REGENXBIO (NASDAQ:RGNX) Shares Gap Up - Here's Why

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $11.14, but opened at $11.56. REGENXBIO shares last traded at $10.96, with a volume of 110,242 shares traded.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Chardan Capital restated a "buy" rating and set a $52.00 price target on shares of REGENXBIO in a research note on Tuesday, October 22nd. StockNews.com raised shares of REGENXBIO from a "sell" rating to a "hold" rating in a research report on Friday, September 20th. Raymond James reaffirmed an "outperform" rating and issued a $18.00 price target on shares of REGENXBIO in a research report on Thursday, October 10th. HC Wainwright lifted their price target on REGENXBIO from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Barclays lowered their price objective on REGENXBIO from $55.00 to $50.00 and set an "overweight" rating for the company in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.64.

REGENXBIO Trading Down 13.6 %

The stock has a market capitalization of $477.07 million, a PE ratio of -1.91 and a beta of 1.23. The firm has a 50-day moving average price of $10.50 and a 200-day moving average price of $12.31.

Insider Activity

In related news, Director Argeris N. Karabelas sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.56, for a total value of $115,600.00. Following the sale, the director now directly owns 11,286 shares in the company, valued at approximately $130,466.16. The trade was a 46.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 13.13% of the company's stock.

Hedge Funds Weigh In On REGENXBIO

Several large investors have recently modified their holdings of the business. ProShare Advisors LLC raised its holdings in shares of REGENXBIO by 8.3% during the first quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company's stock valued at $240,000 after acquiring an additional 874 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in REGENXBIO by 7.2% during the second quarter. Maryland State Retirement & Pension System now owns 15,800 shares of the biotechnology company's stock valued at $185,000 after buying an additional 1,067 shares during the period. Amalgamated Bank lifted its position in REGENXBIO by 9.9% during the 2nd quarter. Amalgamated Bank now owns 13,613 shares of the biotechnology company's stock valued at $159,000 after acquiring an additional 1,227 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in REGENXBIO by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company's stock worth $383,000 after acquiring an additional 1,438 shares in the last quarter. Finally, FMR LLC boosted its position 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 in the last quarter. 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.