REGENXBIO Inc. (NASDAQ:RGNX) Receives $35.27 Average PT from Analysts

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $35.27.

A number of equities analysts have weighed in on the company. HC Wainwright decreased their target price on REGENXBIO from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of REGENXBIO in a report on Wednesday, December 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $22.00 target price on shares of REGENXBIO in a research report on Friday, November 15th. Chardan Capital reiterated a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research note on Wednesday, November 20th. Finally, StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th.

Institutional Trading of REGENXBIO

Several hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in shares of REGENXBIO by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 339,514 shares of the biotechnology company’s stock valued at $3,972,000 after buying an additional 28,846 shares in the last quarter. Principal Financial Group Inc. raised its stake in REGENXBIO by 4.3% during the 2nd quarter. Principal Financial Group Inc. now owns 225,417 shares of the biotechnology company’s stock worth $2,637,000 after acquiring an additional 9,206 shares during the period. Rhumbline Advisers lifted its holdings in REGENXBIO by 8.2% during the second quarter. Rhumbline Advisers now owns 118,526 shares of the biotechnology company’s stock valued at $1,387,000 after purchasing an additional 8,987 shares in the last quarter. Arizona State Retirement System boosted its position in shares of REGENXBIO by 20.6% in the second quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 1,997 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of REGENXBIO in the second quarter worth $494,000. Institutional investors own 88.08% of the company’s stock.

REGENXBIO Price Performance

RGNX stock opened at $7.51 on Monday. The stock has a market capitalization of $372.08 million, a P/E ratio of -1.49 and a beta of 1.28. REGENXBIO has a 1-year low of $7.14 and a 1-year high of $28.80. The business has a fifty day moving average price of $8.99 and a 200-day moving average price of $10.63.

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.