REGENXBIO (NASDAQ:RGNX) Shares Gap Up – Here’s What Happened

REGENXBIO Inc. (NASDAQ:RGNX) shares gapped up prior to trading on Friday . The stock had previously closed at $11.14, but opened at $11.56. REGENXBIO shares last traded at $10.96, with a volume of 110,242 shares changing hands.

Analyst Ratings Changes

RGNX has been the topic of a number of recent analyst reports. StockNews.com raised shares of 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 note on Friday. Raymond James reissued an “outperform” rating and set a $18.00 price target on shares of REGENXBIO in a research note on Thursday, October 10th. HC Wainwright raised their target price on shares of REGENXBIO from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays decreased their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.64.

REGENXBIO Price Performance

The stock has a market capitalization of $514.23 million, a P/E ratio of -2.04 and a beta of 1.23. The company has a fifty day moving average of $10.54 and a two-hundred day moving average of $12.35.

Insiders Place Their Bets

In related news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total value of $101,100.00. Following the sale, the director now owns 11,286 shares of the company’s stock, valued at approximately $114,101.46. This trade represents a 46.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On REGENXBIO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RGNX. Erste Asset Management GmbH acquired a new position in REGENXBIO during the 3rd quarter valued at about $140,000. Verition Fund Management LLC bought a new stake in shares of REGENXBIO during the 3rd quarter worth $432,000. BNP Paribas Financial Markets boosted its position in shares of REGENXBIO by 602.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,441 shares of the biotechnology company’s stock valued at $214,000 after purchasing an additional 17,533 shares during the period. FMR LLC increased its position in shares of REGENXBIO by 166.8% in the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 1,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in REGENXBIO by 9.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 417,739 shares of the biotechnology company’s stock worth $4,382,000 after purchasing an additional 37,055 shares in the last quarter. 88.08% of the stock is owned by institutional investors.

REGENXBIO Company Profile

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.