Raymond James Begins Coverage on REGENXBIO (NASDAQ:RGNX)

Equities researchers at Raymond James started coverage on shares of REGENXBIO (NASDAQ:RGNX - Get Free Report) in a research note issued on Friday, Marketbeat.com reports. The brokerage set an "outperform" rating and a $27.00 price target on the biotechnology company's stock. Raymond James' price objective indicates a potential upside of 268.10% from the stock's current price.

Several other research firms also recently commented on RGNX. Chardan Capital reissued a "buy" rating and issued a $52.00 target price on shares of REGENXBIO in a research report on Wednesday, November 20th. HC Wainwright reissued a "buy" rating and set a $36.00 target price on shares of REGENXBIO in a research report on Wednesday, January 15th. StockNews.com cut REGENXBIO from a "hold" rating to a "sell" rating in a research report on Thursday, January 23rd. Royal Bank of Canada reissued an "outperform" rating and set a $30.00 price objective on shares of REGENXBIO in a report on Tuesday, January 21st. Finally, Morgan Stanley restated an "overweight" rating and issued a $22.00 target price on shares of REGENXBIO in a report on Friday, November 15th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, REGENXBIO presently has an average rating of "Moderate Buy" and an average price target of $33.45.

REGENXBIO Price Performance

RGNX traded down $0.56 during trading on Friday, reaching $7.34. 683,697 shares of the stock traded hands, compared to its average volume of 1,024,742. The stock has a market cap of $363.38 million, a price-to-earnings ratio of -1.46 and a beta of 1.29. The stock's 50-day simple moving average is $8.04 and its two-hundred day simple moving average is $9.98. REGENXBIO has a fifty-two week low of $6.56 and a fifty-two week high of $28.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC raised its position in REGENXBIO by 166.8% in the 3rd quarter. FMR LLC now owns 2,649 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 1,656 shares during the last quarter. nVerses Capital LLC increased its stake in shares of REGENXBIO by 183.3% in the third quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company's stock valued at $36,000 after buying an additional 2,200 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 2,510 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in REGENXBIO during the 4th quarter worth about $54,000. Finally, China Universal Asset Management Co. Ltd. raised its position in REGENXBIO by 64.3% in the 3rd 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 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.