REGENXBIO’s (RGNX) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of REGENXBIO (NASDAQ:RGNX) in a research note published on Wednesday,Benzinga reports. Royal Bank of Canada currently has a $35.00 target price on the biotechnology company’s stock.

Several other research firms have also weighed in on RGNX. Chardan Capital reiterated a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Wednesday, November 20th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. 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. HC Wainwright reduced their price target on shares of REGENXBIO from $40.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of REGENXBIO in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, REGENXBIO currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.27.

REGENXBIO Stock Performance

Shares of NASDAQ:RGNX opened at $8.28 on Wednesday. The company’s fifty day moving average is $9.74 and its two-hundred day moving average is $11.42. REGENXBIO has a 1-year low of $8.26 and a 1-year high of $28.80. The stock has a market capitalization of $410.19 million, a price-to-earnings ratio of -1.65 and a beta of 1.24.

Insider Activity at REGENXBIO

In other news, Director Argeris N. Karabelas sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total value of $101,100.00. Following the completion of the sale, the director now owns 11,286 shares in the company, valued at $114,101.46. This represents a 46.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Several hedge funds and other institutional investors have recently bought and sold shares of RGNX. Price T Rowe Associates Inc. MD grew its stake in shares of REGENXBIO by 8.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock worth $383,000 after purchasing an additional 1,438 shares during the last quarter. Diversified Trust Co acquired a new position in REGENXBIO in the second quarter worth approximately $121,000. Assenagon Asset Management S.A. increased its holdings in shares of REGENXBIO by 258.7% in the second quarter. Assenagon Asset Management S.A. now owns 816,384 shares of the biotechnology company’s stock valued at $9,552,000 after buying an additional 588,773 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of REGENXBIO by 26.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 134,190 shares of the biotechnology company’s stock valued at $1,570,000 after acquiring an additional 27,906 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of REGENXBIO by 14.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the biotechnology company’s stock worth $267,000 after acquiring an additional 2,800 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors.

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.