REGENXBIO (NASDAQ:RGNX) Earns Buy Rating from HC Wainwright

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $36.00 target price on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 403.50% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a report on Wednesday, November 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 price objective on shares of REGENXBIO in a research report on Friday, November 15th. Raymond James reissued an “outperform” rating and issued a $18.00 target price on shares of REGENXBIO in a report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of REGENXBIO in a report on Wednesday, December 11th. Finally, StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, REGENXBIO currently has an average rating of “Moderate Buy” and an average target price of $35.27.

REGENXBIO Price Performance

Shares of REGENXBIO stock opened at $7.15 on Wednesday. The firm’s fifty day simple moving average is $8.79 and its 200-day simple moving average is $10.51. REGENXBIO has a 12 month low of $6.56 and a 12 month high of $28.80. The stock has a market capitalization of $354.25 million, a price-to-earnings ratio of -1.42 and a beta of 1.28.

Institutional Trading of REGENXBIO

Several institutional investors and hedge funds have recently modified their holdings of RGNX. Redmile Group LLC increased its position in REGENXBIO by 7.1% during the 3rd quarter. Redmile Group LLC now owns 4,892,902 shares of the biotechnology company’s stock worth $51,327,000 after purchasing an additional 323,100 shares in the last quarter. Geode Capital Management LLC raised its holdings in REGENXBIO by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,088,651 shares of the biotechnology company’s stock valued at $11,422,000 after acquiring an additional 44,037 shares during the last quarter. Integral Health Asset Management LLC lifted its stake in shares of REGENXBIO by 25.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company’s stock worth $11,115,000 after purchasing an additional 190,000 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of REGENXBIO by 53.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company’s stock worth $6,621,000 after purchasing an additional 296,700 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of REGENXBIO by 9.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 417,739 shares of the biotechnology company’s stock valued at $4,382,000 after purchasing an additional 37,055 shares during the period. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.