Analysts Set REGENXBIO Inc. (NASDAQ:RGNX) Target Price at $35.27

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $35.27.

A number of research analysts recently commented on RGNX shares. Raymond James reiterated an “outperform” rating and set a $18.00 price objective on shares of REGENXBIO in a research note on Thursday, October 10th. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. HC Wainwright dropped their price objective on REGENXBIO from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Chardan Capital reaffirmed a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of REGENXBIO in a report on Wednesday.

Insiders Place Their Bets

In other news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total value of $101,100.00. Following the completion of the sale, the director now owns 11,286 shares in the company, valued at $114,101.46. This represents a 46.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its position in REGENXBIO by 166.8% during the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,656 shares in the last quarter. nVerses Capital LLC boosted its stake in shares of REGENXBIO by 183.3% during the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 2,200 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of REGENXBIO by 64.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,506 shares of the biotechnology company’s stock valued at $100,000 after acquiring an additional 3,720 shares in the last quarter. Diversified Trust Co acquired a new position in shares of REGENXBIO in the second quarter worth $121,000. Finally, Arizona State Retirement System increased its stake in shares of 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 acquiring an additional 1,997 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

REGENXBIO Trading Down 5.0 %

REGENXBIO stock opened at $8.28 on Thursday. REGENXBIO has a 52 week low of $8.26 and a 52 week high of $28.80. The stock has a market cap of $410.19 million, a price-to-earnings ratio of -1.65 and a beta of 1.24. The company’s 50-day moving average price is $9.74 and its two-hundred day moving average price is $11.39.

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.