REGENXBIO (NASDAQ:RGNX) Shares Up 8.1% – Here’s Why

REGENXBIO Inc. (NASDAQ:RGNX)’s share price shot up 8.1% on Thursday . The stock traded as high as $11.74 and last traded at $11.53. 260,320 shares traded hands during trading, a decline of 56% from the average session volume of 597,610 shares. The stock had previously closed at $10.67.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RGNX. Chardan Capital reiterated a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research report on Tuesday, October 22nd. Barclays reduced their price target on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. HC Wainwright boosted their price target on shares of REGENXBIO from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Raymond James restated an “outperform” rating and issued a $18.00 price target on shares of REGENXBIO in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.55.

REGENXBIO Trading Up 6.1 %

The business’s fifty day simple moving average is $10.54 and its 200 day simple moving average is $12.36. The stock has a market cap of $560.85 million, a price-to-earnings ratio of -2.29 and a beta of 1.23.

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 stock was sold at an average price of $10.11, for a total transaction of $101,100.00. Following the transaction, the director now owns 11,286 shares in the company, valued at approximately $114,101.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RGNX. Allspring Global Investments Holdings LLC bought a new position in REGENXBIO during the 1st quarter worth approximately $56,000. Janney Montgomery Scott LLC bought a new position in REGENXBIO during the 1st quarter worth approximately $304,000. Swiss National Bank lifted its stake in REGENXBIO by 4.5% in the first quarter. Swiss National Bank now owns 81,500 shares of the biotechnology company’s stock valued at $1,717,000 after buying an additional 3,500 shares in the last quarter. Headlands Technologies LLC lifted its stake in REGENXBIO by 276.8% in the first quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock valued at $81,000 after buying an additional 2,812 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in REGENXBIO by 8.3% in the first quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock valued at $240,000 after buying an additional 874 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.