REGENXBIO’s (RGNX) Overweight Rating Reaffirmed at Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of REGENXBIO (NASDAQ:RGNX) in a research note released on Friday morning, Marketbeat reports. The firm currently has a $22.00 target price on the biotechnology company’s stock.

A number of other equities analysts have also recently commented on RGNX. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Barclays dropped their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Raymond James reissued an “outperform” rating and set a $18.00 price target on shares of REGENXBIO in a research report on Thursday, October 10th. Chardan Capital reiterated a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a research report on Tuesday, October 22nd. Finally, HC Wainwright boosted their price objective on shares of REGENXBIO from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, REGENXBIO has a consensus rating of “Moderate Buy” and a consensus price target of $35.64.

REGENXBIO Stock Performance

REGENXBIO stock opened at $10.15 on Friday. The stock has a market cap of $502.88 million, a P/E ratio of -2.02 and a beta of 1.23. The firm’s fifty day moving average price is $10.47 and its 200-day moving average price is $12.21. REGENXBIO has a fifty-two week low of $8.53 and a fifty-two week high of $28.80.

Insiders Place Their Bets

In other news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total transaction of $101,100.00. Following the sale, the director now 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RGNX. ProShare Advisors LLC boosted its holdings in REGENXBIO by 8.3% in the first quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock worth $240,000 after purchasing an additional 874 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of REGENXBIO by 7.2% in the second quarter. Maryland State Retirement & Pension System now owns 15,800 shares of the biotechnology company’s stock worth $185,000 after acquiring an additional 1,067 shares during the period. Amalgamated Bank boosted its stake in REGENXBIO by 9.9% in the 2nd quarter. Amalgamated Bank now owns 13,613 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 1,227 shares during the period. Price T Rowe Associates Inc. MD grew its stake in 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 valued at $383,000 after acquiring an additional 1,438 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of REGENXBIO by 166.8% during the 3rd 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 last quarter. Hedge funds and other 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.