Raymond James Upgrades REGENXBIO (NASDAQ:RGNX) to Moderate Buy

REGENXBIO (NASDAQ:RGNX - Get Free Report) was upgraded by Raymond James to a "moderate buy" rating in a research report issued on Thursday,Zacks.com reports.

Several other brokerages have also weighed in on RGNX. StockNews.com upgraded shares of REGENXBIO from a "sell" rating to a "hold" rating in a report on Friday, February 7th. Chardan Capital reaffirmed a "buy" rating and issued a $52.00 price objective on shares of REGENXBIO in a research report on Wednesday, November 20th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $30.00 price objective on shares of REGENXBIO in a research report on Tuesday, January 21st. HC Wainwright reaffirmed a "buy" rating and issued a $36.00 price objective on shares of REGENXBIO in a research report on Wednesday, January 15th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $22.00 target price on shares of REGENXBIO in a research note on Friday, November 15th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, REGENXBIO has an average rating of "Moderate Buy" and a consensus price target of $33.45.

REGENXBIO Trading Down 1.8 %

Shares of NASDAQ:RGNX traded down $0.13 on Thursday, reaching $7.20. 773,519 shares of the company were exchanged, compared to its average volume of 1,026,633. REGENXBIO has a 1-year low of $6.56 and a 1-year high of $28.80. The firm has a market cap of $356.69 million, a price-to-earnings ratio of -1.43 and a beta of 1.29. The company has a 50-day moving average of $7.96 and a 200-day moving average of $9.91.

Institutional Investors Weigh In On REGENXBIO

A number of hedge funds have recently added to or reduced their stakes in the stock. Trexquant Investment LP bought a new stake in REGENXBIO in the fourth quarter valued at $1,160,000. Geode Capital Management LLC increased its holdings in shares of REGENXBIO by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,094,225 shares of the biotechnology company's stock valued at $8,460,000 after purchasing an additional 5,574 shares during the period. DnB Asset Management AS increased its holdings in shares of REGENXBIO by 20.1% during the fourth quarter. DnB Asset Management AS now owns 14,539 shares of the biotechnology company's stock valued at $112,000 after purchasing an additional 2,434 shares during the period. Norges Bank acquired a new position in REGENXBIO during the fourth quarter worth about $3,474,000. Finally, BIT Capital GmbH acquired a new position in REGENXBIO during the fourth quarter worth about $230,000. 88.08% of the stock is currently owned by institutional investors.

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.