REGENXBIO (NASDAQ:RGNX) Sees Unusually-High Trading Volume – Time to Buy?

Shares of REGENXBIO Inc. (NASDAQ:RGNX) saw strong trading volume on Monday . 1,477,339 shares changed hands during trading, an increase of 143% from the previous session’s volume of 608,766 shares.The stock last traded at $10.47 and had previously closed at $9.63.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RGNX shares. Raymond James reaffirmed an “outperform” rating and issued a $18.00 target price on shares of REGENXBIO in a report on Thursday, October 10th. Chardan Capital reaffirmed a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Tuesday, October 22nd. 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. HC Wainwright boosted their target price on REGENXBIO from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 price target on shares of REGENXBIO in a report on Friday. 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 MarketBeat, REGENXBIO has a consensus rating of “Moderate Buy” and a consensus price target of $35.64.

REGENXBIO Price Performance

The business has a 50 day moving average of $10.50 and a 200 day moving average of $12.26. The firm has a market capitalization of $513.29 million, a price-to-earnings ratio of -2.25 and a beta of 1.23.

Insider Buying and Selling at REGENXBIO

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the business’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 transaction of $101,100.00. Following the transaction, the director now owns 11,286 shares of the company’s stock, valued at $114,101.46. The trade was a 46.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 13.13% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in REGENXBIO by 166.8% during 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. Allspring Global Investments Holdings LLC bought a new stake in shares of REGENXBIO in the 1st quarter valued at about $56,000. nVerses Capital LLC lifted its stake in REGENXBIO by 183.3% in the 3rd 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. China Universal Asset Management Co. Ltd. grew its holdings in 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 worth $100,000 after purchasing an additional 3,720 shares during the period. Finally, Diversified Trust Co acquired a new position in REGENXBIO during the second quarter worth approximately $121,000. 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.