REGENXBIO Inc. (NASDAQ:RGNX) Receives $30.38 Consensus Target Price from Brokerages

Shares of REGENXBIO Inc. (NASDAQ:RGNX) have received a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $27.80.

A number of research firms have weighed in on RGNX. The Goldman Sachs Group decreased their target price on shares of REGENXBIO from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday. Robert W. Baird set a $27.00 price objective on REGENXBIO in a report on Tuesday. Barclays started coverage on REGENXBIO in a report on Tuesday, January 27th. They issued an “overweight” rating and a $37.00 target price for the company. Leerink Partners lifted their price target on REGENXBIO from $16.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. Finally, Chardan Capital lowered their price objective on REGENXBIO from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th.

Hedge Funds Weigh In On REGENXBIO

A number of hedge funds have recently modified their holdings of RGNX. CANADA LIFE ASSURANCE Co increased its holdings in REGENXBIO by 36.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 19,851 shares of the biotechnology company’s stock valued at $286,000 after purchasing an additional 5,341 shares during the period. Stifel Financial Corp grew its position in shares of REGENXBIO by 4.6% in the 4th quarter. Stifel Financial Corp now owns 335,046 shares of the biotechnology company’s stock valued at $4,825,000 after buying an additional 14,636 shares during the last quarter. Bridgefront Capital LLC acquired a new stake in shares of REGENXBIO in the fourth quarter valued at about $159,000. Bank of Nova Scotia bought a new position in shares of REGENXBIO during the fourth quarter worth about $252,000. Finally, Headlands Technologies LLC acquired a new position in shares of REGENXBIO in the fourth quarter worth approximately $166,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Stock Down 4.3%

NASDAQ:RGNX opened at $7.99 on Tuesday. REGENXBIO has a twelve month low of $5.03 and a twelve month high of $16.19. The stock’s 50-day simple moving average is $13.08 and its 200 day simple moving average is $11.40. The firm has a market capitalization of $404.45 million, a PE ratio of -2.30 and a beta of 1.05.

REGENXBIO Company Profile

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO’s pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.