REGENXBIO (NASDAQ:RGNX) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of REGENXBIO (NASDAQ:RGNX) in a report released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $35.00 target price on the biotechnology company’s stock.

Other equities research analysts also recently issued research reports about the stock. Chardan Capital reiterated a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research report on Wednesday, November 20th. HC Wainwright cut their price objective on REGENXBIO from $40.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, November 21st. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Morgan Stanley reiterated an “overweight” rating and set a $22.00 price target 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 report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.27.

REGENXBIO Price Performance

Shares of RGNX opened at $8.28 on Wednesday. The business’s 50-day moving average is $9.74 and its 200-day moving average is $11.42. 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 fifty-two week low of $8.26 and a fifty-two week high of $28.80.

Insider Transactions at REGENXBIO

In other news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s 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 sale, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $114,101.46. This trade represents a 46.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.13% of the stock is owned by corporate insiders.

Institutional Trading of REGENXBIO

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings 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 last quarter. nVerses Capital LLC raised its stake in REGENXBIO by 183.3% during the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 2,200 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in REGENXBIO by 64.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,506 shares of the biotechnology company’s stock valued at $100,000 after purchasing an additional 3,720 shares during the period. Diversified Trust Co acquired a new stake in REGENXBIO in the 2nd quarter worth $121,000. Finally, Arizona State Retirement System increased its holdings in shares of REGENXBIO by 20.6% during the 2nd quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 1,997 shares during the period. 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.