Raymond James Initiates Coverage on REGENXBIO (NASDAQ:RGNX)

Raymond James assumed coverage on shares of REGENXBIO (NASDAQ:RGNX) in a research note issued to investors on Friday morning. The firm issued an outperform rating and a $27.00 price target on the biotechnology company’s stock.

A number of other analysts have also commented on the company. StockNews.com lowered REGENXBIO from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. Chardan Capital reiterated a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a report on Wednesday, November 20th. HC Wainwright restated a “buy” rating and issued a $36.00 target price on shares of REGENXBIO in a research note on Wednesday, January 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $30.00 price target on shares of REGENXBIO in a research note on Tuesday, January 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $22.00 price objective on shares of REGENXBIO in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.64.

REGENXBIO Stock Down 2.6 %

RGNX stock opened at $8.21 on Friday. The stock’s 50 day moving average is $8.08 and its 200-day moving average is $10.02. The firm has a market capitalization of $406.72 million, a PE ratio of -1.63 and a beta of 1.29. REGENXBIO has a twelve month low of $6.56 and a twelve month high of $28.80.

Institutional Trading of REGENXBIO

Institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP bought a new stake in shares of REGENXBIO during the 2nd quarter worth $457,000. AQR Capital Management LLC purchased a new stake in REGENXBIO during the second quarter valued at about $238,000. Millennium Management LLC raised its position in REGENXBIO by 84.8% during the second quarter. Millennium Management LLC now owns 306,487 shares of the biotechnology company’s stock valued at $3,586,000 after purchasing an additional 140,666 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in REGENXBIO by 19.6% during the second quarter. The Manufacturers Life Insurance Company now owns 18,375 shares of the biotechnology company’s stock valued at $215,000 after purchasing an additional 3,015 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in REGENXBIO during the third quarter valued at about $146,000. Hedge funds and other 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.