REGENXBIO’s (RGNX) Buy Rating Reaffirmed at Chardan Capital

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating reiterated by research analysts at Chardan Capital in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $52.00 price objective on the biotechnology company’s stock.

A number of other equities analysts have also recently commented on the stock. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley reiterated an “overweight” rating and set a $22.00 target price on shares of REGENXBIO in a research report on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 target price on shares of REGENXBIO in a research note on Tuesday, January 21st. The Goldman Sachs Group downgraded REGENXBIO from a “buy” rating to a “neutral” rating and decreased their price target for the company from $38.00 to $14.00 in a research note on Tuesday, February 11th. Finally, HC Wainwright restated a “buy” rating and set a $36.00 target price on shares of REGENXBIO in a research report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.13.

REGENXBIO Stock Performance

Shares of RGNX stock opened at $6.55 on Friday. The stock has a market capitalization of $324.52 million, a P/E ratio of -1.30 and a beta of 1.35. REGENXBIO has a fifty-two week low of $5.62 and a fifty-two week high of $23.14. The company has a 50 day moving average price of $7.34 and a 200 day moving average price of $9.08.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $0.18. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. On average, research analysts forecast that REGENXBIO will post -4.84 EPS for the current fiscal year.

Institutional Trading of REGENXBIO

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in REGENXBIO by 67.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company’s stock worth $31,975,000 after purchasing an additional 1,659,206 shares in the last quarter. Millennium Management LLC boosted its position in REGENXBIO by 406.3% during the fourth quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company’s stock worth $10,222,000 after acquiring an additional 1,061,187 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in REGENXBIO in the 4th quarter worth approximately $3,865,000. Norges Bank acquired a new position in REGENXBIO in the 4th quarter valued at $3,474,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of REGENXBIO during the 4th quarter worth $2,793,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.