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

Chardan Capital reiterated their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research note published on Thursday,Benzinga reports. The firm currently has a $52.00 target price on the biotechnology company’s stock.

Other analysts also recently issued research reports about the company. HC Wainwright cut their price target on REGENXBIO from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, March 17th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley raised their price target on REGENXBIO from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price target on shares of REGENXBIO in a report on Tuesday, January 21st. Finally, Raymond James initiated coverage on REGENXBIO in a research report on Friday, February 7th. They issued an “outperform” rating and a $27.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, REGENXBIO currently has an average rating of “Moderate Buy” and an average target price of $33.88.

REGENXBIO Stock Down 1.4 %

Shares of NASDAQ RGNX opened at $8.24 on Thursday. The stock’s 50 day moving average price is $7.30 and its two-hundred day moving average price is $8.88. REGENXBIO has a 52-week low of $5.62 and a 52-week high of $22.42. The stock has a market capitalization of $408.25 million, a P/E ratio of -1.64 and a beta of 1.35.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings data on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.27) by $0.26. The firm 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%. On average, analysts anticipate that REGENXBIO will post -4.84 EPS for the current year.

Hedge Funds Weigh In On REGENXBIO

Several hedge funds have recently modified their holdings of the company. Redmile Group LLC increased its position in shares of REGENXBIO by 7.1% during the 3rd quarter. Redmile Group LLC now owns 4,892,902 shares of the biotechnology company’s stock valued at $51,327,000 after purchasing an additional 323,100 shares during the period. JPMorgan Chase & Co. increased its position in shares of REGENXBIO by 67.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company’s stock valued at $31,975,000 after purchasing an additional 1,659,206 shares during the period. Millennium Management LLC grew its holdings in shares of REGENXBIO by 406.3% in the 4th quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company’s stock worth $10,222,000 after acquiring an additional 1,061,187 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of REGENXBIO by 6.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,187,102 shares of the biotechnology company’s stock worth $9,176,000 after acquiring an additional 66,993 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of REGENXBIO by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,171,422 shares of the biotechnology company’s stock worth $9,054,000 after acquiring an additional 21,234 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.