StockNews.com Downgrades REGENXBIO (NASDAQ:RGNX) to Sell

REGENXBIO (NASDAQ:RGNX) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other research firms have also issued reports on RGNX. The Goldman Sachs Group lowered shares of REGENXBIO from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $38.00 to $14.00 in a report on Tuesday, February 11th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price objective on shares of REGENXBIO in a report on Wednesday, January 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 price objective on shares of REGENXBIO in a report on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 price objective on shares of REGENXBIO in a report on Tuesday, January 21st. Finally, Chardan Capital reaffirmed a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.45.

REGENXBIO Trading Down 0.3 %

REGENXBIO stock opened at $7.30 on Friday. The firm has a 50 day moving average of $7.88 and a 200 day moving average of $9.78. The firm has a market capitalization of $361.64 million, a price-to-earnings ratio of -1.45 and a beta of 1.29. REGENXBIO has a 12-month low of $6.56 and a 12-month high of $28.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in REGENXBIO by 67.0% in the fourth quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company’s stock worth $31,975,000 after buying an additional 1,659,206 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in REGENXBIO in the fourth quarter worth $3,865,000. Norges Bank bought a new stake in REGENXBIO in the fourth quarter worth $3,474,000. Voss Capital LP bought a new stake in REGENXBIO in the fourth quarter worth $2,573,000. Finally, Redmile Group LLC lifted its position in REGENXBIO by 7.1% in the third quarter. Redmile Group LLC now owns 4,892,902 shares of the biotechnology company’s stock worth $51,327,000 after buying an additional 323,100 shares during the last quarter. 88.08% of the stock is currently owned by 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.