REGENXBIO (NASDAQ:RGNX) Earns “Buy” Rating from Chardan Capital

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating reissued by equities researchers at Chardan Capital in a report issued on Wednesday,Benzinga reports. They presently have a $52.00 target price on the biotechnology company’s stock. Chardan Capital’s target price indicates a potential upside of 466.45% from the stock’s current price.

A number of other research firms have also commented on RGNX. Morgan Stanley reiterated an “overweight” rating and issued a $22.00 price target on shares of REGENXBIO in a research report on Friday, November 15th. HC Wainwright upped their target price on REGENXBIO from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Raymond James restated an “outperform” rating and set a $18.00 price target on shares of REGENXBIO in a report on Thursday, October 10th. Barclays reduced their price objective on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, REGENXBIO presently has a consensus rating of “Moderate Buy” and an average target price of $35.27.

REGENXBIO Stock Performance

NASDAQ RGNX opened at $9.18 on Wednesday. The firm’s fifty day moving average price is $10.37 and its two-hundred day moving average price is $12.14. The stock has a market cap of $454.82 million, a PE ratio of -1.83 and a beta of 1.23. REGENXBIO has a fifty-two week low of $8.53 and a fifty-two week high of $28.80.

Insider Activity

In other news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction dated 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 directly owns 11,286 shares of the company’s stock, valued at approximately $114,101.46. This trade represents a 46.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

A number of institutional investors have recently modified their holdings of the company. ProShare Advisors LLC increased its position in REGENXBIO by 8.3% during the 1st quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock valued at $240,000 after purchasing an additional 874 shares during the period. Maryland State Retirement & Pension System increased its position 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 valued at $185,000 after buying an additional 1,067 shares during the period. Amalgamated Bank raised its stake in REGENXBIO by 9.9% in the second quarter. Amalgamated Bank now owns 13,613 shares of the biotechnology company’s stock worth $159,000 after buying an additional 1,227 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in REGENXBIO by 8.6% in 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 holdings in REGENXBIO by 166.8% in the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after buying an additional 1,656 shares during the period. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.