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

Raymond James upgraded shares of REGENXBIO (NASDAQ:RGNX) to a moderate buy rating in a report issued on Thursday,Zacks.com reports.

A number of other research firms have also weighed in on RGNX. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday. Chardan Capital reiterated a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a report on Wednesday, November 20th. Royal Bank of Canada restated an “outperform” rating and set a $30.00 price target on shares of REGENXBIO in a report on Tuesday, January 21st. HC Wainwright reiterated a “buy” rating and set a $36.00 price objective on shares of REGENXBIO in a research report on Wednesday, January 15th. Finally, Morgan Stanley restated an “overweight” rating and issued a $22.00 target price on shares of REGENXBIO in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, REGENXBIO currently has an average rating of “Moderate Buy” and a consensus target price of $35.64.

REGENXBIO Stock Performance

Shares of NASDAQ:RGNX opened at $8.21 on Thursday. The company has a market capitalization of $406.72 million, a PE ratio of -1.63 and a beta of 1.29. The stock has a fifty day moving average of $8.11 and a 200-day moving average of $10.10. REGENXBIO has a one year low of $6.56 and a one year high of $28.80.

Institutional Investors Weigh In On REGENXBIO

Several large investors have recently made changes to their positions in RGNX. Raymond James Financial Inc. acquired a new stake in REGENXBIO in the fourth quarter valued at approximately $568,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of REGENXBIO in the 4th quarter valued at $1,062,000. Hennion & Walsh Asset Management Inc. boosted its holdings in REGENXBIO by 8.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 164,729 shares of the biotechnology company’s stock worth $1,273,000 after purchasing an additional 13,014 shares in the last quarter. Assenagon Asset Management S.A. increased its position in REGENXBIO by 53.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company’s stock worth $6,621,000 after buying an additional 296,700 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in REGENXBIO by 273.1% during the 4th 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 during 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.