REGENXBIO (NASDAQ:RGNX) Receives “Outperform” Rating from Royal Bank of Canada

REGENXBIO (NASDAQ:RGNX)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $30.00 price target on the biotechnology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 305.46% from the company’s previous close.

RGNX has been the subject of a number of other reports. Morgan Stanley reiterated an “overweight” rating and set a $22.00 price target on shares of REGENXBIO in a research report on Friday, November 15th. Raymond James reissued an “outperform” rating and issued a $18.00 price objective on shares of REGENXBIO in a research note on Thursday, October 10th. Chardan Capital reissued a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a research note on Wednesday, November 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $36.00 price objective on shares of REGENXBIO in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.82.

REGENXBIO Stock Up 0.4 %

Shares of RGNX traded up $0.03 during trading on Tuesday, reaching $7.40. 235,806 shares of the company traded hands, compared to its average volume of 1,326,758. REGENXBIO has a twelve month low of $6.56 and a twelve month high of $28.80. The stock has a market cap of $366.55 million, a PE ratio of -1.47 and a beta of 1.28. The stock has a 50-day simple moving average of $8.63 and a 200-day simple moving average of $10.46.

Hedge Funds Weigh In On REGENXBIO

A number of institutional investors have recently modified their holdings of RGNX. Redmile Group LLC increased its holdings in shares of REGENXBIO by 7.1% in the 3rd quarter. Redmile Group LLC now owns 4,892,902 shares of the biotechnology company’s stock valued at $51,327,000 after acquiring an additional 323,100 shares during the period. Assenagon Asset Management S.A. increased its stake in REGENXBIO by 53.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company’s stock valued at $6,621,000 after buying an additional 296,700 shares during the period. Millennium Management LLC increased its stake in REGENXBIO by 84.8% in the 2nd quarter. Millennium Management LLC now owns 306,487 shares of the biotechnology company’s stock valued at $3,586,000 after buying an additional 140,666 shares during the period. Squarepoint Ops LLC increased its stake in REGENXBIO by 630.9% in the 2nd quarter. Squarepoint Ops LLC now owns 146,259 shares of the biotechnology company’s stock valued at $1,711,000 after buying an additional 126,249 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in REGENXBIO by 73.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 188,235 shares of the biotechnology company’s stock valued at $2,202,000 after buying an additional 79,655 shares during the period. 88.08% of the stock is owned by institutional investors and hedge funds.

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.