HC Wainwright Issues Pessimistic Forecast for REGENXBIO (NASDAQ:RGNX) Stock Price

REGENXBIO (NASDAQ:RGNX) had its price target dropped by analysts at HC Wainwright from $40.00 to $36.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 273.83% from the company’s previous close.

RGNX has been the subject of several other research reports. Morgan Stanley reissued an “overweight” rating and issued a $22.00 price target on shares of REGENXBIO in a research note on Friday, November 15th. StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Raymond James restated an “outperform” rating and issued a $18.00 price target on shares of REGENXBIO in a research report on Thursday, October 10th. Chardan Capital reiterated a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research report on Wednesday. Finally, Barclays dropped their target price on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.27.

REGENXBIO Price Performance

REGENXBIO stock opened at $9.63 on Thursday. The business has a 50 day moving average of $10.37 and a 200-day moving average of $12.14. The company has a market capitalization of $477.07 million, a P/E ratio of -1.91 and a beta of 1.23. REGENXBIO has a 1 year low of $8.53 and a 1 year high of $28.80.

Insider Activity

In other news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total value of $101,100.00. Following the transaction, the director now owns 11,286 shares in the company, valued at $114,101.46. This trade represents a 46.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of REGENXBIO by 141.3% in the third quarter. Barclays PLC now owns 116,024 shares of the biotechnology company’s stock valued at $1,217,000 after acquiring an additional 67,948 shares in the last quarter. Geode Capital Management LLC increased its position in shares of REGENXBIO by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,088,651 shares of the biotechnology company’s stock valued at $11,422,000 after purchasing an additional 44,037 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of REGENXBIO in the third quarter worth about $713,000. Stifel Financial Corp raised its position in shares of REGENXBIO by 13.3% in the third quarter. Stifel Financial Corp now owns 149,280 shares of the biotechnology company’s stock valued at $1,566,000 after purchasing an additional 17,563 shares during the period. Finally, Redmile Group LLC lifted its stake in shares of REGENXBIO by 7.1% during the 3rd quarter. Redmile Group LLC now owns 4,892,902 shares of the biotechnology company’s stock valued at $51,327,000 after buying an additional 323,100 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.