Raymond James Initiates Coverage on REGENXBIO (NASDAQ:RGNX)

Raymond James began coverage on shares of REGENXBIO (NASDAQ:RGNX) in a research note published on Friday. The brokerage issued an outperform rating and a $27.00 price target on the biotechnology company’s stock.

RGNX has been the subject of a number of other reports. StockNews.com lowered shares of REGENXBIO from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 price target on shares of REGENXBIO in a research report on Tuesday, January 21st. Morgan Stanley reiterated an “overweight” rating and set a $22.00 price objective on shares of REGENXBIO in a research note on Friday, November 15th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 target price on shares of REGENXBIO in a report on Wednesday, January 15th. Finally, Chardan Capital reiterated a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.64.

REGENXBIO Stock Down 2.6 %

Shares of NASDAQ:RGNX opened at $8.21 on Friday. The firm has a market capitalization of $406.72 million, a PE ratio of -1.63 and a beta of 1.29. The company has a 50-day moving average price of $8.11 and a two-hundred day moving average price of $10.10. REGENXBIO has a twelve month low of $6.56 and a twelve month high of $28.80.

Institutional Investors Weigh In On REGENXBIO

Several hedge funds have recently bought and sold shares of RGNX. Barclays PLC raised its position in shares of REGENXBIO by 141.3% during the 3rd quarter. Barclays PLC now owns 116,024 shares of the biotechnology company’s stock valued at $1,217,000 after buying an additional 67,948 shares in the last quarter. Assenagon Asset Management S.A. raised its position in REGENXBIO by 53.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company’s stock valued at $6,621,000 after purchasing an additional 296,700 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in REGENXBIO by 602.9% during the third quarter. BNP Paribas Financial Markets now owns 20,441 shares of the biotechnology company’s stock worth $214,000 after purchasing an additional 17,533 shares during the last quarter. FMR LLC lifted its stake in 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 purchasing an additional 1,656 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of REGENXBIO by 13.3% in the 3rd quarter. Stifel Financial Corp now owns 149,280 shares of the biotechnology company’s stock worth $1,566,000 after purchasing an additional 17,563 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors.

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.