Norges Bank Buys Shares of 449,400 REGENXBIO Inc. (NASDAQ:RGNX)

Norges Bank acquired a new stake in shares of REGENXBIO Inc. (NASDAQ:RGNX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 449,400 shares of the biotechnology company's stock, valued at approximately $3,474,000. Norges Bank owned about 0.91% of REGENXBIO as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in RGNX. GAMMA Investing LLC grew its position in REGENXBIO by 273.1% in the fourth quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company's stock valued at $27,000 after acquiring an additional 2,510 shares during the period. FMR LLC grew its holdings in shares of REGENXBIO by 166.8% in the 3rd 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. KLP Kapitalforvaltning AS acquired a new stake in shares of REGENXBIO during the 4th quarter worth about $54,000. EntryPoint Capital LLC bought a new position in REGENXBIO during the 4th quarter valued at about $97,000. Finally, Teacher Retirement System of Texas lifted its holdings 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 valued at $97,000 after purchasing an additional 2,088 shares during the last quarter. Institutional investors own 88.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RGNX. Leerink Partners set a $24.00 price objective on shares of REGENXBIO in a report on Tuesday, March 18th. StockNews.com upgraded REGENXBIO from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $30.00 price objective on shares of REGENXBIO in a research report on Tuesday, January 21st. HC Wainwright decreased their target price on REGENXBIO from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, March 17th. Finally, Chardan Capital restated a "buy" rating and issued a $52.00 target price on shares of REGENXBIO in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.88.

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REGENXBIO Price Performance

Shares of RGNX stock traded up $0.29 on Tuesday, reaching $6.62. 565,229 shares of the stock were exchanged, compared to its average volume of 1,001,975. REGENXBIO Inc. has a one year low of $5.03 and a one year high of $18.24. The stock has a market cap of $331.77 million, a PE ratio of -1.32 and a beta of 1.26. The stock has a 50 day moving average price of $6.95 and a 200 day moving average price of $8.24.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share for the quarter, topping the consensus estimate of ($1.27) by $0.26. The firm had revenue of $21.21 million during the quarter, compared to analysts' expectations of $23.70 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. On average, research analysts expect that REGENXBIO Inc. will post -4.84 earnings per share for the current fiscal year.

REGENXBIO 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.