HC Wainwright Reaffirms “Buy” Rating for REGENXBIO (NASDAQ:RGNX)

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $36.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 403.50% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of REGENXBIO in a research note on Wednesday, December 11th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Morgan Stanley reissued an “overweight” rating and issued a $22.00 target price on shares of REGENXBIO in a research report on Friday, November 15th. Chardan Capital restated a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a report on Wednesday, November 20th. Finally, Raymond James reiterated an “outperform” rating and set a $18.00 target price on shares of REGENXBIO in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.27.

REGENXBIO Price Performance

Shares of REGENXBIO stock opened at $7.15 on Wednesday. The stock has a market capitalization of $354.25 million, a P/E ratio of -1.42 and a beta of 1.28. The business has a 50 day simple moving average of $8.79 and a two-hundred day simple moving average of $10.51. REGENXBIO has a 12 month low of $6.56 and a 12 month high of $28.80.

Institutional Investors Weigh In On REGENXBIO

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in REGENXBIO by 273.1% in the fourth quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 2,510 shares in the last quarter. FMR LLC lifted its position in shares of REGENXBIO by 166.8% during the 3rd quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after buying an additional 1,656 shares during the last quarter. nVerses Capital LLC boosted its holdings in shares of REGENXBIO by 183.3% in the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 2,200 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of REGENXBIO by 64.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,506 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 3,720 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in REGENXBIO by 20.6% during the 2nd quarter. Arizona State Retirement System now owns 11,669 shares of the biotechnology company’s stock worth $137,000 after acquiring an additional 1,997 shares in the last quarter. Institutional investors and hedge funds 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.