REGENXBIO (NASDAQ:RGNX) Earns “Buy” Rating from Chardan Capital

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating reaffirmed by stock analysts at Chardan Capital in a note issued to investors on Wednesday,Benzinga reports. They presently have a $52.00 price target on the biotechnology company’s stock. Chardan Capital’s price target would suggest a potential upside of 443.93% from the stock’s current price.

Several other brokerages have also recently commented on RGNX. Barclays reduced their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. HC Wainwright raised their target price on REGENXBIO from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley reissued an “overweight” rating and issued a $22.00 target price on shares of REGENXBIO in a report on Friday, November 15th. Finally, Raymond James restated an “outperform” rating and issued a $18.00 price objective on shares of REGENXBIO in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.64.

REGENXBIO Stock Down 5.8 %

Shares of RGNX opened at $9.56 on Wednesday. The stock’s 50-day moving average price is $10.43 and its 200 day moving average price is $12.16. REGENXBIO has a 12-month low of $8.53 and a 12-month high of $28.80. The firm has a market capitalization of $473.60 million, a price-to-earnings ratio of -1.90 and a beta of 1.23.

Insider Buying and Selling

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction dated 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 directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.13% of the stock is owned by insiders.

Institutional Investors Weigh In On REGENXBIO

Several large investors have recently made changes to their positions in RGNX. Redmile Group LLC boosted its stake in REGENXBIO by 7.1% in 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 during the period. Vanguard Group Inc. boosted its position in shares of REGENXBIO by 9.8% during the first quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company’s stock worth $102,756,000 after buying an additional 436,043 shares during the period. Geode Capital Management LLC grew its holdings in shares of REGENXBIO by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,088,651 shares of the biotechnology company’s stock worth $11,422,000 after buying an additional 44,037 shares in the last quarter. Integral Health Asset Management LLC raised its position in REGENXBIO by 25.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company’s stock valued at $11,115,000 after buying an additional 190,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in REGENXBIO by 258.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 816,384 shares of the biotechnology company’s stock valued at $9,552,000 after acquiring an additional 588,773 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

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.