REGENXBIO (NASDAQ:RGNX) Upgraded to Hold at StockNews.com

REGENXBIO (NASDAQ:RGNX) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

A number of other brokerages have also recently commented on RGNX. The Goldman Sachs Group cut shares of REGENXBIO from a “buy” rating to a “neutral” rating and cut their target price for the company from $38.00 to $14.00 in a report on Tuesday, February 11th. Raymond James started coverage on shares of REGENXBIO in a report on Friday, February 7th. They issued an “outperform” rating and a $27.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 target price on shares of REGENXBIO in a report on Wednesday, January 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of REGENXBIO in a report on Tuesday, January 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $22.00 target price on shares of REGENXBIO in a report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, REGENXBIO currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.45.

REGENXBIO Stock Performance

RGNX stock traded down $0.21 during midday trading on Tuesday, reaching $6.72. 1,097,676 shares of the company were exchanged, compared to its average volume of 951,104. REGENXBIO has a 1-year low of $6.44 and a 1-year high of $28.80. The stock’s 50-day simple moving average is $7.63 and its 200 day simple moving average is $9.52. The company has a market cap of $332.94 million, a price-to-earnings ratio of -1.34 and a beta of 1.29.

Hedge Funds Weigh In On REGENXBIO

Hedge funds and other institutional investors have recently bought and sold shares of the company. Alpine Global Management LLC purchased a new stake in shares of REGENXBIO during the 4th quarter worth $175,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of REGENXBIO by 9.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,183 shares of the biotechnology company’s stock worth $558,000 after purchasing an additional 6,105 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of REGENXBIO by 164.7% during the 4th quarter. Two Sigma Advisers LP now owns 180,000 shares of the biotechnology company’s stock worth $1,391,000 after purchasing an additional 112,000 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of REGENXBIO by 209.2% during the 4th quarter. Two Sigma Investments LP now owns 389,428 shares of the biotechnology company’s stock worth $3,010,000 after purchasing an additional 263,495 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of REGENXBIO by 22.4% during the 4th quarter. Rafferty Asset Management LLC now owns 93,821 shares of the biotechnology company’s stock worth $725,000 after purchasing an additional 17,180 shares in the last quarter. 88.08% of the stock is currently 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.