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

Morgan Stanley restated their overweight rating on shares of REGENXBIO (NASDAQ:RGNX) in a research report report published on Friday morning, MarketBeat reports. They currently have a $22.00 target price on the biotechnology company’s stock.

A number of other research analysts also recently weighed in on the stock. Raymond James reiterated an “outperform” rating and issued a $18.00 price objective on shares of REGENXBIO in a research report on Thursday, October 10th. Chardan Capital reissued a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a report on Tuesday, October 22nd. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. HC Wainwright lifted their price target on shares of REGENXBIO from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Barclays reduced their price objective on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.64.

REGENXBIO Price Performance

RGNX traded down $1.51 during trading on Friday, reaching $9.63. 1,284,779 shares of the company’s stock were exchanged, compared to its average volume of 605,381. The stock has a market capitalization of $477.07 million, a P/E ratio of -1.91 and a beta of 1.23. The company’s fifty day simple moving average is $10.50 and its 200-day simple moving average is $12.31. REGENXBIO has a 1 year low of $8.53 and a 1 year high of $28.80.

Insider Activity

In related news, Director Argeris N. Karabelas sold 10,000 shares of the company’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 completion of the transaction, the director now directly owns 11,286 shares of the company’s stock, valued at $114,101.46. This represents a 46.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 13.13% of the company’s stock.

Institutional Trading of REGENXBIO

Several institutional investors have recently modified their holdings of RGNX. FMR LLC raised its stake in 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 acquiring an additional 1,656 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of REGENXBIO during the first quarter worth about $56,000. nVerses Capital LLC increased its position in shares of REGENXBIO by 183.3% during the third quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 2,200 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings 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 purchasing an additional 3,720 shares during the last quarter. Finally, Diversified Trust Co acquired a new stake in shares of REGENXBIO in the 2nd quarter valued at about $121,000. Hedge funds and other 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.