on Friday, February 7th. They issued an “outperform” rating and a $27.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.13.

REGENXBIO Trading Up 2.6 %

Shares of NASDAQ:RGNX opened at $6.72 on Friday. The company has a market capitalization of $332.94 million, a price-to-earnings ratio of -1.34 and a beta of 1.35. REGENXBIO has a 12 month low of $5.62 and a 12 month high of $23.14. The firm’s 50-day moving average is $7.34 and its 200 day moving average is $9.08.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) EPS for the quarter, beating the consensus estimate of ($1.27) by $0.26. The company had revenue of $21.21 million for the quarter, compared to the consensus estimate of $23.70 million. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. As a group, equities analysts forecast that REGENXBIO will post -4.84 EPS for the current fiscal year.

Institutional Investors Weigh In On REGENXBIO

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in REGENXBIO by 273.1% during the fourth quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 2,510 shares during the last quarter. FMR LLC lifted its position in REGENXBIO by 166.8% during the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 1,656 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in REGENXBIO during the fourth quarter valued at approximately $54,000. Dynamic Technology Lab Private Ltd purchased a new stake in REGENXBIO during the fourth quarter valued at approximately $79,000. Finally, Laurion Capital Management LP purchased a new stake in REGENXBIO during the fourth quarter valued at approximately $79,000. Hedge funds and other institutional investors 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.