HC Wainwright Issues Pessimistic Forecast for REGENXBIO (NASDAQ:RGNX) Stock Price

REGENXBIO (NASDAQ:RGNX) had its target price cut by HC Wainwright from $40.00 to $36.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other equities analysts have also recently issued reports on RGNX. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Raymond James restated an “outperform” rating and issued a $18.00 price target on shares of REGENXBIO in a research note on Thursday, October 10th. Barclays lowered their price objective on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Morgan Stanley reissued an “overweight” rating and set a $22.00 target price on shares of REGENXBIO in a research report on Friday, November 15th. Finally, Chardan Capital reiterated a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, REGENXBIO presently has an average rating of “Moderate Buy” and an average price target of $35.27.

REGENXBIO Trading Up 0.8 %

RGNX traded up $0.07 on Thursday, hitting $9.25. The company had a trading volume of 73,156 shares, compared to its average volume of 621,486. REGENXBIO has a 1 year low of $8.53 and a 1 year high of $28.80. The firm has a market cap of $458.29 million, a P/E ratio of -1.83 and a beta of 1.23. The company’s fifty day moving average price is $10.37 and its 200 day moving average price is $12.14.

Insider Buying and Selling

In related news, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total value of $101,100.00. Following the transaction, the director now directly owns 11,286 shares in the company, valued at $114,101.46. This trade represents a 46.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. FMR LLC lifted its stake in REGENXBIO by 166.8% in the 3rd 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 in the last quarter. nVerses Capital LLC boosted its stake 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 acquiring an additional 2,200 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in 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 worth $100,000 after purchasing an additional 3,720 shares in the last quarter. Diversified Trust Co acquired a new position in REGENXBIO in the 2nd quarter valued at about $121,000. Finally, Arizona State Retirement System lifted its holdings in REGENXBIO by 20.6% in the 2nd quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock valued at $137,000 after purchasing an additional 1,997 shares in the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

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.