JPMorgan Chase & Co. lifted its stake in REGENXBIO Inc. (NASDAQ:RGNX - Free Report) by 67.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,136,517 shares of the biotechnology company's stock after buying an additional 1,659,206 shares during the period. JPMorgan Chase & Co. owned about 8.35% of REGENXBIO worth $31,975,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in REGENXBIO by 48.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 25,430 shares of the biotechnology company's stock worth $198,000 after acquiring an additional 8,267 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of REGENXBIO in the 4th quarter valued at $97,000. KLP Kapitalforvaltning AS acquired a new position in shares of REGENXBIO during the fourth quarter valued at $54,000. AXQ Capital LP bought a new position in REGENXBIO in the fourth quarter valued at about $106,000. Finally, American Century Companies Inc. increased its position in REGENXBIO by 8.8% in the fourth quarter. American Century Companies Inc. now owns 95,026 shares of the biotechnology company's stock worth $735,000 after purchasing an additional 7,658 shares during the period. Institutional investors own 88.08% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on RGNX. Raymond James initiated coverage on shares of REGENXBIO in a research note on Friday, February 7th. They issued an "outperform" rating and a $27.00 target price on the stock. HC Wainwright reduced their price objective on shares of REGENXBIO from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Leerink Partners set a $24.00 target price on shares of REGENXBIO in a research report on Tuesday, March 18th. Royal Bank of Canada restated an "outperform" rating and issued a $30.00 price target on shares of REGENXBIO in a research report on Tuesday, January 21st. Finally, Chardan Capital reaffirmed a "buy" rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $32.78.
Read Our Latest Analysis on RGNX
REGENXBIO Stock Up 8.9 %
REGENXBIO stock traded up $0.48 during mid-day trading on Friday, hitting $5.89. 1,224,210 shares of the company's stock were exchanged, compared to its average volume of 792,769. The company's 50 day simple moving average is $7.00 and its 200-day simple moving average is $8.29. The firm has a market capitalization of $295.19 million, a P/E ratio of -1.17 and a beta of 1.26. REGENXBIO Inc. has a fifty-two week low of $5.04 and a fifty-two week high of $19.38.
REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) EPS for the quarter, topping analysts' consensus estimates of ($1.27) by $0.26. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. The company had revenue of $21.21 million for the quarter, compared to analyst estimates of $23.70 million. Research analysts expect that REGENXBIO Inc. will post -4.84 EPS for the current year.
REGENXBIO Profile
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Free Report)
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.
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