REGENXBIO (NASDAQ:RGNX) Earns Buy Rating from Chardan Capital

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating reissued by stock analysts at Chardan Capital in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $52.00 price objective on the biotechnology company’s stock.

Several other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group cut REGENXBIO from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $38.00 to $14.00 in a research note on Tuesday, February 11th. Morgan Stanley reiterated an “overweight” rating and set a $22.00 price target on shares of REGENXBIO in a report on Friday, November 15th. HC Wainwright restated a “buy” rating and issued a $36.00 price target on shares of REGENXBIO in a research note on Wednesday, January 15th. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $30.00 target price on shares of REGENXBIO in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, REGENXBIO has a consensus rating of “Moderate Buy” and a consensus price target of $34.13.

REGENXBIO Stock Down 1.8 %

Shares of NASDAQ RGNX opened at $6.55 on Friday. REGENXBIO has a twelve month low of $5.62 and a twelve month high of $23.14. The firm has a market capitalization of $324.52 million, a P/E ratio of -1.30 and a beta of 1.35. The stock’s 50-day simple moving average is $7.34 and its two-hundred day simple moving average is $9.08.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) EPS for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.18. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. As a group, research analysts anticipate that REGENXBIO will post -4.84 EPS for the current fiscal year.

Hedge Funds Weigh In On REGENXBIO

A number of large investors have recently made changes to their positions in RGNX. FMR LLC raised its stake in shares of 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 purchasing an additional 1,656 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of REGENXBIO by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,910 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 1,982 shares during the last quarter. Teacher Retirement System of Texas increased its stake in REGENXBIO by 19.9% during the 4th quarter. Teacher Retirement System of Texas now owns 12,590 shares of the biotechnology company’s stock worth $97,000 after buying an additional 2,088 shares in the last quarter. DnB Asset Management AS lifted its holdings in REGENXBIO by 20.1% in the 4th quarter. DnB Asset Management AS now owns 14,539 shares of the biotechnology company’s stock valued at $112,000 after purchasing an additional 2,434 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in 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 acquiring an additional 2,510 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

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.