REGENXBIO’s (RGNX) Overweight Rating Reiterated at Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of REGENXBIO (NASDAQ:RGNX) in a research note published on Friday, Marketbeat Ratings reports. They currently have a $22.00 target price on the biotechnology company’s stock.

Other research analysts have also issued research reports about the stock. Barclays reduced their price objective on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. HC Wainwright boosted their target price on shares of REGENXBIO from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Chardan Capital reissued a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research report on Tuesday, October 22nd. Finally, Raymond James reissued an “outperform” rating and set a $18.00 target price on shares of REGENXBIO in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, REGENXBIO presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.64.

REGENXBIO Stock Down 13.6 %

NASDAQ RGNX opened at $9.63 on Friday. The firm has a market cap of $477.12 million, a PE ratio of -1.91 and a beta of 1.23. The company has a 50 day moving average price of $10.50 and a 200 day moving average price of $12.26. REGENXBIO has a 52 week low of $8.53 and a 52 week high of $28.80.

Insider Activity

In related news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total transaction of $101,100.00. Following the sale, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $114,101.46. This 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 hyperlink. Insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

A number of hedge funds have recently added to or reduced their stakes in RGNX. Allspring Global Investments Holdings LLC purchased a new stake in REGENXBIO during the first quarter worth $56,000. Janney Montgomery Scott LLC acquired a new position in REGENXBIO during the first quarter worth $304,000. Swiss National Bank raised its position in REGENXBIO by 4.5% during the first quarter. Swiss National Bank now owns 81,500 shares of the biotechnology company’s stock worth $1,717,000 after acquiring an additional 3,500 shares during the period. ProShare Advisors LLC raised its position in REGENXBIO by 8.3% during the first quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock worth $240,000 after acquiring an additional 874 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in REGENXBIO by 33.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 15,485 shares of the biotechnology company’s stock worth $326,000 after acquiring an additional 3,870 shares during the period. 88.08% of the stock is owned by hedge funds and other 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.