REGENXBIO Inc. (NASDAQ:RGNX) Receives $35.27 Average Price Target from Analysts

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $35.27.

Several research firms have commented on RGNX. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of REGENXBIO in a research report on Wednesday, December 11th. Morgan Stanley reissued an “overweight” rating and issued a $22.00 price objective on shares of REGENXBIO in a research note on Friday, November 15th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. HC Wainwright dropped their price target on shares of REGENXBIO from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, Chardan Capital reiterated a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research note on Wednesday, November 20th.

REGENXBIO Stock Down 9.4 %

Shares of RGNX opened at $7.51 on Monday. The firm has a market cap of $372.08 million, a price-to-earnings ratio of -1.49 and a beta of 1.28. The company’s fifty day moving average is $9.01 and its 200-day moving average is $10.68. REGENXBIO has a 12 month low of $7.14 and a 12 month high of $28.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Redmile Group LLC raised its stake in shares of 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 in the last quarter. Integral Health Asset Management LLC boosted its position in shares of 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 boosted its position in shares of REGENXBIO by 84.8% during the 2nd quarter. Millennium Management LLC now owns 306,487 shares of the biotechnology company’s stock valued at $3,586,000 after acquiring an additional 140,666 shares in the last quarter. Squarepoint Ops LLC raised its position in REGENXBIO by 630.9% in the second quarter. Squarepoint Ops LLC now owns 146,259 shares of the biotechnology company’s stock worth $1,711,000 after purchasing an additional 126,249 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in REGENXBIO by 73.4% in the second quarter. Cubist Systematic Strategies LLC now owns 188,235 shares of the biotechnology company’s stock worth $2,202,000 after purchasing an additional 79,655 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.