Raymond James Initiates Coverage on REGENXBIO (NASDAQ:RGNX)

Raymond James began coverage on shares of REGENXBIO (NASDAQ:RGNX) in a research note issued on Friday. The firm set an “outperform” rating and a $27.00 price target on the biotechnology company’s stock. Raymond James’ price objective indicates a potential upside of 225.26% from the stock’s previous close.

RGNX has been the topic of several other research reports. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 price objective on shares of REGENXBIO in a report on Tuesday, January 21st. StockNews.com lowered shares of REGENXBIO from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. Morgan Stanley reiterated an “overweight” rating and set a $22.00 price target on shares of REGENXBIO in a report on Friday, November 15th. HC Wainwright restated a “buy” rating and issued a $36.00 price objective on shares of REGENXBIO in a report on Wednesday, January 15th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.64.

REGENXBIO Price Performance

NASDAQ:RGNX traded down $0.13 during mid-day trading on Friday, reaching $8.30. The stock had a trading volume of 126,268 shares, compared to its average volume of 1,036,491. The stock has a 50-day simple moving average of $8.11 and a two-hundred day simple moving average of $10.10. REGENXBIO has a 12 month low of $6.56 and a 12 month high of $28.80. The stock has a market capitalization of $411.23 million, a PE ratio of -1.65 and a beta of 1.29.

Hedge Funds Weigh In On REGENXBIO

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC raised its position in REGENXBIO by 141.3% in the 3rd quarter. Barclays PLC now owns 116,024 shares of the biotechnology company’s stock worth $1,217,000 after buying an additional 67,948 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of REGENXBIO by 53.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company’s stock worth $6,621,000 after acquiring an additional 296,700 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of REGENXBIO by 602.9% during the third quarter. BNP Paribas Financial Markets now owns 20,441 shares of the biotechnology company’s stock valued at $214,000 after purchasing an additional 17,533 shares during the last quarter. FMR LLC lifted its position in REGENXBIO by 166.8% during the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,656 shares during the period. Finally, Stifel Financial Corp grew its position in REGENXBIO by 13.3% in the 3rd quarter. Stifel Financial Corp now owns 149,280 shares of the biotechnology company’s stock worth $1,566,000 after purchasing an additional 17,563 shares during the period. 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.