Chardan Capital Reaffirms Buy Rating for REGENXBIO (NASDAQ:RGNX)

Chardan Capital reaffirmed their buy rating on shares of REGENXBIO (NASDAQ:RGNX - Free Report) in a report published on Wednesday,Benzinga reports. Chardan Capital currently has a $52.00 price target on the biotechnology company's stock.

A number of other equities research analysts have also commented on RGNX. Barclays reduced their price target on REGENXBIO from $55.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, August 5th. StockNews.com upgraded shares of REGENXBIO from a "sell" rating to a "hold" rating in a research report on Friday, September 20th. Raymond James reissued an "outperform" rating and set a $18.00 target price on shares of REGENXBIO in a research note on Thursday, October 10th. Morgan Stanley restated an "overweight" rating and set a $22.00 target price on shares of REGENXBIO in a research report on Friday, November 15th. Finally, HC Wainwright boosted their target price on shares of REGENXBIO from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, REGENXBIO has a consensus rating of "Moderate Buy" and a consensus target price of $35.64.

REGENXBIO Stock Up 0.7 %

Shares of RGNX traded up $0.07 during midday trading on Wednesday, hitting $9.63. The company's stock had a trading volume of 804,939 shares, compared to its average volume of 623,574. REGENXBIO has a one year low of $8.53 and a one year high of $28.80. The stock has a market capitalization of $477.07 million, a price-to-earnings ratio of -1.90 and a beta of 1.23. The company's fifty day simple moving average is $10.43 and its two-hundred day simple moving average is $12.16.

Insider Activity at REGENXBIO

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total transaction of $101,100.00. Following the completion of the sale, the director now directly owns 11,286 shares in the company, valued at $114,101.46. This represents a 46.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 13.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. FMR LLC raised its stake 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 buying an additional 1,656 shares in the last quarter. 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 valued at $36,000 after purchasing an additional 2,200 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in REGENXBIO by 64.3% in the third 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 during the period. Diversified Trust Co bought a new position in REGENXBIO in the second quarter worth $121,000. Finally, ProShare Advisors LLC grew its position in shares of REGENXBIO by 8.3% in the 1st quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company's stock worth $240,000 after buying an additional 874 shares during the period. Hedge funds and other institutional investors own 88.08% of the company's stock.

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.