Analysts Set REGENXBIO Inc. (NASDAQ:RGNX) Price Target at $35.27

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $35.27.

A number of analysts have recently issued reports on RGNX shares. Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 target price on shares of REGENXBIO in a research report on Friday, November 15th. Raymond James restated an “outperform” rating and set a $18.00 price objective on shares of REGENXBIO in a report on Thursday, October 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of REGENXBIO in a research note on Wednesday. Chardan Capital reissued a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a research report on Wednesday, November 20th. Finally, StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th.

Insider Activity at REGENXBIO

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total value of $101,100.00. Following the sale, the director now directly owns 11,286 shares of the company’s stock, valued at $114,101.46. This trade represents a 46.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Several hedge funds and other institutional investors have recently modified their holdings of RGNX. Maryland State Retirement & Pension System lifted its position in REGENXBIO by 7.2% in the 2nd quarter. Maryland State Retirement & Pension System now owns 15,800 shares of the biotechnology company’s stock valued at $185,000 after purchasing an additional 1,067 shares during the last quarter. Amalgamated Bank raised its holdings in shares of REGENXBIO by 9.9% during the second quarter. Amalgamated Bank now owns 13,613 shares of the biotechnology company’s stock valued at $159,000 after buying an additional 1,227 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of REGENXBIO by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock worth $383,000 after buying an additional 1,438 shares during the period. FMR LLC boosted its position in shares of REGENXBIO by 166.8% during the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after buying an additional 1,656 shares during the period. Finally, Arizona State Retirement System grew its holdings in REGENXBIO by 20.6% in the 2nd quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock worth $137,000 after buying an additional 1,997 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Price Performance

REGENXBIO stock opened at $8.28 on Thursday. The firm’s fifty day moving average price is $9.74 and its 200 day moving average price is $11.39. The company has a market capitalization of $410.19 million, a price-to-earnings ratio of -1.65 and a beta of 1.24. REGENXBIO has a 12-month low of $8.26 and a 12-month high of $28.80.

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.