HC Wainwright Has Lowered Expectations for REGENXBIO (NASDAQ:RGNX) Stock Price

REGENXBIO (NASDAQ:RGNX) had its price objective decreased by investment analysts at HC Wainwright from $40.00 to $36.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 275.39% from the stock’s previous close.

A number of other research analysts have also recently commented on RGNX. Raymond James reissued an “outperform” rating and issued a $18.00 target price on shares of REGENXBIO in a research note on Thursday, October 10th. Barclays decreased their price objective on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Chardan Capital reiterated a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a research report on Wednesday. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 target price on shares of REGENXBIO in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, REGENXBIO currently has a consensus rating of “Moderate Buy” and an average price target of $35.27.

REGENXBIO Price Performance

RGNX stock opened at $9.59 on Thursday. The firm has a 50 day simple moving average of $10.31 and a two-hundred day simple moving average of $12.12. The stock has a market cap of $475.14 million, a PE ratio of -1.91 and a beta of 1.23. REGENXBIO has a one year low of $8.53 and a one year high of $28.80.

Insider Activity

In other news, Director Argeris N. Karabelas sold 10,000 shares of the business’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 transaction of $101,100.00. Following the transaction, the director now directly owns 11,286 shares of the company’s stock, valued at approximately $114,101.46. The trade was a 46.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

Several large investors have recently added to or reduced their stakes in the stock. Redmile Group LLC raised its holdings in REGENXBIO by 21.0% in the 1st quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company’s stock worth $95,901,000 after purchasing an additional 790,866 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in REGENXBIO by 258.7% in the second quarter. Assenagon Asset Management S.A. now owns 816,384 shares of the biotechnology company’s stock worth $9,552,000 after buying an additional 588,773 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of REGENXBIO by 9.8% during the first quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company’s stock valued at $102,756,000 after purchasing an additional 436,043 shares in the last quarter. Artal Group S.A. purchased a new stake in REGENXBIO in the first quarter worth $5,268,000. Finally, Integral Health Asset Management LLC raised its holdings in REGENXBIO by 25.0% in the second quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company’s stock worth $11,115,000 after purchasing an additional 190,000 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

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.