REGENXBIO (NASDAQ:RGNX) Rating Increased to Hold at StockNews.com

REGENXBIO (NASDAQ:RGNX) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

Several other research firms have also commented on RGNX. Chardan Capital reissued a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a research report on Wednesday, November 20th. Raymond James started coverage on REGENXBIO in a research note on Friday. They set an “outperform” rating and a $27.00 target price for the company. HC Wainwright restated a “buy” rating and set a $36.00 target price on shares of REGENXBIO in a research note on Wednesday, January 15th. Morgan Stanley restated an “overweight” rating and set a $22.00 target price on shares of REGENXBIO in a research note on Friday, November 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $30.00 target price on shares of REGENXBIO in a research note on Tuesday, January 21st. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.64.

REGENXBIO Trading Down 2.6 %

NASDAQ:RGNX traded down $0.22 during mid-day trading on Friday, hitting $8.21. The company had a trading volume of 539,571 shares, compared to its average volume of 1,054,836. The business has a fifty day simple moving average of $8.11 and a 200-day simple moving average of $10.10. REGENXBIO has a 1 year low of $6.56 and a 1 year high of $28.80. The firm has a market capitalization of $406.72 million, a price-to-earnings ratio of -1.63 and a beta of 1.29.

Hedge Funds Weigh In On REGENXBIO

A number of hedge funds have recently bought and sold shares of RGNX. Marshall Wace LLP acquired a new position in REGENXBIO in the second quarter worth about $457,000. AQR Capital Management LLC bought a new position in REGENXBIO in the second quarter worth about $238,000. Millennium Management LLC lifted its holdings in REGENXBIO by 84.8% in the second quarter. Millennium Management LLC now owns 306,487 shares of the biotechnology company’s stock worth $3,586,000 after acquiring an additional 140,666 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in REGENXBIO by 19.6% in the second quarter. The Manufacturers Life Insurance Company now owns 18,375 shares of the biotechnology company’s stock worth $215,000 after acquiring an additional 3,015 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in REGENXBIO in the third quarter worth about $146,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.