Chardan Capital Reiterates Buy Rating for REGENXBIO (NASDAQ:RGNX)

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating reaffirmed by equities researchers at Chardan Capital in a note issued to investors on Friday,Benzinga reports. They presently have a $52.00 price target on the biotechnology company’s stock.

A number of other research analysts have also recently issued reports on the stock. Raymond James began coverage on shares of REGENXBIO in a report on Friday, February 7th. They set an “outperform” rating and a $27.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $30.00 price objective on shares of REGENXBIO in a report on Tuesday, January 21st. HC Wainwright restated a “buy” rating and set a $36.00 price objective on shares of REGENXBIO in a report on Wednesday, January 15th. The Goldman Sachs Group cut shares of REGENXBIO from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $38.00 to $14.00 in a report on Tuesday, February 11th. Finally, StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.13.

REGENXBIO Price Performance

Shares of NASDAQ:RGNX opened at $6.72 on Friday. REGENXBIO has a one year low of $5.62 and a one year high of $23.14. The company has a 50 day moving average of $7.31 and a 200-day moving average of $9.02. The stock has a market cap of $332.94 million, a price-to-earnings ratio of -1.34 and a beta of 1.35.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) EPS for the quarter, topping the consensus estimate of ($1.27) by $0.26. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. The company had revenue of $21.21 million during the quarter, compared to analysts’ expectations of $23.70 million. Equities research analysts anticipate that REGENXBIO will post -4.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of REGENXBIO by 166.8% in the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 1,656 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of REGENXBIO by 9.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,910 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 1,982 shares during the period. Teacher Retirement System of Texas lifted its position in shares of REGENXBIO by 19.9% in the fourth quarter. Teacher Retirement System of Texas now owns 12,590 shares of the biotechnology company’s stock worth $97,000 after purchasing an additional 2,088 shares in the last quarter. DnB Asset Management AS lifted its position in shares of REGENXBIO by 20.1% in the fourth quarter. DnB Asset Management AS now owns 14,539 shares of the biotechnology company’s stock worth $112,000 after purchasing an additional 2,434 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of REGENXBIO by 273.1% in the fourth quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 2,510 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.