REGENXBIO (NASDAQ:RGNX) Earns Overweight Rating from Morgan Stanley

REGENXBIO (NASDAQ:RGNX)‘s stock had its “overweight” rating reiterated by equities research analysts at Morgan Stanley in a report released on Friday, MarketBeat.com reports. They presently have a $22.00 price target on the biotechnology company’s stock. Morgan Stanley’s price objective indicates a potential upside of 128.45% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Barclays dropped their price objective on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, August 5th. StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Raymond James reiterated an “outperform” rating and issued a $18.00 price objective on shares of REGENXBIO in a report on Thursday, October 10th. HC Wainwright increased their price objective on REGENXBIO from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Chardan Capital restated a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research report on Tuesday, October 22nd. Two equities 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 company presently has an average rating of “Moderate Buy” and an average target price of $35.64.

REGENXBIO Stock Performance

Shares of NASDAQ:RGNX opened at $9.63 on Friday. REGENXBIO has a 52-week low of $8.53 and a 52-week high of $28.80. The business has a fifty day moving average of $10.50 and a two-hundred day moving average of $12.28.

Insider Buying and Selling at REGENXBIO

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $11.56, for a total transaction of $115,600.00. Following the sale, the director now directly owns 11,286 shares in the company, valued at $130,466.16. This represents a 46.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 13.13% of the stock is currently owned by corporate insiders.

Institutional Trading of REGENXBIO

A number of large investors have recently modified their holdings of the stock. ProShare Advisors LLC boosted its holdings 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 purchasing an additional 874 shares during the period. Maryland State Retirement & Pension System boosted its stake in shares of REGENXBIO by 7.2% in the 2nd quarter. Maryland State Retirement & Pension System now owns 15,800 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 1,067 shares during the period. Amalgamated Bank grew its position in shares of REGENXBIO by 9.9% during the second quarter. Amalgamated Bank now owns 13,613 shares of the biotechnology company’s stock worth $159,000 after buying an additional 1,227 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of REGENXBIO by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock worth $383,000 after buying an additional 1,438 shares during the period. Finally, FMR LLC raised its holdings in REGENXBIO by 166.8% in the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 1,656 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.