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

Chardan Capital reissued their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $52.00 price target on the biotechnology company’s stock.

Several other equities research analysts also recently weighed in on RGNX. HC Wainwright boosted their target price on shares of REGENXBIO from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Barclays reduced their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Morgan Stanley reiterated an “overweight” rating and issued a $22.00 price target on shares of REGENXBIO in a report on Friday, November 15th. Finally, Raymond James restated an “outperform” rating and set a $18.00 price objective on shares of REGENXBIO in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, REGENXBIO currently has an average rating of “Moderate Buy” and a consensus price target of $35.27.

REGENXBIO Trading Up 4.5 %

Shares of NASDAQ:RGNX opened at $9.59 on Wednesday. The firm has a market cap of $475.09 million, a PE ratio of -1.91 and a beta of 1.23. The company has a fifty day simple moving average of $10.24 and a 200 day simple moving average of $12.07. REGENXBIO has a 12-month low of $8.53 and a 12-month high of $28.80.

Insiders Place Their Bets

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $11.56, for a total transaction of $115,600.00. Following the completion of the transaction, the director now directly owns 11,286 shares of the company’s stock, valued at $130,466.16. The trade was a 46.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On REGENXBIO

A number of hedge funds have recently made changes to their positions in RGNX. FMR LLC grew its holdings in REGENXBIO by 166.8% in the 3rd quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after buying an additional 1,656 shares in the last quarter. nVerses Capital LLC increased its holdings in shares of REGENXBIO by 183.3% during the third quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 2,200 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of REGENXBIO by 64.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,506 shares of the biotechnology company’s stock valued at $100,000 after purchasing an additional 3,720 shares during the period. Diversified Trust Co bought a new stake in shares of REGENXBIO during the second quarter valued at about $121,000. Finally, Arizona State Retirement System lifted its holdings in REGENXBIO by 20.6% in the second quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 1,997 shares during the period. Institutional investors 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.