REGENXBIO (NASDAQ:RGNX) Price Target Cut to $36.00 by Analysts at HC Wainwright

REGENXBIO (NASDAQ:RGNX) had its target price decreased by equities research analysts at HC Wainwright from $40.00 to $36.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target suggests a potential upside of 273.83% from the company’s current price.

A number of other research analysts have also recently commented on RGNX. Morgan Stanley reissued an “overweight” rating and issued a $22.00 target price on shares of REGENXBIO in a research note on Friday, November 15th. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Chardan Capital restated a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research report on Wednesday. Barclays cut their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, Raymond James restated an “outperform” rating and issued a $18.00 price objective on shares of REGENXBIO in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.27.

REGENXBIO Price Performance

RGNX stock opened at $9.63 on Thursday. The firm has a 50 day simple moving average of $10.37 and a two-hundred day simple moving average of $12.14. The stock has a market cap of $477.07 million, a PE ratio of -1.91 and a beta of 1.23. REGENXBIO has a one year low of $8.53 and a one year high of $28.80.

Insider Activity at REGENXBIO

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total value of $101,100.00. Following the completion of the sale, the director now directly owns 11,286 shares in the company, valued at $114,101.46. This trade represents a 46.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 13.13% of the stock is currently owned by company insiders.

Institutional Trading of REGENXBIO

A number of hedge funds have recently modified their holdings of RGNX. Janney Montgomery Scott LLC bought a new stake in REGENXBIO during the first quarter worth about $304,000. ProShare Advisors LLC increased its stake in REGENXBIO by 8.3% during the 1st quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock valued at $240,000 after purchasing an additional 874 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in REGENXBIO by 33.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 15,485 shares of the biotechnology company’s stock worth $326,000 after buying an additional 3,870 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of REGENXBIO by 9.8% during the first quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company’s stock valued at $102,756,000 after buying an additional 436,043 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of REGENXBIO by 12.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 37,211 shares of the biotechnology company’s stock valued at $783,000 after acquiring an additional 4,076 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

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.