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

Morgan Stanley reiterated their overweight rating on shares of REGENXBIO (NASDAQ:RGNX) in a report issued on Friday morning, Marketbeat.com reports. They currently have a $22.00 price objective on the biotechnology company’s stock.

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

REGENXBIO Trading Down 13.6 %

REGENXBIO stock traded down $1.51 during trading on Friday, reaching $9.63. The company had a trading volume of 1,284,779 shares, compared to its average volume of 605,381. The firm’s 50-day simple moving average is $10.50 and its 200 day simple moving average is $12.31. REGENXBIO has a 52 week low of $8.53 and a 52 week high of $28.80. The firm has a market capitalization of $477.07 million, a price-to-earnings ratio of -1.91 and a beta of 1.23.

Insider Buying and Selling

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total transaction of $101,100.00. Following the transaction, the director now directly owns 11,286 shares in the company, valued at $114,101.46. This represents a 46.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.13% of the stock is owned by insiders.

Hedge Funds Weigh In On REGENXBIO

Large investors have recently bought and sold shares of the business. FMR LLC increased its holdings in shares of REGENXBIO by 166.8% in the 3rd 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 during the period. nVerses Capital LLC grew its stake in REGENXBIO by 183.3% in the third quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 2,200 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in REGENXBIO in the first quarter worth about $56,000. China Universal Asset Management Co. Ltd. lifted its position in shares of REGENXBIO by 64.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,506 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 3,720 shares during the last quarter. Finally, Diversified Trust Co bought a new stake in shares of REGENXBIO in the 2nd quarter valued at about $121,000. 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.