The Goldman Sachs Group Downgrades REGENXBIO (NASDAQ:RGNX) to Neutral

REGENXBIO (NASDAQ:RGNX) was downgraded by stock analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday,Finviz reports. They currently have a $14.00 target price on the biotechnology company’s stock, down from their prior target price of $38.00. The Goldman Sachs Group’s price target suggests a potential upside of 77.44% from the company’s current price.

Several other brokerages have also issued reports on RGNX. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of REGENXBIO in a research report on Tuesday, January 21st. Chardan Capital reaffirmed a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research report on Wednesday, November 20th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $36.00 target price on shares of REGENXBIO in a research report on Wednesday, January 15th. Finally, Raymond James initiated coverage on REGENXBIO in a research note on Friday. They set an “outperform” rating and a $27.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.45.

REGENXBIO Trading Down 3.9 %

RGNX opened at $7.89 on Tuesday. The firm has a market cap of $390.87 million, a price-to-earnings ratio of -1.57 and a beta of 1.29. REGENXBIO has a 12 month low of $6.56 and a 12 month high of $28.80. The stock has a fifty day moving average price of $8.04 and a 200-day moving average price of $9.98.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its position in REGENXBIO by 166.8% in the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 1,656 shares during the period. nVerses Capital LLC boosted its position 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 worth $36,000 after buying an additional 2,200 shares during the period. GAMMA Investing LLC boosted its position in shares of REGENXBIO by 273.1% during the fourth quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock worth $27,000 after buying an additional 2,510 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of REGENXBIO by 19.6% during the second quarter. The Manufacturers Life Insurance Company now owns 18,375 shares of the biotechnology company’s stock worth $215,000 after buying an additional 3,015 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of REGENXBIO by 64.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,506 shares of the biotechnology company’s stock worth $100,000 after buying an additional 3,720 shares during the period. 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.