REGENXBIO’s (RGNX) “Outperform” Rating Reiterated at Royal Bank of Canada

REGENXBIO (NASDAQ:RGNX)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They currently have a $35.00 price target on the biotechnology company’s stock. Royal Bank of Canada’s price target points to a potential upside of 301.38% from the company’s previous close.

Several other analysts have also commented on RGNX. Raymond James reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of REGENXBIO in a research report on Thursday, October 10th. HC Wainwright lowered their price target on shares of REGENXBIO from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Chardan Capital restated a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research note on Wednesday, November 20th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $22.00 price target on shares of REGENXBIO in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.27.

REGENXBIO Price Performance

NASDAQ RGNX opened at $8.72 on Wednesday. The business’s fifty day moving average is $9.77 and its 200-day moving average is $11.47. The stock has a market capitalization of $432.03 million, a price-to-earnings ratio of -1.73 and a beta of 1.24. REGENXBIO has a one year low of $8.44 and a one year high of $28.80.

Insider Buying and Selling

In related news, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total transaction of $101,100.00. Following the completion of the transaction, the director now directly owns 11,286 shares in the company, valued at $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 available through this hyperlink. 13.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RGNX. Price T Rowe Associates Inc. MD lifted its position in REGENXBIO by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock valued at $383,000 after purchasing an additional 1,438 shares during the last quarter. Diversified Trust Co purchased a new position in REGENXBIO in the second quarter worth $121,000. Assenagon Asset Management S.A. increased 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 valued at $9,552,000 after acquiring an additional 588,773 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in REGENXBIO by 26.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 134,190 shares of the biotechnology company’s stock valued at $1,570,000 after purchasing an additional 27,906 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in REGENXBIO by 14.0% during the second quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the biotechnology company’s stock worth $267,000 after purchasing an additional 2,800 shares during the last quarter. 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.