REGENXBIO (NASDAQ:RGNX) Earns Outperform Rating from Analysts at Raymond James

Investment analysts at Raymond James started coverage on shares of REGENXBIO (NASDAQ:RGNX) in a research report issued on Friday. The firm set an “outperform” rating and a $27.00 price target on the biotechnology company’s stock. Raymond James’ price objective would suggest a potential upside of 225.26% from the stock’s current price.

Several other research firms have also recently issued reports on RGNX. Chardan Capital restated a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research report on Wednesday, November 20th. StockNews.com cut REGENXBIO from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $22.00 price target on shares of REGENXBIO in a research report on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of REGENXBIO in a research note on Tuesday, January 21st. Finally, HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of REGENXBIO in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, REGENXBIO presently has an average rating of “Moderate Buy” and an average price target of $35.64.

REGENXBIO Price Performance

REGENXBIO stock traded down $0.13 during midday trading on Friday, reaching $8.30. The company’s stock had a trading volume of 126,268 shares, compared to its average volume of 1,036,491. The stock has a market capitalization of $411.23 million, a P/E ratio of -1.65 and a beta of 1.29. REGENXBIO has a 52-week low of $6.56 and a 52-week high of $28.80. The stock’s 50-day simple moving average is $8.11 and its 200-day simple moving average is $10.10.

Institutional Investors Weigh In On REGENXBIO

Several large investors have recently added to or reduced their stakes in the stock. Redmile Group LLC boosted its position in shares of REGENXBIO by 7.1% in the 3rd quarter. Redmile Group LLC now owns 4,892,902 shares of the biotechnology company’s stock valued at $51,327,000 after purchasing an additional 323,100 shares during the period. Assenagon Asset Management S.A. increased its position in shares of REGENXBIO by 53.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company’s stock worth $6,621,000 after acquiring an additional 296,700 shares in the last quarter. Millennium Management LLC increased its holdings in shares of REGENXBIO by 84.8% in the 2nd quarter. Millennium Management LLC now owns 306,487 shares of the biotechnology company’s stock valued at $3,586,000 after purchasing an additional 140,666 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of REGENXBIO in the fourth quarter worth approximately $1,062,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of REGENXBIO during the fourth quarter worth approximately $568,000. 88.08% of the stock is owned by institutional investors and hedge funds.

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.