REGENXBIO’s (RGNX) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital restated their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research note published on Friday morning,Benzinga reports. They currently have a $52.00 target price on the biotechnology company’s stock.

RGNX has been the subject of a number of other research reports. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of REGENXBIO in a research report on Wednesday, January 15th. The Goldman Sachs Group lowered REGENXBIO from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $38.00 to $14.00 in a report on Tuesday, February 11th. Morgan Stanley restated an “overweight” rating and issued a $22.00 target price on shares of REGENXBIO in a research note on Friday, November 15th. Raymond James assumed coverage on REGENXBIO in a research note on Friday, February 7th. They set an “outperform” rating and a $27.00 price target for the company. Finally, StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.13.

REGENXBIO Stock Up 2.6 %

Shares of REGENXBIO stock opened at $6.72 on Friday. The stock has a market cap of $332.94 million, a PE 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 business has a fifty day simple moving average of $7.31 and a 200-day simple moving average of $9.00.

REGENXBIO (NASDAQ:RGNX) last released its earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share 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 analysts’ expectations of $23.70 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. Analysts expect that REGENXBIO will post -4.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Alpine Global Management LLC acquired a new position in REGENXBIO during the fourth quarter valued at approximately $175,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of REGENXBIO by 9.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,183 shares of the biotechnology company’s stock worth $558,000 after buying an additional 6,105 shares during the period. Two Sigma Advisers LP grew its stake in REGENXBIO by 164.7% in the 4th quarter. Two Sigma Advisers LP now owns 180,000 shares of the biotechnology company’s stock valued at $1,391,000 after buying an additional 112,000 shares during the last quarter. Two Sigma Investments LP raised its holdings in REGENXBIO by 209.2% in the 4th quarter. Two Sigma Investments LP now owns 389,428 shares of the biotechnology company’s stock worth $3,010,000 after acquiring an additional 263,495 shares during the period. Finally, Rafferty Asset Management LLC lifted its position in REGENXBIO by 22.4% during the 4th quarter. Rafferty Asset Management LLC now owns 93,821 shares of the biotechnology company’s stock worth $725,000 after acquiring an additional 17,180 shares during the last quarter. 88.08% of the stock is 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.