REGENXBIO (NASDAQ:RGNX) Shares Up 9.2% – Here’s Why

REGENXBIO Inc. (NASDAQ:RGNX) was up 9.2% on Monday . The stock traded as high as $10.52 and last traded at $10.46. Approximately 460,938 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 634,509 shares. The stock had previously closed at $9.58.

Analysts Set New Price Targets

Several equities analysts recently commented on RGNX shares. HC Wainwright cut their target price on REGENXBIO from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Chardan Capital reaffirmed a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Wednesday, November 20th. Raymond James reiterated an “outperform” rating and issued a $18.00 target price on shares of REGENXBIO in a research note on Thursday, October 10th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $22.00 price objective on shares of REGENXBIO in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.27.

REGENXBIO Stock Performance

The stock’s fifty day moving average price is $9.81 and its two-hundred day moving average price is $11.57. The company has a market cap of $498.37 million, a P/E ratio of -2.08 and a beta of 1.24.

Insider Activity at REGENXBIO

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total value of $101,100.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. 13.13% of the stock is currently owned by insiders.

Institutional Trading of REGENXBIO

A number of hedge funds have recently made changes to their positions in RGNX. Assenagon Asset Management S.A. lifted its stake in shares of REGENXBIO by 258.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 816,384 shares of the biotechnology company’s stock valued at $9,552,000 after purchasing an additional 588,773 shares during the period. Redmile Group LLC raised its position in REGENXBIO by 7.1% in 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 during the last quarter. Integral Health Asset Management LLC lifted its stake in REGENXBIO by 25.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company’s stock valued at $11,115,000 after acquiring an additional 190,000 shares in the last quarter. Millennium Management LLC grew its stake in shares of REGENXBIO by 84.8% in the 2nd 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 in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of REGENXBIO by 630.9% in the second quarter. Squarepoint Ops LLC now owns 146,259 shares of the biotechnology company’s stock valued at $1,711,000 after purchasing an additional 126,249 shares during the last quarter. 88.08% of the stock is 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.